Current Mainstream CEX and DEX Funding Rates Indicate Deepening Bearish Market Sentiment

On April 24, according to Coinglass data, as Bitcoin slightly declines and maintains volatility, the current funding rates of mainstream CEX and DEX indicate a deepening bearish market sentiment, as shown in the attached chart. Note from BlockBeats: Funding rates are set by cryptocurrency trading platforms to maintain a balance between contract prices and the prices of underlying assets, typically applicable to perpetual contracts. It serves as a mechanism for the exchange of funds between long and short traders, and trading platforms do not charge this fee. Instead, it is used to adjust the cost or profit of traders holding contracts, keeping contract prices close to the prices of underlying assets. A funding rate of 0.01% indicates the baseline rate. When the funding rate is greater than 0.01%, it signifies a generally bullish market. Conversely, when the funding rate is less than 0.005%, it indicates a generally bearish market.