Is the Merge a sell-the-news event? Data hints at a potential 50% crash in the coming months.
dropped below zero—to their worst levels to date—before the Merge. The rate dropped to as low as -0.6% on BitMex.Funding rates are a percentage of the fee paid to either short or long position holders. The platform decides the fee based on the difference between the perpetual futures contract and the spot price.
Currently, Ether's funding rate average is around -0.1%. In other words, traders with a $1 million short ETH position are willing to pay those with long positions $1,000 every eight hours .However, a consistently negative funding rate also increases On the daily chart, ETH/BTC dropped to 0.078 BTC on Sept. 15, almost a week after topping out at 0.085 BTC. The pair's correction came after aETH/BTC daily price chart. Source: TradingView
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