Fellow Binancians,
Binance Futures will increase the funding rate settlement frequency and capped funding rate multiplier of the OMG USDⓈ-M Contract starting from 2021-11-11 at 14:00 (UTC) to 2021-11-12 at 00:00 AM (UTC). The detailed arrangement is as in the table below.
| Time | Max Funding Rate |
2021-11-11 14:00 （UTC) | +2.40% / -2.40% |
2021-11-11 16:00 （UTC) | +2.40% / -2.40% |
2021-11-11 18:00 （UTC) | +2.40% / -2.40% |
2021-11-11 20:00 （UTC) | +2.40% / -2.40% |
2021-11-11 22:00 （UTC) | +2.40% / -2.40% |
2021-11-12 00:00 （UTC) | +2.40% / -2.40% |
Notes:
- Capped Funding Rate Multiplier is raised from 0.75 to 1.
- Capped Funding Rate = clamp (Funding Rate, -1 * Maintenance Margin Ratio, 1 * Maintenance Margin Ratio). For more on funding rate, please refer to Introduction to Binance Futures Funding Rates.
Max Funding Rate Calculation Example:
- To calculate the Funding Rate Floor and Cap of OMGUSDT perpetual contract, the 2.4% is used as corresponding to "Maintenance Margin Ratio" at max leverage 25x on the Leverage & Margin Table.
- Cap = Capped Funding Rate Multiplier * Maintenance Margin Ratio = 1 * 2.4% = +2.4%
- Floor = Capped Funding Rate Multiplier * Maintenance Margin Ratio = -1 * 2.4% = -2.4%
Existing positions opened before the updates will be affected. It is strongly advised to adjust the position and leverage in order to avoid any potential liquidation.
Further information:
- Liquidation
- Leverage and Margin of USDⓈ-M Futures Contracts
- Introduction to Binance Futures Funding Rates
Risk Warning: Futures trading carries substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movements. The information here should not be regarded as financial or investment advice from Binance. All trading strategies are used at your discretion and your own risk. Binance will not be liable to you for any loss that might arise from your use of Futures. To learn more about how to protect yourself, visit our Responsible Trading resource page.
Thanks for your support!
Binance Team
2021-11-11
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Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.
Binance reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.