Gate News message. April 9. According to Coinglass data, April 10. As Bitcoin again climbed above $72k, the current mainstream CEX and DEX funding rates showed that the market’s bearish sentiment has deepened.
Funding rate is the fee that crypto trading platforms set in order to maintain balance between the contract price and the price of the underlying asset, and it is typically used for perpetual futures contracts. It is a funding exchange mechanism 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 price.
When the funding rate is 0.01%, it indicates the benchmark funding rate; when the funding rate is greater than 0.01%, it generally means the market is bullish; when the funding rate is less than 0.005%, it generally means the market is bearish.
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