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Funding Rate Explanation of USDT Margin Perpetual Swap on BEEX.one
The primary mechanism to tether Perpetual contract price to spot price is Funding. Funding occurs every 8 hours at 04:00, 12:00, and 20:00 (SGP Time). You will only pay or receive funding if you hold a position at one of these times. If you close your position prior to the funding exchange, then you will not pay or receive funding.
Funding = position value * funding rate
When the funding rate is positive, longs pay short. Vice versa if it is negative.
Est. Funding Rate = Clamp (MA (((Best Bid + Best Offer) / 2 — Spot Index Price) / Spot Index Price-Interest), a, b)
*Interest Rate currently = 0
*For Perpetual Contracts: a and b are the boundary values (currently it is +/- 0.003). MA is short for Moving Average.
The funding rate is updated every minute. The Est. Funding Rate at 4:00, 12:00 and 20:00 (SGP Time, UTC+8) will be used for funding exchange.
2. Actual Funding Fee
When the funding occurs, we prioritize the fee be charged from the balance. If the balance is insufficient, the remaining amount will be deducted from the user’s position margin. Funding fee will continue to be charged until the user’s maintenance margin rate is equal to the minimum, then the rest will be ignored.
The amount of funding fee user may receive also depends on money collected from the opposite side.
The platform does not charge any fees on funding; it is exchanged directly between traders.
For example:
Suppose a trader opened 100 contracts long at 8:11 AM (Singapore time) at $10000.
If:
BEEX team
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