The Perpetual Funding Rate on the Whole Network Drops to the Extreme Negative Value, While the Rate Soars Unusually on Binance

BlockBeats News, June 9th, according to Coinglass data, as the price of H plummeted, the H network-wide open interest weighted funding rate has dropped to the extreme negative value, now at -1.45%.

It is worth noting that among major platforms, apart from Binance where the rate is now -0.01% (charged per hour), the rates on other mainstream platforms have dropped to the extreme negative value of that platform. Records show that an hour ago, the rate on Binance was -0.7%. As the platform with the largest trading volume of H contracts in the entire network, in the case of the contract price hitting 20 times the on-chain price, a significant increase in the rate may be a phenomenon worthy of attention.