BitMEX research shows that the extreme funding rate for Bitcoin Perpetual Futures has dropped by 90% since 2016, indicating that the market is maturing.

BitMEX research shows that the extreme funding rate for Bitcoin perpetual contracts has plummeted by 90% since 2016, signaling the maturity of the market. The study covers data from May 2016 to May 2025, revealing a trend of the market moving from high volatility to stability. (Synopsis: BitMEX Launches June Sprint Trading Contest: Share 3 BTC Prize Pool) (Background Supplement: The Evolution of Funding Rates: From the Golden Age of 2021 to the 2024-2025 Arbitrage Renaissance) (This article is widely compiled, written and provided by BitMEX, and does not represent the position of the region, nor is it investment advice, purchase or sale advice.) For details, please refer to the liability warning at the end of the article. MAHE, Seychelles, June 30, 2025 – BitMEX, the safest cryptocurrency exchange, today released the results of its comprehensive study of XBTUSD, the longest-running Bitcoin perpetual contract, to shed light on the evolution of the funding rate market. The study, which covers data from May 2016 to May 2025, reveals significant changes in funding rate patterns, marking a shift in market from high volatility to unprecedented stability. Since BitMEX pioneered perpetual contracts in 2016, they have become one of the most traded financial products in the world. A key component of these products is the funding rate, which is a fee paid periodically between holders of long and short positions in perpetual contracts, designed to align the token's futures price with its spot price. Funding rates are essential to identify market arbitrage opportunities and gauge market sentiment. This report, which delves into BitMEX XBTUSD's long history of perpetual contracts, reveals several key insights: Extreme funding rates plunged 90%: Since 2016, Bitcoin has no longer experienced extreme funding rates, and its occurrence rate has plummeted by a staggering 90%. It is worth noting that the data for 2024-2025 shows significant stability, and this trend continues even if the price of Bitcoin breaks through $100,000. This is a clear indication that the cryptocurrency market is maturing and Bitcoin is transforming from a highly speculative asset into a more stable financial instrument. Mainstream integration drives stability: The launch of Bitcoin ETFs in January 2024, along with the emergence of decentralized finance (DeFi) protocols like Ethena, played a key role in facilitating large-scale arbitrage. These developments further anchor futures prices to spot prices, thereby improving market efficiency. Era of Stable Funding Rates: The current stable funding rate environment indicates a significant reduction in market volatility. This stability could make Bitcoin a more reliable asset in institutional portfolios and have broader implications for traditional financial markets. Stephan Lutz, CEO of BitMEX, said: "Our research highlights a profound shift in the Bitcoin perpetual contract market. Extreme funding rates are no longer on XBTUSD, confirming the growing maturity and institutional acceptance of cryptocurrencies. As one of the oldest cryptocurrency exchanges, we are excited to share these market insights with our traders and strengthen the integration of the crypto industry with the global financial landscape." To learn more about the study, please click here. About BitMEX BitMEX is a pioneering exchange for crypto derivatives trading, providing a platform for professional cryptocurrency traders to meet their needs through low latency, deep crypto-native liquidity, and unmatched reliability. Since its inception, BitMEX has never lost any cryptocurrency due to intrusion or hacking, allowing BitMEX users to trade with peace of mind knowing that their funds are safe. At the same time, BitMEX also ensures that they can use the products and tools they need to monetize. BitMEX was also one of the first exchanges to publish on-chain proof of reserves and proof of liabilities data. The exchange continues to publish this data twice a week to prove that they securely store and segregate funds in custody. To learn more about BitMEX, visit www.bitmex.com, Twitter, and its online community. (Disclaimer: The content of this article is a publicity manuscript provided by the contributor, and the contributor has no relationship with the moving area, and this article does not represent the position of the moving area.) This article is not intended to provide any investment, asset advice or legal advice and should not be construed as an offer to buy, sell or hold assets. Any services, programs or tools, etc. mentioned in the content of the publicity manuscript are for reference only, and the final actual content or rules are subject to the announcement or explanation of the contributor, and the moving area is not responsible for any possible risks or losses, and readers are reminded to check carefully before making any decisions or behaviors. Related reports Arthur Hayes interview: Bitcoin rushes 250,000 magnesium, altcoins will not rise, I don't open leveraged contracts Arthur Hayes: Bitcoin's weakness is "only temporary", Fed soon turns on the printing machine Crypto gambler's blood record: Feeding by desire in contracts, swallowed by fate – Zhejiang Reborn, James Wynn, Liangxi..."BitMEX research shows: Bitcoin perpetual contract extreme funding rates have plummeted by 90% since 2016, This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".