The current funding rates of major CEX and DEX indicate that the market has turned bearish.

On August 20, according to Coinglass data, the current funding rates of mainstream CEX and DEX show that the market has turned bearish. BlockBeats notes: funding rates are the rates set by crypto asset trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to Perptual Futures. It is a mechanism for the exchange of funds between long and short traders, and the trading platform does not charge this fee. Instead, 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 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 indicates a generally bearish market.