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Updates on Funding Rate Settlement Frequency and Capped Funding Rate Multiplier of PHBBUSD Perpetual Contract (2022-09-17)

2022-09-17 08:50
Fellow Binancians,
Binance Futures will increase the funding rate settlement frequency and capped funding rate multiplier of the PHBBUSD Perpetual Contract starting from 2022-09-17 at 12:00 (UTC). The detailed arrangement is as in the table below.
Time
Max Funding Rate
2022-09-17 12:00 (UTC)
+2.50% / -2.50%
2022-09-17 16:00 (UTC)
+2.50% / -2.50%
2022-09-17 20:00 (UTC)
+2.50% / -2.50%
2022-09-18 00:00 (UTC)
+2.50% / -2.50%
2022-09-18 04:00 (UTC)
+2.50% / -2.50%
2022-09-18 08:00 (UTC)
+2.50% / -2.50%
+2.50% / -2.50%
Notes:
  • If the Funding Rate does not reach the Capped Funding Rate for two consecutive timings, the Funding Interval will be doubled. If the Funding Rate reaches the Capped Funding Rate for two consecutive timings, the Funding Interval will be shortened by half. We will notify users of any further adjustments in a separate announcement.
  • As of 2022-09-16 at 05:00 (UTC), the Capped Funding Rate Multiplier is raised from 0.75 to 1.
  • Capped Funding Rate = clamp (Funding Rate, -1 * Maintenance Margin Ratio, 1 * Maintenance Margin Ratio). For more on funding rate, please refer to Introduction to Binance Futures Funding Rates.
Max Funding Rate Calculation Example:
  • To calculate the Funding Rate Floor and Cap of the PHBBUSD perpetual contract, 2.50% is used as the "Maintenance Margin Ratio" corresponding to the maximum leverage of 20x on the Leverage & Margin Table.
    • Cap = Capped Funding Rate Multiplier * Maintenance Margin Ratio = 1 * 2.50% = +2.50%
    • Floor = Capped Funding Rate Multiplier * Maintenance Margin Ratio = -1 * 2.50% = -2.50%
Existing positions opened before the updates will be affected. It is strongly advised to adjust the position and leverage in order to avoid any potential liquidation.
Further information:
Thanks for your support!
Binance Team
2022-09-17
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
Risk Warning: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Futures trading, in particular, is subject to high market risk and price volatility. All of your margin balance may be liquidated in the event of adverse price movement. Past performance is not a reliable predictor of future performance. Before trading, you should make an independent assessment of the appropriateness of the transaction in light of your own objectives and circumstances, including the risks and potential benefits. Consult your own advisers, where appropriate. This information should not be construed as financial or investment advice. To learn more about how to protect yourself, visit our Responsible Trading page. For more information, see our Terms of Use and Risk Warning.