According to CoinGlass data, the weighted funding rates for BTC positions and trading volume are 0.0097% and 0.0091%, respectively, both in the neutral range; the two weighted funding rates for ETH are 0.0111% and 0.0123%, both above the 0.01% benchmark rate, entering the bullish range.

Although the spot price of ETH has dropped more significantly, the bullish sentiment in its contract market is still clearly stronger than that of BTC. Funding rates are the rates set by cryptocurrency trading platforms to maintain the balance between perpetual contract prices and the prices of underlying assets, serving as a mechanism for the exchange of funds between long and short traders. When the funding rate is 0.01%, it indicates the benchmark rate; above 0.01% represents a generally bullish market, while below 0.005% indicates a generally bearish market.