Current funding rates on mainstream CEXs and DEXs indicate a neutral to slightly bearish market sentiment.

BlockBeats news, October 24 - According to HTX market data, Bitcoin is currently trading at $80,669.49, down 1.31% in 24 hours; Ethereum is currently trading at $2,367.01, down 1.52% in 24 hours.

According to CoinGlass data, BTC's open interest-weighted and volume-weighted funding rates are 0.0081% and 0.0074% respectively; ETH's two weighted rates are 0.0078% and 0.0082% respectively, both in the neutral range. Some trading platforms are in the bearish range, with ETH's volume-weighted rate slightly higher than BTC's, indicating relatively stable short-term contract sentiment.

BlockBeats note: Funding rate is a rate set by cryptocurrency trading platforms to maintain balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. It is a funding exchange mechanism between long and short traders; the trading platform does not collect this fee, but uses it to adjust the cost or profit of traders holding contracts, so as to keep contract prices close to 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 the market is generally bullish. When the funding rate is less than 0.005%, it indicates the market is generally bearish.