Dear CoinEx users,
CoinEx will adjust the funding fee settlement rules for LPTUSDT contract at 11:30 on Aug 14, 2023(UTC). We will adjust the funding rate calculation rules for LPTUSDT contract, and the funding fee settlement frequency will be adjusted from every 8 hours to every 4 hours. The details are as follows.
Funding Rate Rules Adjustment
1. Current rules
Funding Rate = Clamp(MA((((Depth Weighted Bid Price + Depth Weighted Sell Price) / 2 - Spot Index Price) / Spot Index Price - Interest), a, b)
(1) The current interest is 0
(2) For BTCUSD, ETHUSD, BTCUSDT, ETHUSDT Linear contracts: a = -0.375%, b = 0.375%
(3) For LPTUSDT Linear contract: a = -5%, b = 5%
(4) For all other Linear contracts: a = -0.75%, b = 0.75%
(5) Depth-weighted purchase price = the average price of the "Margin Impact Amount" traded on the bidding side.
(6) Depth-weighted selling price = the average price of the "Margin Impact Amount" traded on the bidding side.
(7) Margin impact refers to the total value of a certain number of orders in the market.
2. After adjustment
(1) For LPTUSDT Linear contract: a = -2.5%, b = 2.5%
(2) Other rules remain unchanged.
Funding Fee Settlement Frequency
| Time (UTC) | Max. Funding Fee |
| 08:00 on Aug 14, 2023 | +5.0%/-5.0% |
| 12:00 on Aug 14, 2023 | +2.5%/-2.5% |
| 16:00 on Aug 14, 2023 | +2.5%/-2.5% |
| 20:00 on Aug 14, 2023 | +2.5%/-2.5% |
| 00:00 on Aug 15, 2023 | +2.5%/-2.5% |
| … | … |
Notice
1. Funding fees are paid between long-position users and short-position users, and CoinEx does not participate in collecting any funding fees.
2. The above-mentioned adjustment plan will take effect at 11:30 on Aug 14, 2023 (UTC), that is, at 12:00 on Aug 14 (UTC), the first settlement of the new rules will take place.
3. The actual effective time will be notified separately if there is any change. For more details about the current rules, please click [here] to view.
CoinEx reserves the right of final interpretation of this announcement.
CoinEx team
Aug 14, 2023