BlockBeats news, on May 3, according to Coinglass data, the current funding rates for mainstream CEX and DEX indicate that the market has turned generally bearish. Specific funding rates for mainstream cryptocurrencies are shown in the attached image.
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 applicable to perpetual contracts. It is a funding exchange mechanism between long and short traders, and the trading platform does not collect this fee. It is used to adjust the cost or profit of traders holding contracts to keep the contract price close to the price of the underlying asset.
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.