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

BlockBeats News, August 7th, according to Coinglass data, as Bitcoin saw a slight increase, the current funding rates on major CEXs and DEXs indicate a return to a significantly bearish market, as shown in the specific funding rates in the attached image.

BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, usually applied to perpetual contracts. It is a mechanism for fund transfers 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 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.