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.

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