On October 19, according to Coinglass data, the current funding rates of mainstream CEX and DEX indicate that the market will remain sideways this weekend and is still bearish. Contract trading pairs of mainstream assets on major trading platforms almost all have negative rates. The specific funding rates are shown in the figure below.
BlockBeats Note: Funding rates are fees set by cryptocurrency exchanges to maintain a balance between the contract price and the price of the underlying asset. They typically apply to perpetual contracts. Funding rates are a mechanism for exchanging funds between long and short traders. Exchanges do not charge this fee, but rather adjust the cost or benefit of holding contracts to keep the contract price close to the underlying asset price.
When the funding rate is 0.01%, it represents the base 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.
