Current mainstream CEX and DEX funding rate displays market-wide bearish sentiment

BlockBeats News, March 18th, according to Coinglass data, as Bitcoin experienced a slight pullback today, the current mainstream CEX and DEX funding rates indicate a mostly bearish market sentiment. The specific funding rates 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 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.