BlockBeats message, April 8, according to Coinglass data, as Bitcoin today once climbed above $72k, the current funding rates across major CEX and DEX platforms show that the market’s bearish sentiment has significantly weakened; the specific funding rates are shown in the attached image.
BlockBeats Note: Funding rate is a fee that crypto trading platforms set to maintain a balance between the contract price and the price of the underlying asset, and it is typically applied to perpetual contracts. It is a mechanism for the exchange of 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 underlying asset’s price.
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 generally bullish. When the funding rate is less than 0.005%, it means the market is generally bearish.
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