Current mainstream CEX and DEX funding rates indicate that market sentiment for short positions remains high

BlockBeats News, April 22nd, according to Coinglass data, Bitcoin surged above $77,000. The current mainstream CEX and DEX funding rates show that the market is still overall bearish, with specific funding rates as shown in the attached image.

BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to keep the contract price in line with the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund transfers 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 baseline rate. When the funding rate is above 0.01%, it indicates a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.