The current mainstream CEX, DEX funding rate displays a strongly bearish market, with the Bitcoin funding rate on multiple exchanges turning negative

February 3rd — Per Coinglass data, Bitcoin fell below $75,000 yesterday and has rebounded above $78,000 today. Funding rate metrics show strong bearish sentiment in the market: Bitcoin’s funding rate has turned negative across multiple exchanges, meaning short traders are paying fees to long traders to maintain their positions. Ethereum’s negative funding rate is notably higher than Bitcoin’s, reflecting a more pessimistic market outlook for Ethereum. Note from BlockBeats: Funding rate is a fee set by crypto trading platforms to keep contract prices aligned with underlying asset prices, primarily for perpetual contracts. It’s an exchange between long and short traders—platforms do not collect this fee; instead, it adjusts the cost or profit of position holders to ensure contract prices track underlying asset values closely. Key rate thresholds: - 0.01% = baseline rate - Above 0.01% = generally bullish market - Below 0.005% = generally bearish market