Current mainstream CEX and DEX funding rates display the market slightly returning to neutrality after further decline

BlockBeats News, October 21st, according to Coinglass data, the current mainstream CEX and DEX funding rates show that although the market has entered a new round of decline since early this morning, multiple asset trading pairs' funding rates have further returned to neutral, overall still leaning bearish, as shown in the specific funding rates in the following image.

BlockBeats Note: Funding Rate is a fee set by cryptocurrency exchanges to maintain the 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 baseline 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.