Funding Rate
The funding rate ensures that AnteX perpetual contract prices remain anchored to spot market prices. At settlement, users holding positions may either pay or receive funding fees:
Positive Funding Rate: Longs pay Shorts
Negative Funding Rate: Shorts pay Longs
Funding is settled on a fixed cycle (every 8 hours), with cycle parameters dynamically adjusted based on liquidity and market size.
Funding Rate Calculation
𝐹𝑢𝑛𝑑𝑖𝑛𝑔 𝑅𝑎𝑡𝑒 = 𝑃𝑟𝑒𝑚𝑖𝑢𝑚 𝐼𝑛𝑑𝑒𝑥 + 𝐶𝑙𝑎𝑚𝑝(𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡𝑅𝑎𝑡𝑒 − 𝑃𝑟𝑒𝑚𝑖𝑢𝑚 𝐼𝑛𝑑𝑒𝑥,−0.05%,0.05%)The Premium Index measures the deviation between the Impact Price and the Oracle Price:
The Impact Price is determined by the average execution price of orders within the AnteX order book at the defined impact notional amount.
A fixed rate of ±0.05% stabilizes the funding fee against minor fluctuations in the premium, ensuring a consistent funding rate under relatively stable market conditions.
Dynamic Sampling & Caps
The AnteX native oracle system samples the funding rate every 5 seconds and continuously updates the TWAP (Time-Weighted Average Price) for that period.
At the end of each settlement cycle (default 1 hour for expected value calculation; 8 hours for actual funding payments), the average funding rate over the cycle is applied to all open positions.
Funding rate fluctuations are capped at ±4% per hour to ensure stability even during periods of extreme market volatility.
Impact Notional
To ensure fair calculations, AnteX uses a defined level of order book depth as the benchmark, referred to as Impact Notional (with initial values dynamically adjusted based on liquidity and market size).
BTC
20,000
Other Major Assets
6,000
Funding Payments
Long Positions
Positive Rate: Account balance decreases (funding fee paid)
Negative Rate: Account balance increases (funding fee received)
Short Positions
Positive Rate: Account balance increases (funding fee received)
Negative Rate: Account balance decreases (funding fee paid)
All funding settlements are exchanged directly between longs and shorts, with no fees retained by the AnteX platform.
Impact on Isolated Margin & Liquidation
For isolated positions, funding payments directly affect the margin balance, which in turn alters the liquidation price.
At the end of each funding cycle, the system recalculates the liquidation price to reflect margin changes, ensuring transparency and controllable risk management.
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