Current mainstream CEX and DEX funding rates display a significant decrease in bearish sentiment

BlockBeats News, May 20th, according to Coinglass data, as Bitcoin continues to range, the current mainstream CEX and DEX funding rates show a significant weakening of bearish sentiment, as shown in the specific funding rates 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 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 represents a generally bullish market. When the funding rate is less than 0.005%, it represents a generally bearish market.