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

BlockBeats News, November 29, according to Coinglass data, the crypto market has recently experienced a comprehensive rebound, with bitcoin briefly surging above $93,000 last night. However, funding rates on major CEX and DEX platforms currently indicate that the market remains broadly bearish. The specific funding rates for major cryptocurrencies 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, typically applied to perpetual contracts. It is a mechanism for capital exchange 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 for traders, so that contract prices remain close to underlying asset prices.

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.