Traders who glance at Bitcoin perpetual futures funding rates often notice a stubborn pattern: across exchanges, the rate rarely strays far from 0.01% per 8-hour interval. That number feels like background noise, a trivial cost. But according to a deep analysis from WuBlockchain, reposting a thread by trader danny (@agintender), this 0.01% is not a benign coincidence. It is an exchange-embedded benchmark that extracts carry costs from longs and quietly reinforces a liquidity engine that benefits market makers and venues alike.