ETH Funding Rate Panorama: An Overview of Fee Rate Differences Across Three Major Exchanges

【BitPush】According to the latest on-chain data, ETH’s average funding rate over the past 8 hours remains at 0%. However, a closer look at major platforms reveals interesting differences—one leading exchange’s rate is at 0.0019%, another exchange has dropped to -0.0039% (indicating shorts are dominant), while a certain platform is stuck at 0.0008%.

Negative funding rates are rare, indicating that the market’s short positions are temporarily outweighing longs. A reverse rate usually means shorts are paying longs. For long traders, taking a long position at this time allows them to earn the reverse funding rate, effectively receiving a subsidy from the platform. Conversely, shorts need to pay extra costs to maintain their positions.

Although the rate differences across exchanges may seem small, for large funds or those frequently engaging in hedging, these small differences can add up and become noticeable. Some traders profit by arbitraging these price disparities.