BlockBeats News, December 22nd, according to Coinglass data, after the market recently experienced a surge and rose above $90,000, the BTC funding rates on platforms such as Binance, OKX, Bybit, and Bitget have returned to neutral. However, altcoins such as Ethereum still exhibit widespread negative funding rates. The specific funding rates for major coins are shown in the attached image.
BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders, and the trading platform does not collect this fee. It is used to adjust the cost or profit of contract holders to keep the contract price close to the underlying asset price.
When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market sentiment. When the funding rate is less than 0.005%, it indicates a generally bearish market sentiment.
