Starting at 12AM UTC (midnight) on April 24, 2022, the funding fee for CELOUSDT, RVNUSDT, KLAYUSDT, SCUSDT and XEMUSDT Perpetual Contracts* will be settled immediately based on the rate derived from the current funding interval.
The change aims to help our traders better navigate and capitalize on the price differences between the perpetual contract market and the spot market, given that these selected contracts may be subject to higher price fluctuations.
Before
Prior to this update, funding fees are calculated based on the funding rate derived from the previous funding interval. Let’s use the 8-hour funding interval as an example. In this case, the funding rate calculated between 12AM UTC (midnight) and 8AM UTC will be used to derive your funding fees at 4PM UTC. If the rate is positive at 8AM UTC, long position holders will pay short position holders at 4PM UTC based on the rate locked at 8AM UTC. Similarly, the funding rate calculated between 8AM UTC and 4PM UTC will be used to derive your funding fees at 12AM UTC (midnight).
After
Following this update, the funding rate calculated between 12AM UTC (midnight) and 8AM UTC will be used to derive your funding fees at 8AM UTC.
Please note that the rate may fluctuate before the end of the countdown cycle, and you shall manage your positions accordingly.
*Based on market movements, you may close your open positions for the aforementioned five contracts before each funding settlement to avoid potential payments Thank you for your continued support!