Surging funding rates in the perpetuals market for bitcoin

The funding rates of the bitcoin perpetuals remain extremely high this week.
Source: Digital Assets Data

During the sell-off on Monday, Jan 11th, the aggregated funding rates once again reached levels around 0.15% per hour.

Given that funding rates are calculated based on the difference in prices on the perpetuals contracts compared to spot, a high funding rate comes as an effect of a high premium in these contracts.

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