Current funding rates on mainstream CEXs and DEXs indicate a weakening bearish market sentiment.

BlockBeats news, September 20th, according to Coinglass data, as Bitcoin strongly broke through $80,000 and then maintained a fluctuating trend, the current funding rates of mainstream CEXs and DEXs indicate a weakening bearish sentiment in the 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 a balance between the contract price and the underlying asset price, typically applicable to perpetual contracts. It is a mechanism for exchanging funds 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 general bullish sentiment in the market. When the funding rate is less than 0.005%, it indicates a general bearish sentiment in the market.