Current mainstream CEX and DEX funding rate displays market returning to full bearish sentiment

BlockBeats News, December 23rd, according to Coinglass data, BTC surged above $90,000 briefly last night but fell back to around $87,000. Afterward, mainstream CEX and DEX funding rates indicated a market-wide shift back to bearish. Currently, only the BTC and ETH contract trading pairs on Binance and Bitget are maintaining neutral funding rates, while OKX, Bybit, and other platforms have seen their rates fall back to bearish territory. Shitcoins like Ethereum continue to maintain significantly negative funding rates. The specific funding rates for mainstream coins are shown in the attached image.

BlockBeats Note: Funding rates are rates set by cryptocurrency trading platforms to maintain the balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders, with the trading platform not collecting this fee but using it to adjust the cost or profit of traders holding contracts 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 above 0.01%, it indicates a generally bullish market. When the funding rate is below 0.005%, it indicates a generally bearish market.