Current funding rates on mainstream CEXs and DEXs indicate a significant strengthening of bearish market sentiment.

BlockBeats news, September 28th, according to Coinglass data, as Bitcoin weakens again, the current funding rates of mainstream CEXs and DEXs indicate a significant increase in bearish market sentiment, 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 so that the contract price remains 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 that the market is generally bullish. When the funding rate is less than 0.005%, it indicates that the market is generally bearish.