Glassnode data shows that the Ethereum futures funding rate (funding rate) is still higher than the 2023 bear market indicates that the market may be volatile and well below the peak in 2021. This dynamic illustrates the complex interaction between futures funding rates and addressable market trends, and also indicates that the market may be volatile. The Ethereum futures perpetual contract funding rate refers to the average funding rate (in%) set by the exchange for perpetual futures contracts. When the rate is positive, long positions are regularly paid to short positions, and conversely, short positions are regularly paid to long positions when the rate is negative. The spike in funding rates usually coincides with Ethereum price fluctuations, indicating a change in market sentiment.