The current mainstream CEX and DEX funding rate display indicates that the market is still generally bearish

BlockBeats News, May 5th, according to Coinglass data, currently the funding rate on mainstream CEX and DEX platforms indicates a bearish market sentiment. The funding rates for specific mainstream coins are shown in the attached image.

BlockBeats Note: The funding rate is a fee set by cryptocurrency trading platforms to maintain the balance between the contract price and the underlying asset price, usually applied 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 signifies a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.