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

BlockBeats News, August 10th, according to Coinglass data, as Bitcoin saw a slight increase, the current mainstream CEX and DEX funding rates show a significant weakening of the bearish sentiment. The specific funding rates are as shown in the chart below.

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 applicable to perpetual contracts. It is a mechanism for fund exchange 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 benchmark 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 signifies a generally bearish market.