Ethereum (ETH) perpetual futures funding rates have jumped to 18% annualized, the highest level since May, indicating a surge in market sentiment. This suggests that traders are betting on ETH ahead of the upcoming U.S. presidential election, potentially anticipating a positive outcome for the altcoin. Funding rates in futures trading represent the interest paid by traders to keep a futures contract open. Positive funding rates, like in this case, indicate that traders are willing to pay a premium to bet bullish on ETH, while negative rates indicate a bearish market sentiment.