KKcoin contract transaction anchors spot price through fund cost mechanism.
Funds are charged every 8 hours at 00:00, 08:00 and 16:00 a day. Only when the user holds the position at that time will the user need to pay or charge for the fund. If the warehouse is closed before the fee is charged, there is no need to pay the fund fee.
Funds Cost Formula
USD Trading Area: Capital Cost = Transaction Unit * Holding Hands * Latest Transaction Price * Capital Rate
BTC/EHT Trading Area: Capital Cost = Transaction Unit * Holder Number * Capital Rate
When the capital rate is positive, the bearer pays short; when the capital rate is negative, the bearer pays long.
Capital rate = Clamp (MA (((contract purchase price + contract sale price) / 2 - spot index price) / spot index price - Interest), a, b)
* Interest is currently 0
* All current contracts: a=-0.3%, b=0.3%
The fund rate is calculated every minute. When the fund fee is collected, the fund rate calculated one minute before the last settlement time is collected.
For example, when the settlement time is 16:00 (SGT), the fund rate calculated at 07:59 (SGT) is used to collect the fund fees.
When collecting fund fees, it will be deducted directly from the user's account rights and interests. Please control the account risk rate to prevent the occurrence of strong equality of positions. The Platform for Equality of Warehousing Strength Caused by Collecting Funds Fees shall not bear any responsibility.
KKcoin does not charge any fund fees, which are charged between users.