ChainCatcher reported, citing Coinglass data, that ETH’s current network-wide 8-hour average funding rate is 0.002%. Among the listed major exchanges, Binance’s ETH funding rate is 0.0031%, OKX’s rate is 0.001%, Bybit’s rate is 0.0064%, and Gate’s rate is 0.0026%.
Based on the exchange figures provided in the report, Bybit has the highest listed ETH funding rate, while OKX has the lowest. Binance and Gate are both above the network-wide 8-hour average funding rate of 0.002%.
Funding rates are commonly used in perpetual futures markets as a periodic payment mechanism between long and short positions. Since the figures in this update are presented under an 8-hour average funding-rate framework, the exchange-level data from Binance, OKX, Bybit and Gate can be viewed on the same time basis.