BlockBeats news, on March 9, according to Coinglass data, even though Bitcoin rebounded today above $69,000, current funding rates on major CEXs and DEXs indicate continued widespread bearish sentiment, as shown in the funding rates for major cryptocurrencies in the attached chart.
BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain alignment between contract prices and the prices of underlying assets, typically applicable to perpetual contracts. They serve as a mechanism for exchanging funds between long and short traders; the platform does not collect these fees, but rather uses them to adjust traders’ costs or returns on their positions, ensuring that contract prices remain close to those of the underlying assets.
A funding rate of 0.01% represents the baseline rate. When the funding rate exceeds 0.01%, it indicates that the market is generally bullish. When the funding rate is below 0.005%, it indicates that the market is generally bearish.