Perpetual

Funding Rate

Perpetual contracts, unlike traditional futures contracts, lack an expiry date and use funding rates to encourage the perpetual price to align with the underlying asset's price. The Funding Rate is determined algorithmically based on the Index Price and Mid-Market Prices, prompts long traders to pay shorts when the perpetual trades at a premium and vice versa.

These payments are proportional to traders' positions and are exchanged directly between traders, not involving the exchange. The goal of the Funding Rate is to maintain the perpetual market's price close to the Index Price by incentivizing trading actions that bring it in line with the underlying asset's value.

Title	Value	Definition
funding_rate_clamp_factor_ppm	6000000 [6%]	Used for clamping 8-hour Funding Rates according to the equation: funding_rate_clamp_factor * (initial margin - maintenance margin).
premium_vote_clamp_factor_ppm	60000000 [60%]	Used for clamping 8-hour Premium Votes according to the equation: premium_vote_clamp_factor * (initial margin - maintenance margin).
min_num_votes_per_sample	15	Minimum number of premium votes per premium sample.

Epoch Information

Funding rate and premium payments are credited or debited at a fixed interval based on the Epoch Information parameters. These parameters define the funding rate interval and premium sampling interval:

• Next Tick: when the next epoch starts in seconds.

• Duration: duration of the epoch in seconds.

• Is Initialized: whether the epoch has been initialized.

• Fast Forward Next Tick: specifies whether next_tick.

• should be fast-forwarded to be greater than the current block time.

Name	Next Tick	Duration (seconds)	Current Epoch	Current Epoch Start Block	Is Initialized	Fast Forward Next Tick
funding-sample	30	60	0	0	False	True
funding-tick	0	3600	0	0	False	True
stats-epoch	0	3600	0	0	False	True