Bitcoin Funding Rate Update: What It Means for Traders

⏰ Date & Time: August 18, 2024 !!

Understanding the Bitcoin funding rate is crucial for futures traders. It’s a key indicator that adjusts the price difference between the spot market and the futures market, updated every 8 hours. Here’s what the latest data reveals:

📊 Highest Funding Rate Pairs

Bitget BGB/USDT: 0.0600%
Traders are heavily leveraging long positions, meaning more traders are betting on price increases. Long positions are paying shorts.

📉 Lowest Funding Rate Pairs

Bitget RARE/USDT: -1.7981%
Short positions dominate, indicating traders expect prices to drop. Shorts are paying longs.

🔍 Bitcoin Funding Rate Across Exchanges

Binance: -0.0013%

OKX: 0.0011%

dYdX: 0.0071%

This indicates a slight preference for short positions on Binance, while OKX and dYdX show a tilt towards long positions. However, the rates are small, signaling minimal market imbalance.

Understanding these rates can give traders an edge, revealing which side of the market—long or short—is favored. Stay informed to make smarter trading decisions!

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