The market price of a perpetual contract is anchored to the spot price by a funding rate.The funding fee is charged every 8 hours at 00:00 (GMT+8), 08:00 (GMT+8) and 16:00 (GMT+8) after the daily contract settlement. Only if the position is held at the time, the user is required to pay or receive the funds fee. If the position is closed before the funding fee is charged, then no funding fee is required.
SuperEx's funding rate rules use the final funding rate of the previous cycle. For example, at the moment 16:00, the funding rate is calculated for the period 0:00-8:00, which is more favorable for users to make a good predictions in advance and make right decisions. The calculation of the funding rate mainly considers the interest rate difference between the pricing token and the settlement token, as well as based on the difference between the inter-day transaction price and the external spot price.
The specific calculation formula is as follows;
Funding rate = premium index + clamp (0.01% - premium index, 0.05%, -0.05%) (where 0.01% is the interest rate difference)
Premium index = (Max (0, depth-weighted bid price - marker price) - Max (0, marker price - depth-weighted ask price))/index price (clamp is the interval limit function)
The final funding rate is calculated every minute as clamp (8-hour average, fmax, -fmax).
Where fmax is (starting margin - maintenance margin) * 75%
The platform does not charge any funding fee; the funding fee is charged among users. If the position margin balance is insufficient, it will be deducted up to the user’s margin rate equivalent to the maintenance margin rate, and the excess will be deducted from the available margin of the user’s account.