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:
- Liquidation
- Leverage and Margin of USDâ-M Futures Contracts
- Introduction to Binance Futures Funding Rates
Thanks for your support!
Binance Team
2022-09-17
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