Dear CoinEx users,
CoinEx will adjust the funding fee settlement rules for MINAUSDT contract at 3:00 on Nov 3, 2023(UTC). We will adjust the funding rate calculation rules for MINAUSDT contract, The details are as follows.
Funding Rate Rules Adjustment
1. Current rules
(1) Calculation
Fixed interest rate (I) = 0
Premium index (P) = ((Depth-weighted bid price + Depth-weighted ask price)/2 - Spot index price)/Spot index price
Average premium index (P+) = Arithmetic average of all premium indices in the previous cycle
Funding rate (F) = clamp(Average premium index (P+) + clamp(Interest rate (I) - Average premium index (P+), ±d) , a , b)
*a,b are the upper and lower limits of the funding rate, while d is the added buffer coefficient with a value of 0.03%.
(2) For BTCUSD, ETHUSD, BTCUSDT, ETHUSDT Linear contracts: a = -0.375%, b = 0.375%
(3) For MINAUSDT Linear contract: a = -2.5%, b = 2.5%
(4) For all other Linear contracts:
Lower limit a = -0.75 * Minimum initial margin ratio
Upper limit b = 0.75 * Minimum initial margin ratio
(5) Depth-weighted price
Margin impact amount = Max position size openable under minimum maintenance margin ratio * 0.01
Define "p" as the quantity/lot size of the underlying (assume the quantity/lot size of the nth level is pn), and "q" as the price of the quote currency.
For long contracts, depth-weighted price = (p1 * q1 + p2 * q2 + ... + pn * qn) / margin impact amount, where p1 + p2 + ... + pn = margin impact amount (in units of BTC or ETH, etc.)
2. After adjustment
(1) For MINAUSDT Linear contract: a = -0.75%, b = 0.75%
(2) Other rules remain unchanged.
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 03:00 on Nov 3, 2023 (UTC), that is, the last settlement under the old rules will be performed at 00:00 on Nov 3, 2023 (UTC), at 08:00 on Nov 3 (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
Nov 2, 2023