Current mainstream CEX and DEX funding rate data shows that the market is still in a bearish trend

BlockBeats News, March 13, according to Coinglass data, the current mainstream CEX and DEX funding rates indicate that the cryptocurrency market is still in a bearish trend. The funding rates for specific mainstream coins are shown in the attached image.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a funding exchange mechanism 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 to keep the contract price close to the underlying asset price.

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