Current mainstream CEX and DEX funding rates indicate a comprehensive bearish sentiment towards altcoins in the market.

On October 31, according to data from Coinglass, the current funding rates on major CEX and DEX platforms show that after the recent downturn in the crypto market, bearish sentiment towards altcoins among market participants has intensified, while the bitcoin funding rate has returned to a neutral range. The specific funding rates are 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, typically applied to perpetual contracts. It is a capital 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, so that contract prices remain close to the underlying asset prices. When the funding rate is 0.01%, it indicates the benchmark rate. When the funding rate is greater than 0.01%, it means the market is generally bullish. When the funding rate is less than 0.005%, it means the market is generally bearish.