Current Funding Rates on Major CEXs and DEXs Indicate a Predominantly Bearish Market Sentiment

BlockBeats News, August 3—According to data from Coinglass, the current funding rates on major CEXs and DEXs indicate a generally bearish market sentiment. The specific funding rates for major cryptocurrencies are shown in the attached chart.

BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain a balance between contract prices and the prices of underlying assets, typically applied to perpetual contracts. This is a mechanism for the exchange of funds between long and short traders; the trading platform does not collect this fee. It is used to adjust the cost or yield of holding contracts, keeping contract prices close to those of the underlying assets.

When the funding rate is 0.01%, it represents the benchmark rate. If the funding rate is higher than 0.01%, it indicates a generally bullish market. If the funding rate is lower than 0.005%, it indicates a generally bearish market.