Update on Funding Exchange Schedule for Perpetual Contracts

We are updating the way funding payments for perpetual contracts are exchanged between longs and shorts.

What’s Changing

• New schedule: Funding will now be exchanged once every 8 hours at the following times (IST): 5:30am, 1:30pm and 9:30pm
  
  

• Previously, funding was exchanged every minute.
  
  

• These times were already being used to compute the 8-hourly funding rate. Going forward, the funding exchange will also take place at these times.
  
  

• In some perpetual contracts, the funding interval may be reduced to less than 8 hours. Any such adjustments will be announced promptly
  
  

This change will be effective starting with the funding interval that begins at 5:30pm on 8th September 2025.

Everything else remains unchanged:

• The funding rate calculation methodology.
  
  

• The value of funding exchanged between longs and shorts.

Complete details of how funding is complete here in the user guide. 

Important Ramifications

1. Transaction Logs
   
   

   • In your asset history, you will now see one entry for funding every 8 hours, instead of multiple entries every 2 hours.
     
     

2. Position Snapshots
   
   

   • The matching engine will take a snapshot of all open positions at each funding exchange time (05:30, 13:30, 21:30 IST).
     
     

   • If your position is in the snapshot, you will either pay or receive funding depending on the sign of the rate and whether you are long or short.
     
     

   • If your position is not in the snapshot, you will not pay or receive funding.
     
     

   • Timing considerations:
     
     

     • Closing a position right before the exchange time means you avoid funding.
       
       

     • Opening a position right before the exchange time means you may immediately pay or receive funding.
       
       

     • The duration of time you held the position between two funding exchanges is no longer relevant.
       
       

3. Asynchronous Trading Systems
   
   

   • Our systems are asynchronous.
     
     

   • For trades opened or closed very close to the funding exchange times, the entries for the trade and the funding may not always appear in perfect sequence in your logs.
     
     

We believe this adjustment makes funding more predictable, easier to track, and consistent with global best practices.