Current mainstream CEX and DEX funding rates indicate a fully bearish market
BlockBeats News, March 9, according to Coinglass data, even though bitcoin rebounded today and broke through $69,000, the current mainstream CEX and DEX funding rates indicate that the market remains broadly bearish. The specific funding rates for major cryptocurrencies are shown in the attached chart.
BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, usually applied to perpetual contracts. It is a funding exchange mechanism between long and short traders. The trading platform does not charge this fee; it is used to adjust the cost or profit of holding contracts for traders, so that the contract price remains close to the underlying asset price.
When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates that the market is generally bullish. When the funding rate is less than 0.005%, it indicates that the market is generally bearish.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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