Funding fees are calculated using the following formula:
Funding fees = Position notional value * Funding rate
Position notional value = Mark price x Quantity of contracts (for USDⓈ-Margined contracts)
or Position notional value = Contract multiplier x Quantity of contracts (for Coin-Margined contracts)
On cryptocurrency derivative exchanges, funding costs for all perpetual contracts are typically calculated every 8 hours at 08:00, 16:00, and 24:00 Hong Kong time. Only when a trader holds a position in any direction at the funding time will they be charged or paid the corresponding funding rate. If a trader has no open positions at the funding time, they will not be charged or paid any funding fees. Please note that there is a 15-second deviation in the actual time when funding rates are charged. For example, if user A opens a position at 08:00:05 Hong Kong time, they may still be charged or paid the funding rate, so please pay attention to your opening time.