On November 24th, as per Coinglass data, the current mainstream CEX and DEX funding rates suggest that although the cryptocurrency market has witnessed a rebound in the past two days, participants still maintain an overall bearish sentiment. The funding rates for the majority of asset trading pairs are negative. However, compared to altcoins, the bearish sentiment is relatively weaker for Bitcoin and Ethereum. BlockBeats Note: The Funding Rate is a fee established by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price. It is typically applicable to perpetual contracts and serves as a fund exchange mechanism between long and short traders. The trading platform does not charge this fee. It is used to adjust the cost or profit of 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 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.
