Updates on Funding Rate Settlement Frequency and Capped Funding Rate Multiplier of SOLUSDT, SOLBUSD and SOLUSD Perpetual Futures Contracts (2022-11-09)

Fellow Binancians,

Binance Futures will increase the funding rate settlement frequency of the SOLUSDT, SOLBUSD and SOLUSD Perpetual Futures Contracts starting from 2022-11-09 at 20:00 (UTC). The detailed arrangement is as in the table below.

Time	Max Funding Rate of SOLUSDT Perpetual Futures Contract	Max Funding Rate of SOLBUSD Perpetual Futures Contract	Max Funding Rate of SOLUSD Perpetual Futures Contract
2022-11-09 20:00 (UTC)	2.00% / -2.00%	2.50% / -2.50%	2.50% / -2.50%
2022-11-10 00:00 (UTC)	2.00% / -2.00%	2.50% / -2.50%	2.50% / -2.50%
2022-11-10 04:00 (UTC)	2.00% / -2.00%	2.50% / -2.50%	2.50% / -2.50%
2022-11-10 08:00 (UTC)	2.00% / -2.00%	2.50% / -2.50%	2.50% / -2.50%
2022-11-10 12:00 (UTC)	2.00% / -2.00%	2.50% / -2.50%	2.50% / -2.50%
2022-11-10 16:00 (UTC)	2.00% / -2.00%	2.50% / -2.50%	2.50% / -2.50%
…	2.00% / -2.00%	2.50% / -2.50%	2.50% / -2.50%

Notes:

Please note that there may be further adjustments to the funding rate settlement frequency of the aforementioned perpetual futures contracts. There will be no further announcement on such adjustments.
As of 2022-11-09, the Capped Funding Rate Multiplier for SOLUSDT, SOLBUSD and SOLUSD Perpetual Futures Contracts has been raised from 0.75 to 1.
Capped Funding Rate = clamp (Funding Rate, -1 * Maintenance Margin Ratio, 1 * Maintenance Margin Ratio). For more on funding rate, please refer to Introduction to Binance Futures Funding Rates.

Max Funding Rate Calculation Example:

To calculate the Funding Rate Floor and Cap of SOLBUSD Perpetual Futures Contracts, 2.50% is used as the "Maintenance Margin Ratio" corresponding to the maximum leverage of 20x on the Leverage & Margin Table.
- Cap = Capped Funding Rate Multiplier * Maintenance Margin Ratio = 1 * 2.50% = 2.50%
- Floor = Capped Funding Rate Multiplier * Maintenance Margin Ratio = -1 * 2.50% = -2.50%

Existing positions opened before the updates will be affected. It is strongly advised to adjust the position and leverage in order to avoid any potential liquidation.

Further information:

Liquidation
Leverage and Margin of USDⓈ-M Futures Contracts
Introduction to Binance Futures Funding Rates

Thanks for your support!

Binance Team

2022-11-09

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