#数字货币市场回调 Recently noticed an interesting signal - the funding rate of perpetual futures on mainstream trading platforms has started to decline.

According to the current data from CEX and DEX, the rates of multiple mainstream cryptocurrencies are declining, which usually indicates that market sentiment is turning cautious. In simple terms, it means that the bearish forces are strengthening.

A brief explanation of this mechanism: the funding rate is essentially the fee paid by both longs and shorts in a perpetual futures contract, with the platform taking no cut. Its function is to prevent the contract price from deviating too far from the spot price.

Generally speaking, 0.01% is considered a neutral level. If the funding rate exceeds this number, it indicates a bullish market; however, if it falls below 0.005%, it is a clear bearish signal — those holding long positions have to pay the short positions.

This is the current situation. You can check the real-time data for the funding rates of each cryptocurrency yourself, but the overall trend is already quite clear. In the short term, it may be necessary to be alert to the risk of a pullback.