Why are the funding rates so different?

I’m wondering how funding rates can differ so drastically between platforms. As of August 8, 2026, 18:27: Bitget BTCUSDC: +0.0032% OKX BTCUSDC: -0.03198% Apart from the fact that longs pay shorts on Bitget while it’s the other way around on OKX, the difference between the funding rates is huge. Can anyone explain what causes such a massive difference?

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