Current mainstream CEX and DEX funding rates indicate the market is once again broadly bearish

On February 20, according to Coinglass data, Bitcoin continues to fluctuate within a range, and the current mainstream CEX and DEX funding rates indicate that the market has once again turned fully bearish. Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of underlying assets, typically applied to perpetual contracts. It is a mechanism for capital exchange between long and short traders; the trading platform does not collect this fee. It is used to adjust the cost or profit of holding contracts for traders, ensuring that contract prices remain close to the underlying asset prices. When the funding rate is 0.01%, it represents the benchmark 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.