# Chart of The Week: BTC Perpetual Futures Funding Rates

## Метаданные

- **Канал:** glassnode
- **YouTube:** https://www.youtube.com/watch?v=SoSKomMkfsk
- **Дата:** 07.05.2026
- **Длительность:** 3:46
- **Просмотры:** 1,385

## Описание

Welcome to "Chart of the Week" by Glassnode. This series offers bite-sized insights into the market via different charts each week.

BTC Perpetual Futures Funding Rate Chart: https://glassno.de/3OS3Iyl

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Disclaimer:
This video does not provide any investment advice. All data is provided for information purposes only. No investment decision shall be based on the information provided here and you are solely responsible for your own investment decisions.

## Содержание

### [0:00](https://www.youtube.com/watch?v=SoSKomMkfsk) Segment 1 (00:00 - 03:00)

Hey guys, welcome back to chart of the week with Glassnode, where we run you through some of the most important charts in crypto. Today I want to spend some time looking at perpetual futures funding rates for Bitcoin. Today we'll be looking at the aggregate across all exchanges. Obviously, we do allow you to go and zoom in on specific exchanges, too. Okay, so what are perpetual futures funding rates? Um Typically in traditional finance, your futures are periodic futures, so they don't have a funding rate, but essentially it's an agreement to buy or sell a good at a specified uh time in the future. So, let's say it's 3 months down the line, somebody that has a positive outlook on corn will pay a higher price than uh the current price today for corn. Okay, so you can already see it can be used as a indication of sentiment. If the price is above, positive sentence uh sentiment, below, negative sentiment. So, let's just do a quick case study of 2020 and 2021. This is the COVID crash in 2020, where prices fell through the floor, and everyone was petrified. Uh people were paying an incredibly high fee, shorts fee to be short the market because everyone was petrified, and everyone was short the market. And you can see price slowly but surely climbed the wall of worry. If I go and zoom in on that, extreme negative funding, and price slowly climbed out of this. Okay, but if we look at the top of the 2021 bull market, the opposite was the case. Everybody was very positive on the market, everyone was long, leveraged long, pushing the futures price above the spot market. Okay, so negative funding, futures price is below the spot market, positive funding, which generally tends to be the case in the long run. It's just slightly positive is the way that it generally averages out. But extreme positive funding is extreme positive sentiment, exuberance, and that's something you want to be cautious of. Okay, now that you understand the sentiment aspect of funding, let's look at the recent funding regime. We've had a prolonged period of negative funding rates, meaning that sentiment is pretty negative at the moment. Um you have a lot of people that are potentially hedged. So, there's the theory that a lot of ETF holders are just hedging their bags, so they don't experience further downside, and they are okay with paying 10 to 20% funding rates um to be short the market and to secure their hedge. Okay? But there's also a cohort of people that will be expecting lower prices for Bitcoin. They will be shorting this market and paying a pretty handsome fee to longs in order to do so. And as you saw with the COVID crash, price has slowly climbed the wall of worry, and as this futures price goes higher and further above the spot price, this funding rate this negative funding rate will become more negative, forcing the shorts to pay a higher fee every 8 hours. So, what you have here is a potentially a short squeeze or in the making. So, when price grinds up slowly like this, it allows people to obviously top up their margin and actually manage their positions a bit better. So, this isn't necessarily a squeeze, squeezes are usually quite fast. Um but this is a certainly applying quite a lot more pressure onto shorts. Um we do speak about this in the week on chain, so if you haven't obviously gone and read that, I suggest you do so. Um but yeah, I hope you learned something from this video, and I will see you on the next chart of the week. Keep well.

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*Источник: https://ekstraktznaniy.ru/video/53145*