Binance OMG USDⓈ-M Contract Funding Rate Settlement Frequency and Rate Upper Limit Multiplier Adjustment Announcement.
Updates on OMG USDⓈ-M Perpetual Contract
The Binance Contract will adjust the OMG USDⓈ-M contract funding rate frequency and rate cap multiplier at 22:00 on November 11, 2021 (East Eighth District Time).
The fund rate settlement frequency will be adjusted from once every eight hours to once every two hours until 08:00 on November 12, 2021 (East Eighth District Time).
The specific arrangements are as follows:
| 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% |
The upper limit multiplier of the OMG USDⓈ-M contract funding rate is raised from 0.75 to 1.
The maintenance margin will affect the upper limit of the funding rate.
The upper limit of the funding rate = clamp (funding rate, -1*maintenance margin rate, 1*maintenance margin rate).
For detailed calculation rules, please refer to Binance Contract Funding Rate Introduction.
Go to Binance Official Website
Example of calculating the maximum fund rate:
To calculate the upper and lower limits of the OMG USDⓈ-M contract, according to the leverage and margin table, when the leverage is the highest multiple of 25 times, the “maintenance margin ratio” is 0.24%.
Capital rate upper limit = Capital rate upper limit multiplier * Maintenance margin = 1*2.4% = +2.4%.
The lower limit of the funding rate = the upper limit of the funding rate multiplier * maintenance margin = -1*2.4% = -2.4%.
Please refer to the updated funding rate to place an order. For orders that have been opened, please adjust the position and margin to avoid forced liquidation.
Please check Binance official website or contact the customer support with regard to the latest information and more accurate details.
Binance official website is here.
Please click "Introduction of Binance", if you want to know the details and the company information of Binance.
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April 24, 2024
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