1. Overview of the Current Overnight Fee Mechanism
SUNX Quick Contracts adopt a “platform-unified overnight fee collection” model with the following features:
Applicable to: All users holding open positions (both long and short) Collection frequency: Once daily Collection time: 04:00 Beijing time (UTC+8) daily Calculation method: Position nominal value × Overnight fee rate, automatically deducted by the system
This mechanism is designed to cover the risk and funding costs borne by the platform in providing liquidity.
2. Arbitrage Risks and Mechanism Limitations
Compared with major platforms (e.g., Binance) that use a “user-to-user funding rate system”:
Binance charges funding fees hourly based on long/short market imbalance (e.g., 1.8%) If SUNX keeps a fixed overnight fee (e.g., 0.02%/day), it may result in: Users having too low holding costs, creating large arbitrage opportunities Platform facing long-term net outflows, posing systemic risk Inability to accurately reflect market volatility, supply-demand, and cost dynamics
3. Dynamic Overnight Fee Adjustment
SUNX will reference the actual funding rates of the last 24 hours from major platforms such as Binance and calculate an equivalent compounding rate:
f(SUNX) = \left( \prod (1 + f_i^{Binance}) \right) - 1 + \varepsilon
f_i^{Binance} : Funding rate of hour i on Binance (%) \varepsilon : Safety buffer (adjustable by platform, default 0.01%–0.05%) f(SUNX) : Overnight fee rate applied from 04:00 the next day
Calculation frequency and application rules:
Calculation frequency: Once daily Applicable period: 04:00 of the current day – 04:00 of the next day (Beijing time)
4. Risk Control and Protection Mechanisms
Upper limit: Maximum overnight fee capped at 10% per day to ensure user cost remains manageable Lower limit: Minimum 0.5% platform service fee even if market funding rate is negative Temporary adjustment: In extreme market conditions (very high/low funding rates), the platform reserves the right to make temporary adjustments
5. Example
User A opens a long BTC Quick Contract position of 10,000 USDT at 18:00 on July 8
System deducts overnight fee at 04:00 on July 9 If the overnight fee rate is 1.25%: 10,000 × 1.25% = 125 USDT If the position is closed before 04:00, no overnight fee is charged
6. Scope and Effective Time
Applicable to all Quick Contract products on the SUNX platform Not applicable to perpetual contracts, options contracts, etc. Effective time: As per official platform announcements; users can check overnight fees and related policies at any time
7. Special Notes
Users are advised to plan their holding periods reasonably and manage costs in line with fee fluctuations For any questions, contact [Customer Support] or [Help Center]
SUNX is committed to continuously optimizing its product mechanisms to provide users with a fair, efficient, and transparent trading environment.
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