Current funding rates on major CEXs and DEXs indicate a weakening bearish sentiment in the market
BlockBeats news, on June 30, according to Coinglass data, as Bitcoin continues to fluctuate today, the current funding rates on major CEX and DEX platforms indicate a weakening bearish sentiment in the market. Specific funding rates are shown in the attached chart.
BlockBeats note: Funding rate is a fee set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applied to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders — the platform does not collect this fee. The rate is used to adjust the cost or yield for traders holding contracts, to keep contract prices close to underlying asset prices.
When the funding rate is 0.01%, it represents the base rate. When the funding rate is higher than 0.01%, it indicates a bullish market sentiment. When the funding rate is less than 0.005%, it signals a bearish market sentiment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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