Current mainstream CEX and DEX funding rates indicate that market sentiment for shorting is still strong

BlockBeats News, April 28th, according to Coinglass data, Bitcoin dropped below $77,000. The current funding rate on major CEXs and DEXs indicates that the market is still overwhelmingly bearish. The specific funding rates are 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 mechanism for fund exchanges between long and short traders, and the exchange 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 above 0.01%, it indicates a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.