Current mainstream CEX and DEX funding rates indicate a weakening bearish sentiment in the market

BlockBeats News, May 22nd, according to Coinglass data, as Bitcoin holds steady, the current mainstream CEX and DEX funding rates show a weakening bearish sentiment, with specific funding rates as shown in the chart below.

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 applied to perpetual contracts. It is a fund exchange mechanism 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 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.