BTC Funding Rates Float Up as Funding Gap Widens on All Three Exchanges

IconCryptoNewsTerminal Staff10 Jul, 2024

cryptonews.jpg

BTC Funding Rates Float Up as Funding Gap Widens on All Three Exchanges

The latest 24-hour BTC perpetual futures long/short position ratio of the world's three major cryptocurrency exchanges based on open interest are as follows: Overall exchange: Long 48.83% / Short 51.17% 1. Binance: Long 49.23% / Short 50.77% 2. OKX: Long 48.53% / Short 51.47% 3. dYdX: Long 52.28% / Short 47.72% The funding rate is a fee paid by traders who hold long or short positions to traders who hold the opposite position. A positive funding rate indicates that there are more long positions than short positions, and a negative funding rate indicates that there are more short positions than long positions. The funding rate has been floating up on all three exchanges in recent days, as the funding gap has widened. This suggests that there is increasing demand for long positions, as traders bet on a continued rise in the price of Bitcoin. It is important to note that the funding rate can change rapidly, and it is not always a reliable indicator of the future price of Bitcoin. However, it can be a useful tool for traders who are looking to make informed decisions.

Related News