Hi It's Unicorn

You can regard the funding ratio as a kind of tool that periodically adjust to minimize the gap (Nav%) between the price of the exchange and the spot price (the global average price).

✓ Bybit funding fee is exchanged directly between buyers and sellers every 8 hours at 01:00 / 09:00 / 17:00 in Korean time.

✓ When the funding rate is (+), those who hold long position pay the short position holders.

✓ When the funding rate is (-), those who hold short position pay the long position holders.

✓ If your positions are entirely closed within the specified time above, you will not pay or receive funding fees.

➢ The above funding rate 0.01% indicates that trader will pay or receive in 3 hours.

➢  Funding Fee = Position Value x Funding Rate

➢ Click “Funding rate history” and you can see the historic funding rates here.