BlockBeats News, January 17th, according to Coinglass data, after nearly 2 days of retracement in the crypto market, the current mainstream CEX and DEX funding rates show a slight bias towards bearishness. The bearish sentiment towards altcoins is even stronger, as shown in the specific mainstream coin funding rates in the attached image.
BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to maintain balance between the contract price and the underlying asset price, usually 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 baseline 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.
