Current funding rates across major CEXs and DEXs show the market is back to a clearly bearish stance

BlockBeats message: July 12, according to Coinglass data, as Bitcoin today slightly dipped and remained range-bound, the current mainstream CEX and DEX funding rates show the market has returned to a significant bearish stance. The specific funding rates are shown in the attached image.

BlockBeats Note: Funding rate is a fee set by cryptocurrency trading platforms to maintain balance between the contract price and the price of the underlying asset; it is typically used for perpetual futures contracts. It is a funding exchange mechanism between long and short traders. The trading platform does not collect this fee; it is used to adjust the cost or profit for traders holding the contracts, so that the contract price stays close to the underlying asset price.

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