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Funding Interval

Funding payments between long and short position holders occur at regular intervals specific to each contract (see Funding Payments section for details). Each contract’s funding rate reflects the market’s supply/demand imbalance for that asset, and the interval timing (e.g. 8h, 4h, 1h) is defined in the contract specifications.

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Settlement

As perpetual contracts, there is no expiration date and no final settlement. Unrealized P&L continuously accrues based on the Mark Price and is realized when positions are closed. Funding payments serve as a mechanism to continually settle deviations between the contract price and the underlying price. If a position is liquidated, it is immediately closed out at market; any loss beyond the trader’s collateral is handled by the Insurance Fund (and ultimately ADL if necessary).