Current mainstream CEX, DEX funding rate shows overall market in a strong bearish trend
BlockBeats News, March 20th, according to Coinglass data, as Bitcoin saw a slight pullback today, the current mainstream CEX, DEX funding rates indicate an overall bearish market sentiment, with specific funding rates shown in the attached image.
BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to keep the contract price balanced with the underlying asset price, usually applicable to perpetual contracts. It is a fund exchange mechanism 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 benchmark rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market sentiment. When the funding rate is less than 0.005%, it indicates a generally 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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