BlockBeats News, December 23, according to Coinglass data, after BTC briefly broke above $90,000 last night but ultimately fell back to around $87,000, funding rates on mainstream CEXs and DEXs indicate the market has shifted back to a bearish bias. Currently, only BTC and ETH perpetual contract pairs on Binance and Bitget maintain neutral rates, while rates on platforms like OKX and Bybit have dropped into bearish territory. Altcoins such as Ethereum continue to exhibit large negative funding rates, with specific major coin funding rates as shown in the attached chart.
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 fund exchange between long and short traders; trading platforms do not charge this fee, using it to adjust the cost or profit of traders holding contracts to keep contract prices close to the underlying asset prices.
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. When the funding rate is less than 0.005%, it indicates a generally bearish market.
