BlockBeats News, January 2, according to Coinglass data, today some altcoins have shown an upward trend. Currently, the funding rates on major CEX and DEX platforms indicate a recovery in the altcoin market. Some platforms' altcoin trading pairs have returned to neutral rates, but as Bitcoin approaches the $90,000 resistance again, the market is starting to turn bearish. It has not yet entered the negative funding rate zone. This is in contrast to the previous situation when the market was sluggish (BTC, ETH neutral rates, altcoins all at negative rates). Specific funding rates for major coins are shown in the attached image.

BlockBeats Note: Funding rates are the rates set by cryptocurrency trading platforms to maintain balance between contract prices and the prices of underlying assets, typically applicable to perpetual contracts. It is a mechanism for the exchange of funds between long and short traders, and the trading platform does not charge this fee, which is used to adjust the cost or profit of the contracts held by traders, so that the contract price remains close to the price of the underlying asset.

When the funding rate is 0.01%, it indicates the benchmark rate. When the funding rate is greater than 0.01%, it represents a generally bullish market. When the funding rate is less than 0.005%, it represents a generally bearish market.