Current funding rates on mainstream CEXs and DEXs indicate a broad shift to bearish market sentiment.

BlockBeats news, September 16th, according to Coinglass data, as Bitcoin's decline continues, current funding rates on mainstream CEXs and DEXs indicate a shift to a broadly bearish market, with specific funding rates as shown in the attached image.

BlockBeats note: Funding rate is a rate set by cryptocurrency trading platforms to maintain balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. It is a mechanism for exchanging funds between long and short traders; the trading platform does not charge this fee, and it is used to adjust the cost or profit of traders holding contracts so that contract prices remain close to underlying asset prices.

When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates the market is broadly bullish. When the funding rate is less than 0.005%, it indicates the market is broadly bearish.