Funding occurs every eight hours at 04:00 (UTC), 12:00 (UTC) and 20:00 (UTC). Write-off or accrual of financing is carried out only if you have an open position at the time of one of the timestamps. Negative financing is received by those traders whose position volumes make up the majority, and those traders whose volume amounts to a minority receive positive financing. If a position is closed before one of these timestamps occurs, no write-off or accrual of financing occurs.
The amount of financing is calculated as follows:
Financing = position size * financing rate
The position amount does not depend on the amount of leverage. For example, if there are 100 contracts on XBT / USD, financing is debited / charged based on the nominal amount of these contracts and has nothing to do with the margin set for this position.
When the financing rate is positive, owners of long positions (longs) pay owners of short positions (shorts). When the rate is negative, the shorts pay to the longs.