CoinW's perpetual futures do not have an expiry or settlement date. Instead, a funding rate mechanism is used to keep the price of perpetual futures closely aligned with the spot market price.
When there’s a price difference between the perpetual market and the spot market, traders with open positions are required to periodically pay a funding fee to the opposing side (long or short).
When the funding rate is positive, longs pay shorts.
When the funding rate is negative, shorts pay longs.
This mechanism helps ensure that the perpetual futures price stays close to the spot price, reducing imbalances and maintaining smooth market operations.
Please note: CoinW does not charge any service fees for this mechanism. It merely facilitates the transfer of funding payments between long and short position holders.
Unlike traditional futures, perpetual futures have no expiry date, allowing traders to hold positions indefinitely unless liquidated. To ensure that perpetual futures prices remain anchored to the spot index price, a funding rate mechanism is introduced, where fees are periodically exchanged between long and short position holders.
(1) Settlement Cycle
The funding rate is typically updated every 5 seconds, and funding fees are settled every 8 hours or every 4 hours for certain contracts. Settlement intervals may vary by contract. Please refer to the page display for the actual settlement cycle.
For contracts that settle every 8 hours, the settlement times are 00:00 (UTC), 08:00 (UTC), and 16:00 (UTC).
For contracts that settle every 4 hours, the settlement times are 00:00 (UTC), 04:00 (UTC), 08:00 (UTC), 12:00 (UTC), 16:00 (UTC), and 20:00 (UTC).
During periods of extreme market volatility, CoinW may adjust the funding fee settlement interval. Funding fees are only paid or received if you hold an open position at the time of settlement.
CoinW cannot guarantee the exact time at which funding fees are processed for any specific trading pair. For example, if a trader opens a position at 08:00:59 (UTC), the funding fee may still apply, regardless of whether the trader is on the paying or receiving side. New orders submitted during the funding fee settlement window may also experience significant delays.
(2) Funding Fee Calculation
Funding Fee = Position Value × Current Funding Rate
• Position Value generally refers to the notional value of the position, meaning the total underlying asset value represented by the position size, without taking current price fluctuations into account.
Position Value = Number of Contracts × Mark Price × Contract Face Value
Cross Margin Mode: Funding fees are directly deducted from or added to the Futures account balance.
Isolated Margin Mode: Funding fees are directly deducted from or added to the margin allocated to the position. This directly affects the position’s liquidation price and margin ratio.
(3) Settlement Time and Snapshot Mechanism
Before a funding fee settlement, opening or closing a position may affect whether you are subject to the funding fee for that settlement period. For example, if a trader opens a position at 07:59:59 UTC and closes it at 08:00:01 UTC, while the funding fee is settled at 08:00:02 UTC, the trader may not be subject to the funding fee for that period (whether paying or receiving).
Only traders who hold open positions at the scheduled funding time are subject to funding fees, regardless of their position direction. If no position is held at that time, no funding fee will be paid or received. If a position is closed before the funding time, the trader will not pay or receive funding fees.
Go to [Futures Trading] > [Current Funding Rate / Time to Settlement] > [Learn More], then select:
Real-Time Funding Rate
Funding Rate History
to view detailed current and past funding rates.
For more information on futures, please visit the CoinW Futures Introduction page.
CoinW's perpetual futures do not have an expiry or settlement date. Instead, a funding rate mechanism is used to keep the price of perpetual futures closely aligned with the spot market price.
When there’s a price difference between the perpetual market and the spot market, traders with open positions are required to periodically pay a funding fee to the opposing side (long or short).
When the funding rate is positive, longs pay shorts.
When the funding rate is negative, shorts pay longs.
This mechanism helps ensure that the perpetual futures price stays close to the spot price, reducing imbalances and maintaining smooth market operations.
Please note: CoinW does not charge any service fees for this mechanism. It merely facilitates the transfer of funding payments between long and short position holders.
Unlike traditional futures, perpetual futures have no expiry date, allowing traders to hold positions indefinitely unless liquidated. To ensure that perpetual futures prices remain anchored to the spot index price, a funding rate mechanism is introduced, where fees are periodically exchanged between long and short position holders.
(1) Settlement Cycle
The funding rate is typically updated every 5 seconds, and funding fees are settled every 8 hours or every 4 hours for certain contracts. Settlement intervals may vary by contract. Please refer to the page display for the actual settlement cycle.
For contracts that settle every 8 hours, the settlement times are 00:00 (UTC), 08:00 (UTC), and 16:00 (UTC).
For contracts that settle every 4 hours, the settlement times are 00:00 (UTC), 04:00 (UTC), 08:00 (UTC), 12:00 (UTC), 16:00 (UTC), and 20:00 (UTC).
During periods of extreme market volatility, CoinW may adjust the funding fee settlement interval. Funding fees are only paid or received if you hold an open position at the time of settlement.
CoinW cannot guarantee the exact time at which funding fees are processed for any specific trading pair. For example, if a trader opens a position at 08:00:59 (UTC), the funding fee may still apply, regardless of whether the trader is on the paying or receiving side. New orders submitted during the funding fee settlement window may also experience significant delays.
(2) Funding Fee Calculation
Funding Fee = Position Value × Current Funding Rate
• Position Value generally refers to the notional value of the position, meaning the total underlying asset value represented by the position size, without taking current price fluctuations into account.
Position Value = Number of Contracts × Mark Price × Contract Face Value
Cross Margin Mode: Funding fees are directly deducted from or added to the Futures account balance.
Isolated Margin Mode: Funding fees are directly deducted from or added to the margin allocated to the position. This directly affects the position’s liquidation price and margin ratio.
(3) Settlement Time and Snapshot Mechanism
Before a funding fee settlement, opening or closing a position may affect whether you are subject to the funding fee for that settlement period. For example, if a trader opens a position at 07:59:59 UTC and closes it at 08:00:01 UTC, while the funding fee is settled at 08:00:02 UTC, the trader may not be subject to the funding fee for that period (whether paying or receiving).
Only traders who hold open positions at the scheduled funding time are subject to funding fees, regardless of their position direction. If no position is held at that time, no funding fee will be paid or received. If a position is closed before the funding time, the trader will not pay or receive funding fees.
Go to [Futures Trading] > [Current Funding Rate / Time to Settlement] > [Learn More], then select:
Real-Time Funding Rate
Funding Rate History
to view detailed current and past funding rates.
For more information on futures, please visit the CoinW Futures Introduction page.