According to the latest data from Coinglass, the average 8-hour funding rate for ETH across all exchanges is only 0.0006%, a historically low level. There is significant divergence among major exchanges: OKX (0.003%) and Binance (0.0019%) have relatively higher rates, Bybit has a very low rate of 0.0002%, and Gate has a negative rate of -0.0011%, indicating that short positions on Gate are paying longs. The data reflects growing disagreement in market sentiment for ETH.
ETH Funding Rate Data: Major Exchanges Show Wide Divergence
According to the latest data from Coinglass, the average 8-hour funding rate for ETH across all exchanges currently stands at a mere 0.0006%, a historically low level. There is a clear divergence among major exchanges: OKX has the highest rate at 0.003%, Binance follows at 0.0019%, Bybit has a very low rate of 0.0002%, while Gate exhibits a negative rate of -0.0011%. A negative funding rate means that long positions pay shorts, which is unusual for ETH and suggests that shorts on Gate are dominant and market sentiment is leaning bearish.
An extremely low average funding rate typically indicates that the perpetual swap market lacks a clear short-term directional consensus, with long and short forces roughly balanced. Traders should monitor subsequent changes in funding rates, combined with open interest and price action, to identify potential trend reversals.
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