Current mainstream CEX and DEX funding rates indicate a significant weakening of the bearish trend in the market

BlockBeats News, April 16th, according to Coinglass data, as Bitcoin continues its rally, the current funding rates on major CEXs and DEXs show a significant weakening of the bearish 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 the balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a mechanism of fund exchange 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 close to the underlying asset price.

When the funding rate is 0.01%, it represents the benchmark 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.