Current mainstream CEX and DEX funding rates indicate that the market has turned fully bearish

BlockBeats News, October 18, according to Coinglass data, the current funding rates on major CEX and DEX platforms show that after a further decline over the past two days, the market has turned fully bearish. The contract trading pairs of mainstream assets on major trading platforms are almost all at negative funding rates, as shown in the chart below.

BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of underlying assets, usually applied to perpetual contracts. It is a funding exchange mechanism between long and short traders. The trading platform does not charge this fee; it is used to adjust the cost or profit of holding contracts for traders, so that contract prices remain close to the prices of the underlying assets.

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