Current mainstream CEX and DEX funding rates indicate that the market still leans towards a bearish sentiment

BlockBeats News, August 5th, according to Coinglass data, as Bitcoin showed slight strength, the current fund rates on major CEXs and DEXs indicate a market bias towards bearishness, as shown in the specific fund 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 underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund exchange 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 indicates the benchmark rate. When the funding rate is greater than 0.01%, it represents a generally bullish market sentiment. When the funding rate is less than 0.005%, it indicates a generally bearish market sentiment.