1. What is the perpetual contract funding fee?
The perpetual contract funding fee is a transaction fee designed to keep the contract mark price aligned with the spot index price of the underlying asset. Unlike traditional futures, perpetual contracts have no expiration date, allowing traders to hold positions indefinitely. The funding fee helps prevent significant deviations between the contract price and the spot index price, ensuring market stability.
2. Why do perpetual contracts require a funding fee?
The need for a funding fee arises from supply and demand imbalances in the market. When most traders hold positions in the same direction (either long or short), the market may experience abnormal fluctuations, causing prices to deviate from the spot index price. To maintain a healthy market, the funding fee incentivizes traders to take actions that realign the contract price with the underlying asset price. This mechanism helps reduce excessive market volatility, lowers the risk of market manipulation, and provides traders with an opportunity to earn funding fee income.
3. How is the perpetual contract funding fee calculated?
The funding fee for SuperEx perpetual contracts is calculated using the following formula:
Funding Fee = Position Value × Current Funding Rate
If the funding rate is positive, long positions pay short positions.
If the funding rate is negative, short positions pay long positions.
For more details on funding rate calculation and the order of collection, please refer to the "Perpetual Contract Funding Fee Rules" in the SuperEx Help Center.
4. How is the perpetual contract funding fee charged?
The funding fee is charged every 8 hours at 00:00 (GMT+8), 08:00 (GMT+8), and 16:00 (GMT+8) after each contract settlement.
Only traders holding positions at these times need to pay or receive the funding fee. If a position is closed before the funding fee is collected, no funding fee will be charged.
SuperEx's funding rate is determined based on the funding rate of the current cycle. For example, the funding rate at 16:00 is based on the rate calculated for the 08:00–16:00 cycle, allowing traders to make informed decisions in advance.
The funding rate calculation primarily considers the interest rate difference between the quote currency and the settlement currency, as well as the spread between the contract price and the external spot price.
5. How can I check the funding rate for perpetual contracts?
On the perpetual contract trading page, you can view the "Current Funding Rate" and "Predicted Funding Rate" under the "Funding Rate/Countdown" section.
Click "Learn More" to view the funding rate history and funding rate comparison.
Note: During high market volatility or significant long/short position imbalances, the funding rate may increase significantly. Please monitor it closely.
6. How can I check the funding fee income or expenses?
You can check the historical funding fee transactions under "Wallet/Assets" → "Futures Account" → "Transaction History" → "Funding Flow".
Web
APP
7. How can I check historical funding rates?
On the web version or app, click the three dots (•••) in the upper right corner of the trading page and select "Contract Information".