Ether Funding Rates Sit in Neutral Range Below Bitcoin on Nov. 2

Ether (ETH) funding rates were in a neutral range on Monday, Nov. 2, and below Bitcoin (BTC)’s in the same snapshot, with all four readings above the level associated with bearish positioning.

Ether rose 0.65% to $2,285.78.

Ether’s open-interest-weighted funding rate was 0.0062%, while its trading-volume-weighted rate was 0.0064%.

Bitcoin’s corresponding rates, weighted by open interest and trading volume, were 0.0075% and 0.0071%, respectively. All four readings were below the 0.01% benchmark for bullish positioning and above 0.005%, the threshold below which rates indicate bearish positioning.

Funding rates determine payments exchanged between traders in long and short positions in perpetual futures. The payments help keep contract prices close to spot prices. The figures use an eight-hour basis.