The current mainstream CEX and DEX funding rates show that the market has once again turned bearish

On October 8, bitcoin prices continued to fall and exceeded the US$81,000 mark, and Ethereum simultaneously lost its US$2500 support level. Coinglass data shows that the capital rate curves of major cryptocurrency exchanges CEX and DEX indicate that market sentiment has turned to short dominance. See the attached figure for specific rate values.<br /> <br /> Note: As an important adjustment mechanism in the cryptocurrency perpetual contract market, the capital rate is set by the trading platform to maintain the dynamic balance between the contract price and the underlying asset price. This rate is essentially a two-way transfer of funds between long and short traders. The platform does not directly charge this fee, but realizes the price convergence function by adjusting contract holding costs or benefits. The benchmark funding rate is 0.01%. When this value is higher than 0.01%, it reflects the increased expectations of market bulls, and below 0.005%, it indicates that the short forces are dominant.