When you open the perpetual contract page, you see a countdown next to the funding rate and want to know exactly how much you will pay or receive. These data entries are actually located in the same place on the trading interface. The concept of a "settlement price" is different for perpetual contracts and delivery contracts. Perpetual contracts do not have the daily fixed-time settlement process that delivery contracts have.
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First, understand: the "settlement price" of perpetual contracts is different from delivery contracts
Delivery contracts, such as current quarter and next quarter contracts, have a daily settlement mechanism. Every day at 4:00 PM (UTC+8), cross margin positions are settled. The settlement price is the average of the mark price over the 30 minutes before settlement.
Perpetual contracts do not have this type of daily fixed settlement process. The core mechanism of perpetual contracts is the funding fee, which helps bring the contract price closer to the spot price. So the "settlement price" related operations you see in perpetual contracts are actually funding fee payment and receipt records, not the settlement process used by delivery contracts.
How to check the funding rate
The core information on the perpetual contract page is the funding rate and countdown. The entry is located in the upper right corner of the trading interface.
To check the current funding rate, countdown, and settlement cycle for a perpetual contract, follow these steps:
App: Open the perpetual contract trading page → Tap the funding rate/countdown in the upper right corner → You can see the current funding rate, countdown, and settlement cycle.
Web: Contract trading page → Click the funding rate/countdown in the upper right corner → View the current rate/annualized rate and countdown. If you cannot see this entry, first click the expand icon << on the right side of the page and switch to professional mode.
After completing these steps, you can see the specific current funding rate, how much time is left until the next payment, and the settlement cycle for that contract. The cycle is usually 8 hours, but some contracts use 1, 2, or 4 hours.
How to check how much funding fee you actually paid or received
The funding fee is automatically deducted from or credited to your position account at each settlement cycle.
To view historical funding fee income and expense records, follow these steps:
App: Home page Assets → History icon in the upper right corner → Transaction bill → Set transaction type to Perpetual → Set bill type to Funding fee
Web: Asset Management → Order Center → Transaction Bill → Set bill subtype to Funding fee
In the list, you can see detailed records of each funding fee, including the expense and income amounts and the corresponding time.
How to check historical funding rate changes
If you want to see how the rate fluctuated in previous settlement cycles, you can jump there from the trading page.
To view funding rate history for the past 3 months: On the perpetual contract trading page, click funding rate/countdown → Tap Funding rate history at the bottom → Scroll down to browse.
After completing these steps, you can see the rate records for each past settlement cycle for that contract.
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Funding fee settlement time
By default, funding fees are paid and received every day at 08:00, 16:00, and 24:00 (UTC+8), once every 8 hours. Some contracts may use settlement cycles of 1, 2, or 4 hours. Please refer to the contract page for the exact schedule.
You only need to pay or receive the funding fee if you hold a position at that moment. If you close your position before the fee calculation, you will not pay or receive anything.
One point that is easy to overlook: The funding rate is paid between long and short positions. The platform does not charge this fee. When the rate is positive, longs pay shorts. When it is negative, shorts pay longs. If you hold a position, this fee is automatically deducted from or added to your account balance at each settlement cycle. No manual operation is needed.
How to verify after completing the operation: After placing an order, wait until the next funding fee settlement time, usually 08:00, 16:00, or 24:00 UTC+8. Then go to Transaction Bill - Funding fee and check whether the fee is automatically recorded. If you can see the record, it means the funding fee payment and receipt process is working normally.
