Current mainstream CEX and DEX funding rates indicate a predominantly bearish market sentiment

BlockBeats News, July 18th, according to Coinglass data, as Bitcoin saw a slight strengthening today to maintain its ranging movement, the current funding rates on major CEXs and DEXs indicate an overall bearish sentiment in the market, as shown in the specific funding rates in the image below.

BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to keep the contract price balanced with the price of the underlying asset, typically applicable to perpetual contracts. It serves as a fund exchange mechanism between long and short traders, and the trading platform does not collect this fee. Instead, it is used to adjust the cost or profit of traders holding the contract to keep the contract price close to the price of the underlying asset.

When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is above 0.01%, it indicates a generally bullish market sentiment. When the funding rate is below 0.005%, it indicates a generally bearish market sentiment.