According to data from Coinglass, the 8-hour average funding rate for Ethereum (ETH) perpetual futures across the entire network currently stands at 0.0025%, remaining in positive territory. The funding rate is a key cost indicator in the crypto derivatives market, settled every 8 hours. When the rate is positive, longs pay shorts; when negative, shorts pay longs. This mechanism is designed to anchor the perpetual contract price to the spot index price through economic incentives, preventing excessive price divergence.
Among major exchanges, funding rates show some divergence. OKX posts the highest rate at 0.0052%, with Binance closely behind at 0.0045%—both significantly above the network average. In contrast, Bybit registers 0.0006% and Gate 0.0005%, sitting at lower levels. The prevalence of positive rates indicates predominant bullish sentiment, while the higher rates on OKX and Binance suggest that long positions on these platforms carry relatively higher holding costs. This data offers a direct reference for gauging the distribution of long and short forces in the market.