The Binance Spot-Perp spread has turned negative after remaining positive for a month. This suggests that the Perp price is below the spot price and that there may be a short-term selling pressure and a bearish trend in the derivatives market. However, this signal is not yet significant as funding rates remain low. With open interest at high levels, this metric will need to be closely monitored to determine whether the market is entering a short-term correction or an accumulation phase.