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

BlockBeats News, January 30, according to Coinglass data, the crypto market has fallen in sync with major global assets, with liquidations across the entire network reaching $1.687 billions in the past 24 hours. However, the funding rates on major CEX and DEX platforms currently indicate that the market remains broadly bearish. Among them, the bearish sentiment for some coins such as BTC, ETH, SUI, and BCH is slightly weaker (with positive funding rates), while other altcoins generally show stronger bearish sentiment. Specific funding rates are shown in the attached chart.

BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of underlying assets, usually applied to perpetual contracts. It is a mechanism for fund exchanges 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, so that contract prices remain close to the prices of the underlying assets.

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