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Mainstream CEX and DEX Funding Rates Indicate Market Attempting to Short Again
Summary: According to Coinglass data, after a recent pullback in the crypto market, it has returned to a neutral state, but with Bitcoin rising back to a key position of $97,000, mainstream CEX and DEX funding rates now show the market attempting to short again. Funding rates for BTC on mainstream platforms have turned bearish, while ...
According to Coinglass data, after a recent pullback in the crypto market, it has returned to a neutral state, but with Bitcoin rising back to a key position of $97,000, mainstream CEX and DEX funding rates now show the market attempting to short again. Funding rates for BTC on mainstream platforms have turned bearish, while altcoins are once again showing negative rates. Specific funding rates for mainstream coins are shown in the attached image.
Note: Funding rates are set by cryptocurrency trading platforms to maintain balance between contract prices and underlying asset prices, typically for perpetual contracts. It is a mechanism for fund exchange between long and short traders, with the platform not charging this fee, used to adjust the cost or profit of holding contracts to keep contract prices close to underlying asset prices.
When the funding rate is 0.01%, it represents the baseline rate. When the funding rate is above 0.01%, it indicates a bullish market sentiment. When the funding rate is below 0.005%, it indicates a bearish market sentiment.
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Link: Mainstream CEX and DEX Funding Rates Indicate Market Attempting to Short Again [Copy]
