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The current mainstream CEX and DEX funding rate display shows that the market is no longer bearish on ETH and BTC, but still bearish on altcoins
BlockBeats News, January 1st, according to Coinglass data, currently, mainstream CEX and DEX funding rates show that the market remains broadly bearish on altcoins, but ETH rates have all returned to neutral. Only OKX, Bybit, and LBank platforms have recorded slightly bearish rates for BTC pairs, while other platforms have returned to neutral. The specific funding rates for mainstream coins are shown in the attached image.
BlockBeats Note: Funding rates are rates set by cryptocurrency exchanges to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders, and the trading platform does not charge this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price.
When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.
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