On November 10th, according to Coinglass data, the current funding rates of mainstream CEX and DEX show that after experiencing a nearly 3-day rebound in the crypto market, market participants still maintain a bearish sentiment towards altcoins. However, at present, the funding rates for Bitcoin and Ethereum have returned to a neutral range. The specific funding rates are presented in the following chart. BlockBeats Note: The funding rate is a fee set by cryptocurrency exchanges to maintain the balance between the contract price and the underlying asset price. It is usually applicable to perpetual contracts and is a fund exchange mechanism 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 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.
