Gate News reports that on March 13, according to Coinglass data, the cryptocurrency market experienced a rebound this morning. Bitcoin rose back to $72,000, and Ethereum recovered to $2,148. The current mainstream CEX and DEX funding rates show that the bearish sentiment has eased, with most coin pairs’ funding rates returning to neutral (previously all negative rates).
Funding rates are fees set by cryptocurrency trading platforms to keep contract prices aligned with the underlying asset prices, typically applicable to perpetual contracts. They are a mechanism for transferring funds between long and short traders, with the platform not charging this fee. The purpose is to adjust the cost or profit for traders holding contracts, ensuring the contract price stays close to the underlying asset price. A funding rate of 0.01% indicates the baseline rate; above 0.01% suggests a generally bullish market; below 0.005% indicates a generally bearish market.
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