TechFlow news, on January 6, Matrixport released today's chart stating, "Perpetual contract funding rates remain one of the most intuitive and effective indicators for identifying abnormal volatility in the cryptocurrency market. Looking back at the two rounds of 'mini bull markets' for altcoins in March-April 2024 and November 2024, funding rates had noticeably risen and even surged at times; whereas during the correction in October 2025, funding rates quickly turned negative, with market deleveraging characteristics becoming more prominent.
However, these fluctuations lack sustainability: more often than not, they are short-term spikes followed by a rapid decline. This also indicates that altcoin trends often exhibit phased characteristics, driven more by speculative capital. For reference, under normal circumstances, funding rates typically stabilize at a moderate level around an annualized +5%. Therefore, the next round of altcoin trends that more closely resemble a 'real bull market' will most likely be accompanied by a more sustained rise in funding rates, maintaining levels above the norm for an extended period."
