Current funding rates on major CEXs and DEXs indicate that the market remains broadly bearish.

According to Coinglass data, current funding rates on major CEXs and DEXs show that although the crypto market has rebounded in the past two days, participants remain overwhelmingly bearish, with funding rates for almost all asset trading pairs being negative. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain balance between contract prices and the underlying asset prices, typically applicable to perpetual contracts. It is a mechanism for exchanging funds between long and short traders; the trading platform does not charge this fee, but uses it to adjust the cost or profit of traders holding contracts to keep the contract price close to the underlying asset price. A funding rate of 0.01% represents the base rate. A funding rate greater than 0.01% indicates a generally bullish market. A funding rate less than 0.005% indicates a generally bearish market.