ZB perpetual futures funding rates targeted spot marketing price, funding payments occur every 8 hours at 00:00，08:00，16:00（HKT）for all ZB futures perpetual contracts. According to the price gap between perpetual futures and spot market pay funding fee for longs or short.
Funding fee
Funding fee= notional value * funding rate. When the market is bullish, the funding rate is positive and tends to rise over time. In these situations, traders who are long on a perpetual contract will pay a funding fee to traders on the opposing side. Conversely, the funding rate will be negative when the market is bearish, where traders who are short on a perpetual contract will pay a funding fee to long traders.
Fund rate = Clamp(Average Premium Index + Clamp(Interest rate (I) - Average Premium Index, 0.05% to -0.05%), the funding rate shall be calculated every minute from the lower limit to the upper limit of the funding rate;
Average Premium Index = (1* Premium index 1 + 2* Premium index 2 + 3* Premium index 3 +... +480 * Premium index 480)/(1+2+3+···+480)
Premium index = [Max(0, shock buy price - price index) - Max(0, price index - shock sell price)] / price index
Shock buy/sell price = Shock guarantee amount/(the number of orders for buying/selling N grades reaching the shock guarantee amount + the cumulative number of orders for buying/selling N-1 grades)
The entrustment quantity of n files reaching the impact guarantee amount = the impact guarantee amount/the entrustment price of N files - the accumulative entrustment amount of N-1 files/the entrustment price of N files
When the fund fee is charged, it will be deducted from the realized profit and loss of the user first，if the shortfall has been realized, the excess is deducted from the fixed margin of the customer's position，the maximum amount deducted is the user's margin rate equal to the maintenance margin rate + closing rate, the excess part will not be charged.
The actual capital charges that the user can charge also depend on the total amount deducted from