Current mainstream CEX, DEX funding rate displays market still remains overall bearish

BlockBeats News, January 30th, according to Coinglass data, the crypto market synchronized with the world's mainstream assets into a downturn. In the past 24 hours, the total net worth liquidated across the network was $1.687 billion. However, the current mainstream CEX and DEX funding rates indicate that the market is still overall bearish. Among them, some currencies such as BTC, ETH, SUI, BCH show slightly weaker bearish sentiment (positive funding rates), while other altcoins generally exhibit stronger bearish sentiment. Specific funding rates are shown in the attached image.

BlockBeats Note: 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 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 the market is generally bullish. When the Funding Rate is less than 0.005%, it indicates the market is generally bearish.