BlockBeats news, on May 17, according to Coinglass data, the funding rates of mainstream CEX and DEX indicate that the market has shifted towards bearish trading. The specific funding rates of mainstream cryptocurrencies are shown in the attached image.
BlockBeats note: Funding rates are fees set by cryptocurrency trading platforms to maintain a balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders; the trading platform does not charge this fee, but uses it to adjust the cost or return for traders holding contracts, in order 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 that the market is generally bullish. When the funding rate is less than 0.005%, it indicates that the market is generally bearish.