Current funding rates on major CEXs and DEXs indicate that the market remains broadly bearish.

According to data from Coinglass, current funding rates on major CEXs and DEXs show that although the crypto market has rebounded in the past two days, participants remain largely bearish, with funding rates for almost all asset trading pairs being negative.

BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain a balance between contract prices and the price of the underlying asset, typically applicable to perpetual contracts. It is a mechanism for exchanging funds between long and short traders; 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 price of the underlying asset.

A funding rate of 0.01% represents the benchmark rate. A funding rate greater than 0.01% indicates a generally bullish market sentiment. A funding rate less than 0.005% indicates a generally bearish market sentiment.