Current mainstream CEX and DEX funding rates indicate the market remains broadly bearish

BlockBeats News, November 23, according to Coinglass data, the current funding rates on major CEX and DEX platforms show that although the crypto market has experienced a rebound in the past two days, participants still maintain an overall bearish stance, with funding rates for almost all asset trading pairs remaining negative.

BlockBeats note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of underlying assets, typically applied to perpetual contracts. It is a mechanism for capital exchange 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, keeping contract prices close to the underlying asset prices.

When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market sentiment. When the funding rate is less than 0.005%, it indicates a generally bearish market sentiment.