Ether (ETH) Funding Rates Signal Stronger Bearish Sentiment Than Bitcoin

Ether’s funding rates pointed to stronger bearish sentiment than Bitcoin’s in figures dated Nov. 15, as both assets fell over the prior 24 hours and Ether posted the larger decline.

Nov. 15 figures put Ether (ETH) at $1,806.59, down 4.84% over 24 hours. Bitcoin (BTC) was at $64,837.80, down 3.13% over the same period.

Bitcoin’s open-interest-weighted and trading-volume-weighted funding rates were both 0.0020%. Ether’s open-interest-weighted rate was 0.0001%, while its trading-volume-weighted rate was negative 0.0003%.

Funding rates are payments between traders holding opposing positions in perpetual futures. The payments help keep contract prices close to spot prices. The rates were reported on an eight-hour basis; 0.01% is the benchmark, while readings below 0.005% indicate broadly bearish sentiment. All four were below that threshold, and Ether’s volume-weighted reading was the only negative one.