Purpose of Funding Fees
The purpose of funding fees is to promote the alignment of the real trading price with the index price through a compensation mechanism between long and short positions. HyperPay does not charge any funding fees; instead, funding fees are exchanged between users.
Fee Collection:
Funding fees are exchanged every 8 hours at UTC+8 00:00, UTC+8 08:00, and UTC+8 16:00. Fees are only incurred if you hold a position at these times. If you close your position before the fee collection time, you will not incur or receive any funding fees.
- When the funding rate is positive, long positions pay short positions.
- When the funding rate is negative, short positions pay long positions.
- For positions held in both directions, only the net position's funding fee is calculated.
Calculation of Funding Fees:
Funding Fee = Nominal Value of Position×Funding Rate
Your position value is independent of leverage. For example, if you hold 100 BTC perpetual contracts, the funding fee is calculated based on the nominal value of these contracts, not on the amount of margin allocated to the position.
Calculation of Funding Rate:
Funding rate (F) = premium index (P) + clamp (interest rate (I) - premium index (P), 0.05%, -0.05%)
in:
Premium index (P) = (Max (0, depth-weighted bid price - mark price) - Max (0, mark price - depth-weighted ask price)) / spot price + reasonable basis of mark price
Interest rate (I) = (Pricing interest rate index - Basic interest rate index) / Funding rate interval
Funding Rate Cap:
HyperPay caps the funding rate to ensure the ability to use high leverage safely. The absolute maximum funding rate is 0.15%.