The current mainstream CEX and DEX funding rate shows a widespread bearish market, with funding rates on various platforms generally in negative territory

BlockBeats News, March 22nd, according to Coinglass data, Bitcoin is currently trading at $69,275.33, a 24-hour decrease of 1.93%; Ethereum is currently trading at $2,103.95, a 24-hour decrease of 2.18%. The current mainstream CEX and DEX funding rates indicate a bearish market sentiment overall, with a clear dominance of short positions. Specifically, the BTC and ETH funding rates on various platforms including Binance have recorded negative values, with shorts continuously paying fees to longs to maintain their positions. The specific funding rates for mainstream coins are as shown in the attached image.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to balance the contract price 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 closely aligned with 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.