Current mainstream CEX and DEX funding rates indicate that the market is still generally bearish
BlockBeats News, May 9th, according to Coinglass data, as Bitcoin fell below the $80,000 mark, the current mainstream CEX and DEX funding rates show a bearish sentiment in the market, with specific funding rates as shown in the attached image.
BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a funding 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 baseline rate. When the funding rate is above 0.01%, it indicates a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.
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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