Despite the significant market rebound, funding rates still reflect strong bearish sentiment.

BlockBeats News, February 7, according to Coinglass data, although the market has rebounded significantly since early yesterday, with bitcoin rising from $60,000 to nearly $70,000, the current funding rates on major CEX and DEX platforms show that bearish sentiment in the market remains strong. The specific funding rates are shown in the attached chart.

BlockBeats note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of underlying assets, usually applied to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders. The trading platform does not charge this fee; it is used to adjust the cost or profit of holding contracts for traders, so that contract prices remain close to the prices of the underlying assets.

When the funding rate is 0.01%, it indicates the benchmark rate. When the funding rate is greater than 0.01%, it means the market is generally bullish. When the funding rate is less than 0.005%, it means the market is generally bearish.