Adjust Funding Setup Under All Markets

Governance
1

The current funding setup on MUX charges funding fees from positions every 8 hours, and the rate is calculated using the following formula:

fundingFeeRate = max{utilization × limitRate, baseRate}
The annualized baseRate is currently up to 10%, and annualized limitRate is currently up to 30%.

After analyzing latest trading activities, MUXLP liquidity utilization and other relevant protocols on the market, MUX will have the following changes to the funding setup:

  1. The funding fee charging interval will change from every 8-hour to every 1-hour.
  2. The annualized baseRates and limitRates will be updated as follows:

  • baseRate (Annualized)

    • Long - ETH: 8%
    • Long - BTC: 8%
    • Long - BNB: 8%
    • Long - AVAX: 8%
    • Long - FTM: 8%
    • Long - OP: 8%
    • Short: 8%

  • limitRate (Annualized)

    • Long - ETH: 50%
    • Long - BTC: 50%
    • Long - BNB: 50%
    • Long - AVAX: 50%
    • Long - FTM: 50%
    • Short: 60%

These updates will become effective on Mar. 13th UTC, 2023. The MUX team will continue to evaluate the funding setup, and we’ll make further improvements in the future. Please let us know if you have any questions.

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