Current mainstream CEX, DEX funding rate displays market still leaning bearish

BlockBeats News, January 17th, according to Coinglass data, after experiencing a nearly 2-day pullback in the crypto market, the current mainstream CEX and DEX funding rates show that the market is leaning towards a bearish sentiment. The bearish sentiment towards altcoins is even stronger. Specific funding rates for mainstream coins are shown in the attached image.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to keep the contract price in line 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 baseline rate. When the Funding Rate is greater than 0.01%, it indicates a generally bullish market. When the Funding Rate is less than 0.005%, it represents a generally bearish market.