Current major CEX and DEX funding rates indicate the market has returned to a significant bearish sentiment

BlockBeats news, on June 5, according to Coinglass data, as Bitcoin continued to plunge today, once dropping to $61,126.01, the current mainstream CEX and DEX funding rates show the market has turned significantly bearish again. Specific funding rates are shown in the attached chart.

BlockBeats note: The funding rate is a fee set by cryptocurrency trading platforms to maintain a balance between the contract price and the underlying asset price, and is usually applied to perpetual contracts. It serves as a funding exchange mechanism between long and short traders. The trading platform does not collect this fee, but it is used to adjust the cost or return for traders holding contracts so the contract price stays close to the underlying asset price.

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.