The current mainstream CEX, DEX funding rate shows that the market has fully turned bearish

According to Coinglass data, the current mainstream CEX and DEX funding rates indicate that the crypto market is generally bearish. The specific mainstream currency funding rates are shown in the attached figure.

Note: Funding rates are fees set by cryptocurrency trading platforms to maintain a balance between contract prices and underlying asset prices, usually applicable to perpetual contracts. It is a fund exchange mechanism between long and short traders. The trading platform does not charge this fee, which is used to adjust the cost or profit of traders holding contracts so as to keep the contract price close to the price of the underlying asset.

When the funding rate is 0.01%, it represents a benchmark rate. When the funding rate is higher than 0.01%, it means that market sentiment is generally bullish. When the funding rate is less than 0.005%, it indicates that market sentiment is generally bearish.