Cryptocurrency futures prices are tied to the spot market prices. Due to the perpetual nature of perpetual futures, users can hold them indefinitely, which may cause a deviation between the futures price and the spot price. Therefore, the funding fee mechanism is used to anchor the perpetual futures price to the spot price.
The futures contract funding fee is transferred between long and short positions, and the platform does not charge any fees for funding. When the funding rate is positive, long positions pay funding fees to short positions, and vice versa when the funding rate is negative.
Funding fees are collected at 08:00, 16:00, and 24:00 (UTC+8) every day, with collections occurring every 8 hours (there is a 15-second deviation from the actual collection time). Users only pay funding fees if they hold positions at the time of collection; otherwise, no funding fees are required.
The theoretical calculation formula for funding fees is as follows:
Funding Fee = Position Value * Funding Rate
The funding rate can be viewed on the futures candlestick chart page.
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