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

BlockBeats News, May 1st, according to Coinglass data, as Bitcoin saw a slight decline, the current mainstream CEX and DEX funding rates indicate that the market remains predominantly bearish. The specific funding rates are shown in the attached image.

BlockBeats Note: The funding rate is a rate set by cryptocurrency exchanges to maintain balance between the contract price and the spot price, usually applied to perpetual contracts. It is a mechanism for 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 spot price.

When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.