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    Adjustment to Gate.io Perpetual Contracts Funding

    2022-08-01 00:36:44 UTCRead:16707
    Gate.io is going to adjust the funding rate calculation for all perpetual contracts. Funding is a periodic payment exchanged between the buyer and seller in perpetual contract trading every 8 hours to ensure that the perpetual contract price is anchored to the spot price. Gate.io is currently applying the funding rate calculated from the previous funding period to the current period. While this eliminates the uncertainty in funding rate, making it easier for traders to estimate costs and plan their trading strategies, it has latency in reflecting the real-time market changes. Given the currently fast-changing market conditions, Gate.io is planning to change to the current period’s funding rate, starting from August 8, 2022 at 8:00 AM UTC. August 8, 2022 , 8:00 AM UTC will be the last time the previous period's funding rate is used. August 8, 2022 , 16:00 UTC will be the first time the new funding rate (the average funding rate over the period 8:00-16:00) is used.

    With this change, the average of funding rates over the current period will be used to settle the funding for the current period. The Funding rate is not settled until the end of the current funding period.

    For the funding rate api endpoint, it will still keep both `funding_rate_indicative` and `funding_rate` fields, but both will return the predicted funding rate for the current period.

    About funding and funding Rate:
    The funding rate is calculated every minute, the average of funding rates over the 8-hour period will be used to settle the funding.
    Funding is the periodic payments exchanged between the buyer and seller, Gate.io does not charge any fee.
    Funding = Position Value * Funding Rate (position value is irrespective of leverage).
    If the rate is positive, the longs will pay shorts; if the rate is negative, shorts will pay longs.
    Funding Timestamps: UTC 0:00, UTC 8:00, UTC 16:00
    If you do not hold positions at these times you will not receive or pay funding.

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    Gate.io Team
    August 1, 2022

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