Annualized funding rate for Bitcoin perpetual futures contract on Binance exceeds 100% for first time in at least a year

Odaily News According to data from Velo Data and CoinGlass, the annualized funding rate of the Bitcoin perpetual futures contract on Binance exceeded 100% for the first time in at least a year. Funding rates on Bybit and Deribit increased to 95% and 56% respectively. Rising funding rates indicate bullish sentiment in the market, or a bullish leverage ratio. Markus Thielen, founder of 10X Research, said the increase in funding rates may stem from traders making bullish bets in anticipation that funds will continue to flow into U.S. spot ETFs. (CoinDesk)