After a strong market rebound, mainstream CEX and DEX funding rates still indicate a bearish outlook
BlockBeats News, March 3rd, according to Coinglass data, Bitcoin led altcoins in a strong rebound after the opening of today's U.S. stock market. However, current mainstream CEX and DEX funding rates indicate that the market is still overall bearish. Specific funding rates for mainstream coins are shown in the attached image.
BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain the balance between contract prices and underlying asset prices, usually applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders, and the trading platform does not charge 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 the market is generally bullish. When the funding rate is less than 0.005%, it indicates the market is generally bearish.
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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