Ethereum funding rates had taken a beating after the Merge was completed. This event was the single most anticipated upgrade in the history of the network, and it had affected both price and funding rates in adverse ways. However, as the market begins to settle into the new normal of Ethereum being a proof of stake network, things are beginning to stabilize. One of those is funding rates returning to pre-Merge levels.
Funding Rates Stabilizing
The days leading up to the Ethereum Merge had been extremely volatile for the crypto market. Ethereum itself had borne the brunt of this, and even though the days leading up to the upgrade were filled with positive movement, it had quickly changed.
Ethereum funding rates nosedived on the back