BlockBeats message, March 30, according to Coinglass data, as Bitcoin fell to $65,000 this morning, the current funding rates across major CEXs and DEXs show that the market has returned to a broad bearish stance; the specific funding rates are shown in the chart attached.
BlockBeats Note: Funding rate is a fee set by cryptocurrency trading platforms to maintain a balance between the contract price and the price of the underlying asset, and it is typically used for perpetual contracts. It is a mechanism for exchanging funds between long and short traders. The trading platform does not collect this fee; instead, it is used to adjust the cost or profit for traders holding contracts, so that the contract price stays close to the price of the underlying asset.
When the funding rate is 0.01%, it indicates the benchmark funding rate. When the funding rate is greater than 0.01%, it means the market is broadly bullish. When the funding rate is less than 0.005%, it means the market is broadly bearish.
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