If the contract is left unsold, it will incur costs. Let me see how many people are still unaware?

This mainly depends on something called the 'funding rate.' You can think of the funding rate as a 'tip' that might change daily. It is displayed in the upper right corner of the order book and usually starts at 0.01%. However, this rate adjusts at any time based on the ratio of buyers to sellers in the market.

This 'tip' is collected three times a day, specifically at midnight, 8 AM, and 4 PM. You will only be charged this fee if you still hold a position at these three time points.

If the funding rate is positive, for example, 0.01%, and you hold a long position, you will have to pay, while if you hold a short position, you will receive money. Conversely, if the funding rate is negative, you will have to pay if you have a short position, and you will receive money if you have a long position.

Who pays this money?

Actually, it is exchanged between buyers and sellers in the market. The calculation is quite simple: it’s your position's value multiplied by the funding rate.

So if you plan to hold the contract for the long term, this funding fee can add up to a significant amount.

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