Current funding rates on mainstream CEXs and DEXs indicate the market has turned bearish again.

BlockBeats news, October 8th, according to Coinglass data, as Bitcoin continued its downward trend and fell below $81,000, and Ethereum lost the $2,500 mark, current funding rates on mainstream CEXs and DEXs indicate that the market has turned bearish again, with specific funding rates as shown in the attached image.

BlockBeats note: Funding rate is a rate set by cryptocurrency trading platforms to maintain a balance between contract prices and the underlying asset prices, typically applicable to perpetual contracts. It is a mechanism for exchanging funds between long and short traders. The trading platform does not charge this fee; it is used to adjust the cost or profit of traders holding contracts so that contract prices remain close to the underlying asset prices.

When the funding rate is 0.01%, it represents the benchmark rate. When the funding rate is greater than 0.01%, it indicates that the market is generally bullish. When the funding rate is less than 0.005%, it indicates that the market is generally bearish.