Jan 23, 2026
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Ethereum Funding Rates Edge Negative as Price Struggles Below $3,000
Ethereum Under Pressure Below $3,000
- Ethereum is trading at $2,925, down 2.7% within a 24-hour range of $3,012.99 to $2,909.60.
- On-chain data shows funding rates moving towards negative, indicating defensive derivative positioning.
Funding Rates and Market Sentiment
- The OI-weighted funding rate for Ethereum is compressing, close to negative levels at 0.0008%, compared to 0.009% earlier in the month.
- Negative funding rates suggest stronger demand for short positions, indicating bearish sentiment.
Open Interest and Liquidations
- Total open interest remains high, increasing by 0.68% to about 13.36 million ETH (~$39.19 billion).
- Binance holds the largest share of ETH open interest at $8.95 billion, down by 0.8% in 24 hours. CME follows with $5.73 billion, up by 3.72%.
- Ethereum liquidations reached $64.34 million in the last 24 hours, with long positions accounting for $52.52 million.
A hold above $2,900 could stabilize funding rates, potentially leading to a rebound attempt towards $3,000. Continued negative funding rates may lead to further bearish pressure below $2,900.
