Current mainstream CEX and DEX funding rate displays marketwide bearish sentiment

BlockBeats News, February 16th, according to Coinglass data, Bitcoin maintained a range-bound trend. Currently, mainstream CEX and 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 maintain the balance between the contract price and the underlying asset price, usually applied to perpetual contracts. It serves as a fund exchange mechanism between long and short traders. The trading platform does not charge this fee but uses it 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 sentiment. When the Funding Rate is below 0.005%, it indicates a generally bearish market sentiment.