BlockBeats News, March 31st, according to Coinglass data, the cryptocurrency market rebounded, with Bitcoin currently at $68,171.00, a 24-hour gain of 2.34%; Ethereum is currently at $2,079.76, a 24-hour gain of 3.53%. The current mainstream CEX, DEX funding rates show that the ETH bearish sentiment has eased compared to before, while BTC is relatively lagging behind, with multiple platforms still showing negative BTC funding rates, indicating a clear divergence between the two.
Specifically, the ETH funding rate on multiple platforms has returned to the +0.0100% benchmark level, with the overall bearish signal narrowing significantly compared to earlier. On the BTC side, the rates on several platforms like Binance are still in negative territory, with shorts continuing to pay fees to longs to maintain their positions; although some platforms have turned positive, they are all below the 0.005% threshold, not yet back to neutral. The specific mainstream cryptocurrency funding rates are as 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 funding exchange mechanism between long and short traders, which the trading platform does not charge but 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 sentiment. When the funding rate is less than 0.005%, it indicates a generally bearish market sentiment.
