According to BlockBeats, on November 10th, data from Coinglass shows that current funding rates on major CEXs and DEXs indicate that after a nearly three-day rebound, market participants remain bearish on altcoins. However, funding rates for Bitcoin and Ethereum have returned to a neutral range. The specific funding rates are shown in the chart below.
BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain balance between contract prices and the underlying asset prices. They are typically applied to perpetual contracts. It is a mechanism for exchanging funds 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.
A funding rate of 0.01% represents the baseline rate. A funding rate greater than 0.01% indicates a generally bullish market. A funding rate less than 0.005% indicates a generally bearish market.