According to BlockBeats, Coinglass data from October 21st shows that funding rates on major CEXs and DEXs indicate that, despite a new market decline beginning early this morning, funding rates for several asset pairs have returned to neutral, maintaining an overall bearish bias. The specific funding rates are shown in the chart below.
BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain a balance between contract prices and the price of the underlying asset. They typically apply to perpetual swaps. They serve as a mechanism for exchanging funds between long and short traders. Trading platforms do not charge this fee, but rather adjust the cost or reward of holding contracts to keep the contract price close to the price of the underlying asset.
A funding rate of 0.01% represents the base rate. A funding rate greater than 0.01% indicates a generally bullish market outlook. A funding rate less than 0.005% indicates a generally bearish market outlook.