Current Mainstream CEX and DEX Funding Rates Indicate Overall Bearish Market

On April 22, according to Coinglass data, as Bitcoin slightly rises and maintains volatility, the current funding rates of mainstream CEX and DEX indicate that the market remains broadly bearish, as shown in the attached chart. Note from BlockBeats: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of underlying assets, typically applicable to perpetual contracts. It serves as a funding exchange mechanism between long and short traders; the trading platform does not charge this fee. Instead, it adjusts the cost or profit of the contracts held by traders to keep the contract prices close to the prices of the underlying assets. When the funding rate is 0.01%, it represents the benchmark rate. A funding rate greater than 0.01% indicates a generally bullish market, while a funding rate less than 0.005% indicates a generally bearish market.