ChainCatcher reports that, according to Coinglass data, as Bitcoin slightly pulls back and maintains a range-bound movement, the funding rates on major CEX and DEX platforms indicate that the market is once again turning fully bearish.
Specific funding rates for major cryptocurrencies are shown in the attached chart. Funding rates are fees set by cryptocurrency trading platforms to keep the contract prices aligned with the underlying asset prices, typically applicable to perpetual contracts. They serve as a mechanism for transferring funds between long and short traders; the platform does not charge this fee. The funding rate adjusts the cost or profit for traders holding contracts to keep the contract price close to the underlying asset price. A funding rate of 0.01% indicates the baseline rate. When the funding rate exceeds 0.01%, it suggests a generally bullish market. When it is below 0.005%, it indicates a generally bearish market.
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