Current mainstream CEX and DEX funding rate displays show that BTC and ETH have been consistently in the bearish range, with market sentiment remaining gloomy

BlockBeats News, March 29th, according to Coinglass data, Bitcoin is currently trading at $66,699.75, with a 24-hour change of 0.24%; Ethereum is currently trading at $2,005.49, with a 24-hour change of 0.08%. The current mainstream CEX and DEX funding rates indicate a bearish signal for BTC and ETH, with market sentiment remaining subdued.

Specifically, the ETH funding rate is negative on most platforms, including Binance, while platforms like OKX, although positive, are all below the 0.005% threshold, indicating an overall bearish range. On the BTC side, several platforms, including Binance, are negative, with shorts continuously paying fees to longs to maintain their positions. The funding rates for specific mainstream coins are as shown in the attached image.

BlockBeats Note: Funding rates are rates 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, with the trading platform not charging this fee, 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. A funding rate greater than 0.01% indicates a generally bullish market sentiment. A funding rate less than 0.005% indicates a generally bearish market sentiment.