Current funding rates across major CEXs and DEXs indicate the market remains broadly bearish

BlockBeats News, July 18: According to Coinglass data, as Bitcoin today has seen a slight strengthening and remains range-bound, current funding rates across major CEXs and DEXs show that the market maintains an overall bearish sentiment. The specific funding rates are shown in the attached image.

BlockBeats Note: Funding rate is a fee set by cryptocurrency trading platforms to maintain a balance between the contract price and the price of the underlying asset. It is typically used for perpetual contracts. It is a mechanism for funding exchanges between long and short traders. The trading platform does not collect this fee; it is used to adjust the cost or profit of traders holding the contract, 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 means the market is broadly bullish. When the funding rate is less than 0.005%, it means the market is broadly bearish.