On August 23, according to Coinglass data, although Ethereum hit a record high this morning, the funding rate of ETH contracts on mainstream CEXs remains generally neutral. The specific data is shown in the figure.
BlockBeats Note: Funding rates are fees set by cryptocurrency exchanges to maintain a balance between the contract price and the price of the underlying asset. They typically apply to perpetual contracts. Funding rates are a mechanism for exchanging funds between long and short traders. Exchanges do not charge this fee, but rather adjust the cost or benefit of holding contracts to keep the contract price close to the underlying asset price.
When the funding rate is 0.01%, it represents the base rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.
