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Bitget Coin-Ⓜ Futures: Funding Fee

Dear Bitget users:

 

The following text is about Bitget Coin-Ⓜ Futures Funding Fee.

 

I. Introduction of Funding Fee

Funding fee is the core operating mechanism of Bitget Coin-Ⓜ Futures.

The setting of the funding fee aims to ensure that the transaction price of the Coin-Ⓜ Futures closely follows the underlying reference price through the regular exchange of funding rate between the long and short parties.

 

II. Description of Funding Fee

1. Bitget does not charge any funding fee, which are collected between users.

2. Funding fee are generated every 8 hours, which are 07:00, 15:00, 23:00 (UTC+08:00), you only need to pay or charge funds if you hold a position at the time of these three capital timestamps. For better user experience, we will calculate the fees without suspending your transactions. Therefore, during the funding fee collection period, there may be delays in calculation. For example, you may still be charged or paid if you open or close your positions at 07:00:05.

3. When the funding fee is collected, it will be deducted from the fixed margin of the user's position, at most until the user's margin rate is equal to the maintenance margin rate and a certain percentage of the remaining amount, and the excess will not be charged. The actual funding rate that users can charge also depend on the total amount deducted by the system from the counterparty's account.

If the user's leverage is relatively high, the system will not charge funding fee at some settlement points.

 

III. Calculation of Funding Fee

1. The calculation formula for the funding rate you received or paid is as follows:

Funding Fee = Funding rate * position value

The value of your position has nothing to do with leverage, and is not based on how much margin you have allocated for the position:

2. Among them, the calculation formula of the funding rate is as follows:

Funding rate = {average premium index (P)+Clamp[interest rate (I)−average premium index (P), a, b)

Among them, the interest rate index I=0.01%, the average premium index P is the simple average of the premium index, and the premium index reflects the premium relationship between the contract price and the spot index price. The specific formula is as follows:

Premium index = [Max(0, Impact bid price-price index)-Max(0, benchmark price-Impact ask price)] / benchmark price

The calculation frequency of the premium index is once every minute.

1) Impact bid and ask prices

Impact bid price = the average price when the buying queue reaches the "Impact Guaranteed Amount"’

Impact ask price = the average price when the selling queue reaches the "Impact Guaranteed Amount"

2) Impact guarantee amount

The impact guarantee amount refers to the amount that can be traded with a margin of 200USDT.

The specific formula is as follows:

Impact guarantee amount = 200 USDT / minimum maintenance margin rate

Example: The minimum maintenance margin rate of BTCUSDT is 0.5%

Then the impact margin amount of the BTCUSDT contract=200USDT/0.5%=40000USDT

 

 

Bitget Team

 

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