Dear User:
Binance Futures will adjust the funding rate settlement frequency of YGGUSDT U-margin perpetual contracts at 21:30 (ET) on August 7, 2023. The funding rate settlement frequency will be adjusted from once every eight hours to once every two hours. The specific arrangements are as follows:
Notice:
The funding rate cap multiplier for YGGUSDT U-margin perpetual contracts has been increased from 0.75 to 1;
Starting from 21:30 (GMT+8) on August 7, 2023, the YGGUSDT U-margin perpetual contract funding rate settlement frequency will be adjusted from once every eight hours to once every two hours;
The maintenance margin will affect the upper limit of the funding rate. The upper limit of the funding rate = clamp (funding rate, -1*maintenance margin rate, 1*maintenance margin rate). For detailed calculation rules, please refer to the Binance Futures Funding Rate Introduction;
In order to protect the rights and interests of users and reduce risks in extreme market conditions, Binance Futures may take additional protective measures for YGGUSDT U-margin perpetual contracts without further announcement. Potential protective measures include but are not limited to adjusting leverage and margin (including the maximum leverage multiple of each level, position limit, and maintenance margin rate), adjusting funding rates (including base rate, premium index, and fee cap), changing price index components, or using the "Latest Transaction Price Protection Mechanism" to update the price;
In the event of any discrepancy between the translated version and the original English version, the English version shall prevail.
illustrate:
Forced liquidation
Leverage and Margin for U-margin Contracts
Introduction to Binance Futures Funding Rates
Thank you for your support!
Binance Team
August 07, 2023
