Dear CoinEx users,
CoinEx will adjust the funding fee settlement rules for LPTUSDT contract at 3:00 on Aug 22, 2023(UTC). We will adjust the funding rate calculation rules for LPTUSDT contract, and the funding fee settlement frequency will be adjusted from every 4 hours to every 8 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 = -2.5%, b = 2.5%
(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 = -0.75%, b = 0.75%
(2) Other rules remain unchanged.
Funding Fee Settlement Frequency
|Time (UTC)||Max. Funding Fee|
|00:00 on Aug 22, 2023||+2.5%/-2.5%|
|08:00 on Aug 22, 2023||+0.75%/-0.75%|
|16:00 on Aug 22, 2023||+0.75%/-0.75%|
|00:00 on Aug 23, 2023||+0.75%/-0.75%|
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 03:00 on Aug 22, 2023 (UTC), that is, the last settlement under the old rules will be performed at 00:00 on August 22, 2023 (UTC), and the first settlement under the new rules will be conducted at 08:00 on August 22, 2023 (UTC).
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.
Aug 21, 2023