Current mainstream CEX and DEX funding rates indicate the market is slightly returning to neutral after further declines.

BlockBeats News, October 21, according to Coinglass data, the current funding rates on major CEX and DEX platforms show that although the market has started a new round of decline since early this morning, funding rates for multiple asset trading pairs have further returned to neutral. Overall, the sentiment still leans bearish. The specific funding rates are shown in the figure below.

BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the underlying asset prices, usually applied to perpetual contracts. It is a mechanism for capital exchange 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 underlying asset prices.

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.