Current mainstream CEX and DEX funding rate displays marketwide bearish sentiment

BlockBeats News, March 20th, according to Coinglass data, with Bitcoin experiencing a slight decline today, the current mainstream CEX and DEX funding rates indicate an overall bearish market sentiment, as shown in the specific funding rates in the attached image.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to maintain balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders, and the trading platform does not collect 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 sentiment. When the funding rate is less than 0.005%, it indicates a generally bearish market sentiment.