Dear users;
Toobit constantly reviews its product and service offerings to ensure the best user experience for all users. Based on the recent reviews, Toobit Futures will increase the funding rate settlement frequency of selected USDⓈ-M Perpetual Contracts from every eight hours to every four hours at 2023-10-12 08:00 (UTC).
Funding rate settlement frequency of the following USDⓈ-M Perpetual Contracts will be adjusted to every four hours.
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USDⓈ-M LPT Perpetual Contract
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USDⓈ-M API3 Perpetual Contract
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USDⓈ-M BLZ Perpetual Contract
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USDⓈ-M CYBER Perpetual Contract
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USDⓈ-M YGG Perpetual Contract
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USDⓈ-M UNFI Perpetual Contract
Example USDⓈ-M LPT Perpetual Contract on 12th,Oct,2023；
| Settlement Time | Max Funding Rate |
| 00:00-08:00 | 3.7500% / -3.7500% |
| 08:00-16:00 | 3.7500% / -3.7500% |
| 16:00-20:00 | 3.7500% / -3.7500% |
| 20:00-00:00 | 3.7500% / -3.7500% |
Funding rates help converge the price of the perpetual contract and the price of the underlying asset on the spot market. Funding rates are transferred directly between traders. Toobit only facilitates the exchange of funding amounts between long-position and short-position holders.
If the funding rate is positive, long-position holders will pay funding amounts to short-position holders, and vice versa. Funding amounts are calculated based on the nominal value of positions and funding rates.
Funding payments with a settlement frequency of every 8 hours occur at 00:00 (UTC), 08:00 (UTC), and 16:00 (UTC), while funding payments with a settlement frequency of every 4 hours occur at 00:00 (UTC), 04:00 (UTC), 08:00 (UTC), 12:00 (UTC), 16:00 (UTC) and 20:00 (UTC).
Toobit Team
2023.10.11
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Toobit reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reason without prior notice.
Risk Warning: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Toobit is not liable for any losses that might arise from your use of Margin. This information should not be regarded as financial or investment advice. For more information, see ourTerms of UseandRisk Warning.