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

On October 17, according to Coinglass data, the current funding rates of major CEX and DEX platforms show that after further falls last night, the current market bearish trend has intensified, with the number of negative rate trading pairs continuing to increase compared to yesterday. The specific funding rates are shown in the figure below. BlockBeats Note: Funding rates are the rates set by crypto asset trading platforms to maintain the balance between contract prices and the prices of underlying assets, 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, so that the contract price remains close to the price of the underlying assets. 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.