BlockBeats news, on May 17, according to Coinglass data, the current funding rates of mainstream CEXs and DEXs show that the market continues to diverge, with bearish and neutral sentiments coexisting. Specific funding rates for mainstream cryptocurrencies are shown in the attached image.
BlockBeats Note: The funding rates are the rates set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of the underlying assets, usually applicable to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders, and the trading platform does not charge this fee. It is used to adjust the cost or profit of the contracts held by traders, so that the contract price remains 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.