Binance posted a dividend notice for Samsung perpetuals today. The amount is so small it’s almost negligible, but many people may misread what it means.
Original notice: SAMSUNGUSDT will be adjusted for a dividend of 101 KRW per share, equivalent to -0.037336%. Settlement is scheduled for 14:00 Beijing time tomorrow morning (11/06) and will take about 30 minutes. The amount will be added to or deducted directly from your cross-margin futures account and recorded as “Special Funding Fee.” The amount in today’s notice was also revised once; the final amount is 101 KRW.
The key point is the eligibility date: only those holding a net position at 23:00 on 9/28 (UTC) qualify. If you opened your position after that, this has nothing to do with you. Positions won’t be restricted to closing-only before settlement, and the funding interval won’t change.
What you should really look at is the price: SAMSUNGUSDT has fallen from around 168.8 at the close on 11/03 to around 149.2 now, a nearly 12% pullback in two days. 24-hour trading volume is about 230 million U, and the funding rate has turned negative (-0.0277%). A 0.04% dividend adjustment can’t explain this kind of volatility; the negative funding rate indicates that short positions are more crowded right now.
So don’t mistake this notice for the reason behind the drop. It’s just a settlement of an amount that should have been accounted for over a month ago.
#三星 #TradFi永续 $SAMSUNG
Original notice: SAMSUNGUSDT will be adjusted for a dividend of 101 KRW per share, equivalent to -0.037336%. Settlement is scheduled for 14:00 Beijing time tomorrow morning (11/06) and will take about 30 minutes. The amount will be added to or deducted directly from your cross-margin futures account and recorded as “Special Funding Fee.” The amount in today’s notice was also revised once; the final amount is 101 KRW.
The key point is the eligibility date: only those holding a net position at 23:00 on 9/28 (UTC) qualify. If you opened your position after that, this has nothing to do with you. Positions won’t be restricted to closing-only before settlement, and the funding interval won’t change.
What you should really look at is the price: SAMSUNGUSDT has fallen from around 168.8 at the close on 11/03 to around 149.2 now, a nearly 12% pullback in two days. 24-hour trading volume is about 230 million U, and the funding rate has turned negative (-0.0277%). A 0.04% dividend adjustment can’t explain this kind of volatility; the negative funding rate indicates that short positions are more crowded right now.
So don’t mistake this notice for the reason behind the drop. It’s just a settlement of an amount that should have been accounted for over a month ago.
#三星 #TradFi永续 $SAMSUNG
