Current mainstream CEX and DEX funding rates indicate the market remains broadly bearish

BlockBeats news, on November 12, according to Coinglass data, the current funding rates on major CEX and DEX platforms show that after the market correction from yesterday to today, participants still maintain an overall bearish sentiment. The specific funding rates are shown in the chart below.

BlockBeats note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and the prices of underlying assets, typically applied to perpetual contracts. It is a mechanism for capital exchange between long and short traders. The trading platform does not charge this fee; it is used to adjust the cost or profit of holding contracts, so that the contract price remains close to the price of the underlying asset.

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.