Currently, the funding rates of mainstream CEXs and DEXs indicate that the market has turned bearish.

ChainThink news, October 11, according to Coinglass data, after the sharp drop early in the morning, the current funding rates on major CEXs and DEXs indicate that the market has clearly turned bearish. The specific funding rates are shown in the following chart.

ChainThink note: Funding rates are rates set by cryptocurrency trading platforms to maintain balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. It is a mechanism for fund exchange between long and short traders. The platform does not charge this fee, which is used to adjust the cost or profit of traders holding contracts, so that the contract price remains close to the underlying asset price.

When the funding rate is 0.01%, it represents the base rate. When the funding rate is higher than 0.01%, it indicates a general bullish market. When the funding rate is lower than 0.005%, it indicates a general bearish market.