Current mainstream CEX and DEX Funding Rate data shows a significant weakening of the bearish sentiment in the market

BlockBeats News, May 11th, according to Coinglass data, as Bitcoin surged above $82,000, the current mainstream CEX and DEX funding rates show a significant weakening of the bearish market sentiment, as shown in the attached image.

BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain 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, and the exchange does not charge this fee. It is used 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 sentiment. When the funding rate is below 0.005%, it indicates a generally bearish market sentiment.