The current funding rates of mainstream CEX and DEX indicate that the market is further leaning towards a bearish sentiment.

On October 16, according to Coinglass data, the current funding rates of mainstream CEX and DEX show that after several days of low-level fluctuations, the current market bearish trend has intensified, with an increase in negative funding rate trading pairs. The specific funding rates are shown in the figure below. BlockBeats note: funding rates are rates set by cryptocurrency trading platforms to maintain the balance between the contract price and the underlying asset price, usually applicable to Perptual Futures. It is a funding exchange mechanism between long and short traders, and the trading platform does not charge this fee, which is used to adjust the cost or profit of traders holding contracts, in order to keep the contract price close to the underlying asset price. When the funding rate is 0.01%, it indicates the Benchmark rate. When the funding rate is greater than 0.01%, it represents a generally bullish market. When the funding rate is less than 0.005%, it indicates a generally bearish market.