Current mainstream CEX and DEX funding rates indicate that the market sentiment remains bearish

BlockBeats News, April 30th, according to Coinglass data, Bitcoin dropped below $76,000. The current funding rates on major CEXs and DEXs indicate a market sentiment favoring shorts. 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 applied to perpetual contracts. It is a mechanism for fund exchange 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 above 0.01%, it indicates a bullish market sentiment. When the funding rate is below 0.005%, it indicates a bearish market sentiment.