BlockBeats News, on February 7, according to Coinglass data, despite Bitcoin rebounding nearly 20% from its daily low and briefly reaching $71,751, the current mainstream CEX and DEX funding rates indicate the market remains bearish. Specific funding rates are shown in the attached image.
BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price, typically applied to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders, and the exchange does not charge this fee. It is used to adjust the cost or profit of traders holding contracts, so that the contract price remains close to the underlying asset price.
When the funding rate is 0.01%, it indicates the benchmark rate. When the funding rate is higher than 0.01%, it represents a generally bullish market. When the funding rate is lower than 0.005%, it represents a generally bearish market.