The real bull market charges upward with a 1% positive funding rate, while an epic bear market free-falls with a -1% funding rate. The reason funding rates are still a topic now is because we’re in a consolidation phase, no clear trend—this kind of market is what kills funding rates. So, the only true bears are those holding no positions, and the only true bulls are those holding spot. As for those trading contracts (myself included), no matter which side we’re on, we’re all just f***ing retail traders.