ChainCatcher reported that, according to data from Coinglass, ETH’s current network-wide 8-hour average funding rate stands at 0.0019%. The figure reflects the average funding rate level for ETH perpetual contracts over an 8-hour funding cycle, a metric commonly used by traders to track the cost balance between long and short positions in the derivatives market.
Among the major exchanges listed in the data, Binance shows an ETH 8-hour funding rate of 0.0031%, OKX is at -0.0001%, Bybit is at 0.0055%, and Gate is at 0.0003%. Based on the disclosed figures, Bybit has the highest value among the named exchanges, while OKX is slightly below zero. Binance and Gate both remain in positive territory.
Funding rates are used in perpetual contracts to help align contract prices with spot market prices. A positive funding rate means long-position holders pay funding fees to short-position holders, while a negative rate means short-position holders pay long-position holders. The reported data covers only ETH funding rates on the exchanges named above and does not include price, trading volume, open interest, or liquidation information.