Current CEX and DEX Funding Rates Indicate Continued Bearish Market

On May 1, according to Coinglass data, as Bitcoin experienced a slight decline, the current funding rates of mainstream CEX and DEX indicate that the market remains broadly bearish, as shown in the attached chart. Note from BlockBeats: Funding rates are set by cryptocurrency trading platforms to maintain balance between contract prices and the prices of underlying assets, typically applicable to perpetual contracts. It serves as a funding exchange mechanism between long and short traders, and the trading platform does not charge this fee. Instead, it adjusts the cost or profit of the contracts held by traders to keep contract prices close to the prices of the underlying assets. A funding rate of 0.01% indicates the benchmark rate. When the funding rate is greater than 0.01%, it represents a generally bullish market. Conversely, when the funding rate is less than 0.005%, it indicates a generally bearish market.