The current mainstream CEX and DEX funding rate displays a widespread bearish sentiment in the market, with funding rates on various platforms generally being negative.

As of March 22, Coinglass data shows Bitcoin is trading at $69,275.33, down 1.93% over the past 24 hours; Ethereum is at $2,103.95, a 2.18% drop in the same period. Funding rates across major centralized (CEX) and decentralized (DEX) exchanges signal broad bearish sentiment, with short positions clearly dominating. Specifically, BTC and ETH funding rates on platforms including Binance have turned negative—shorts are continuously paying fees to longs to maintain their positions (see the attached image for detailed funding rates of major cryptos). **BlockBeats Note**: Funding rates are set by crypto exchanges to keep contract prices aligned with underlying asset prices, typically for perpetual contracts. It’s a capital exchange mechanism between long and short traders; the platform does not collect this fee. It adjusts the cost or profit of traders holding contracts to ensure contract prices track underlying asset prices. A 0.01% funding rate is the baseline. Rates above 0.01% indicate a generally bullish market, while rates below 0.005% signal a bearish market.