1. Current Funding Rate Landscape
According to Coinalyze, the aggregated current funding rates for ERA (Era7) across platforms are as follows:
Binance: +0.0011%
Bybit: +0.0025%
WOO X: –0.0145%
Predicted rates are slightly higher on Binance and Bybit .
This generally positive funding rate except on WOO X suggests mild bullish sentiment. On Binance and Bybit, long positions are paying shorts, indicating slight dominance of long-side demand.
2. Contrast with Your CoinGlass Snapshot
Your earlier CoinGlass screenshot showed significantly negative funding rates:
Binance: –0.2087%
Bybit: –0.4336%
This suggests that funding rates for ERA have shifted dramatically from clearly bearish (with shorts paying longs) to a more balanced or slightly bullish structure (with longs paying shorts).
3. What This Funding Rate Shift Could Mean
Market Sentiment: A shift from negative to neutral/positive rates may signal that the intense shorting pressure is easing, and more traders are starting to bet on or hold long positions.
Potential for Rebound or Reversal: According to broader funding rate analysis (e.g., for Bitcoin), deeply negative funding has historically aligned with market bottoms and often preceded sharp rebounds . If ERA followed a similar pattern, the shift could indicate a possible recovery phase.
WOO X Outlier: ERA’s rate on WOO X remains negative (–0.0145%), suggesting that bearish sentiment may still linger on that exchange, though the magnitude is modest compared to earlier figures.
4. Trading Insights
For Long Traders: A positive funding rate means you’re paying a small fee to hold long positions. If the shift reflects improving sentiment and higher prices, this cost may be worthwhile.
For Short Traders: Previously, shorts were paid handsomely, but now the advantage has largely evaporated. It becomes costlier to maintain a short position and riskier if a rebound accelerates.
5. Important Caveat
Funding rates are one of many indicators. They should be used along with price charts, volume, open interest, and fundamentals to form a complete picture.
What This Means for Traders
The technical indicators suggest that ERA could be on a bullish trajectory. But when volume is virtually zero, even strong chart signals can be misleading due to poor liquidity and potential for slippage.
Negative funding rates mean that long holders in perpetual contracts are being paid by shorts—this can attract opportunistic buyers if they anticipate a reversal.
However, the lack of trading volume is a red flag: price moves may be exaggerated or unsustainable in such illiquid conditions.