Current mainstream CEX and DEX funding rates indicate a further bearish sentiment in the market

BlockBeats News, April 24th, according to Coinglass data, as Bitcoin saw a slight decline and remained range-bound, the current mainstream CEX and DEX funding rates indicate a deepening bearish sentiment in the market. The specific funding rates are shown in the attached image.

BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders, and the trading platform does not collect this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price.

When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.