[Tutorial]Funding Calculation

USDT-margined futures has no expiry or delivery, and anchors the contract price to the spot price by using the "Funding Mechanism".

USDT-margined futures are settled every 8 hours at the end of each period. There are three periods in total, which are 00: 00-8: 00, 8: 00-16: 00, 16: 00-00:00 (+1). The settlement time is 8:00 for the first period, 16:00 for the second period; 00:00 for the third period. The above are GMT+8 time.

Only users who hold positions at the settlement have to pay or receive funding; Users whose positions have been closed before the settlement are not required to pay or receive funding.

At the settlement, whether a user should receive or pay funding depends on the funding rate of the current period and the positions of the user. If the funding rate is positive, users with long positions should pay funding to users with short positions; if the funding rate is negative, users with short positions should pay funding to users with long positions.

Funding is a payment between users. we do not charge any funding from users.