BlockBeats News, May 16th, according to Coinglass data, as Bitcoin weakened and briefly fell below $78,000, the current mainstream CEX and DEX funding rates show a deepening bearish sentiment in the market, with specific funding rates as shown in the attached image.

BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges 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, and the trading platform 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 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.