How do I calculate borrowing interest?

When engaging in margin trading under a unified trading account, if a liability is incurred, interest will accrue, and there is no interest-free quota.

However, in unified trading account futures trading, unrealized profits and losses generated in a multi-currency mode have an interest-free quota. Liabilities within this limit do not incur interest. If the liability exceeds the interest-free quota, interest will be charged on the amount that exceeds it. Liabilities generated under cross margin and isolated margin will be calculated and deducted separately.

1. Interest-free quota

2. Interest calculation and deduction

Interest calculation time: Recorded every hour on the hour.

Interest deduction time: Recorded every hour on the hour.

Debts incurred under cross-margin and isolated-margin positions will accrue interest and be deducted separately for each margin type.

Interest on borrowed funds is calculated based on the customer's interest-bearing liability and is recorded every hour on the hour, starting from 0:00. For example, if a customer borrows crypto at 22:55, no interest is recorded at that time. At 23:00, the customer's interest is calculated based on the interest-bearing liability, and the interest is deducted at 23:00. If the customer repays the borrowed cryptos at 22:57, that borrowing will not incur any interest.

3. Interest rate

Account tier and daily interest rates for each cryptocurrency can be viewed in the app:

Account tier: Go to the top left corner of the Homepage, select Profile > My fee tier

Loan rate: Top right corner of the Trading page, Market info > Leverage lending.

Whenever a liability is generated, regardless of the type of transaction, the interest is calculated as liability * daily interest rate of the currency / 24 = interest for that hour.