BlockBeats News, October 17th, according to Coinglass data, the current mainstream CEX and DEX funding rates show that after further decline last night, the current market’s bearish trend has intensified, and the number of negative funding rate trading pairs has continued to increase compared to yesterday. The specific funding rates are shown in the following chart.
BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to maintain balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a fund exchange mechanism between long and short traders, and the trading platform does not charge this fee. 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 represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.
