Current funding rates on major CEX and DEX platforms indicate the market remains predominantly bearish

BlockBeats news, April 30, according to Coinglass data, Bitcoin has fallen below $76,000. The current funding rates on mainstream CEX and DEX platforms indicate that the market remains bearish, as shown in the attached image.

BlockBeats note: Funding rate is the fee set by cryptocurrency trading platforms to maintain balance between the contract price and the underlying asset price, usually applied to perpetual contracts. It is a mechanism for capital exchange between long and short traders. The trading platform does not collect this fee; it is used to adjust the cost or profit of holding the contract, so that the contract price stays close to the underlying asset price.

When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is higher than 0.01%, it means the market is generally bullish. When the funding rate is lower than 0.005%, it indicates the market is generally bearish.