Current Mainstream CEX, DEX Funding Rate Indicates Market-wide Bearish Sentiment

BlockBeats News, October 29th, according to Coinglass data, the current mainstream CEX and DEX funding rates show that after experiencing a dip in the early hours of today, market participants have intensified their bearish sentiment towards altcoins. The Bitcoin funding rate has also fallen from neutral to bearish territory, as shown in the specific funding rates in the chart below.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency trading platforms to maintain the balance between the contract price and the underlying asset price, usually applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders, and the trading platform does not collect 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 baseline rate. When the funding rate is greater than 0.01%, it indicates a generally bullish market sentiment. When the funding rate is less than 0.005%, it indicates a generally bearish market sentiment.