BTC perpetuals on Gate just completed a settlement, with a funding rate of 0.0049%. This figure is slightly above zero, indicating who paid whom during this settlement period: with a positive rate, longs pay shorts. The rate is very small, suggesting the market has no clear direction rather than either side making a heavy bet.

A single settled funding rate only tells you the cost of holding a position during that period; it doesn’t reveal what will happen next.

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