1. Current Overview
SUNX Quick Contract adopts a “Platform Unified Overnight Fee” model with the following features:
Applicable to: All users with open positions (long or short). Frequency: Once per day. Time: 04:00 (UTC+8) daily. Calculation: Based on Nominal Position Value × Overnight Fee Rate, automatically deducted.
This mechanism compensates the platform for liquidity risks and capital costs.
2. Arbitrage Risks and Shortcomings
Compared with major platforms (e.g., Binance) that use user-to-user funding rate systems:
Binance charges a funding rate hourly (e.g., 1.8%). If SUNX keeps a fixed overnight fee (e.g., 0.02%/day): The holding cost on SUNX becomes too low, enabling arbitrage. The platform faces long-term net capital outflow and systemic loss risk. It fails to reflect real-time market fluctuations and funding dynamics.
3. Dynamic Overnight Fee Mechanism
SUNX will reference Binance’s hourly funding rates over the past 24 hours and apply compound conversion:
f(SUNX) = (∏(1 + fᵢᴮⁱⁿᵃⁿᶜᵉ)) - 1 + ε
Where:
fᵢᴮⁱⁿᵃⁿᶜᵉ = Binance hourly funding rate ε = Safety margin (adjustable 0.01%–0.05%) f(SUNX) = Overnight fee rate effective from next 04:00
Update frequency: Once daily
Applicable period: 04:00 (UTC+8) to next day 04:00
4. Risk Control
Upper limit: 10% per day Lower limit: Minimum 0.5% platform service fee even if rate is negative Temporary adjustment: Platform may intervene under extreme volatility
5. Example
User A opens a 10,000 USDT BTC long position on July 8 at 18:00.
At 04:00 on July 9, if the overnight fee rate = 1.25%, the deduction = 10,000 × 1.25% = 125 USDT.
If the user closes before 04:00, no fee applies.
6. Scope and Effective Time
Applies to all SUNX Quick Contracts Excludes perpetual and options contracts Effective per official announcement
7. Notes
Plan your holding duration wisely to control costs. For details, contact Customer Support or check Help Center.
SUNX remains committed to providing a fair, transparent, and efficient trading experience.
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