The current mainstream CEX and DEX funding rate displays a deepening bearish market sentiment

BlockBeats News, April 10th, according to Coinglass data, as Bitcoin once again rose above $72,000 today, the current mainstream CEX and DEX funding rates show a deepening bearish market sentiment, with specific funding rates 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 applicable to perpetual contracts. It is a fund exchange mechanism between long and short traders, and the exchange 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 represents a generally bullish market. When the funding rate is less than 0.005%, it represents a generally bearish market.