Current mainstream CEX and DEX funding rates indicate the market has returned to a significant bearish sentiment.

BlockBeats News, July 12th, according to Coinglass data, as Bitcoin saw a slight decline today and maintained its range-bound movement, the current funding rates on major CEXs and DEXs indicate a significant return to a bearish market, as shown in the specific funding rates in the image below.

BlockBeats Note: The funding rate is a fee set by a cryptocurrency exchange to keep the contract price in line with the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders, and the trading platform does not take this fee but uses it 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 generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.