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

BlockBeats News, April 7th, according to Coinglass data, as Bitcoin saw a slight rebound breaking above $69,000, the current mainstream CEX, DEX funding rates show an overall bearish market sentiment, with specific funding rates as shown in the attached image.

BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain balance between the contract price and the underlying asset price, usually applied to perpetual contracts. It is a mechanism for fund exchange between long and short traders, and the exchange does not take this fee, using 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 indicates the baseline rate. When the funding rate is greater than 0.01%, it represents a generally bullish market. When the funding rate is less than 0.005%, it represents a generally bearish market.