Questions about finex funding _ bitcoinmarkets bitcoin prize

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I have only been margin trading for 5 months and I have learned alot, but I cant figure these ?’s out despite looking@ the loan page.

I also took out a small loan in btc for 7 days, months ago, and it appeared it never even got used in a position, when i opened a position, it used the auto loan rate, and didnt appear to use my reserved loan in btc. Maybe because the loan was not enough or even near enough to cover the position, but…

1a) if I am doing daily funding on a margin position, it auto re-takes out a loan for me every 24 hour period, correct?

1b)IF I get screwed and my auto reloan is taken out at a bad time, when the price for a loan is high, am I stuck paying that high rate for the entire 24 hours, even when the loan rate drops back down 4-5 hours after i am taking out that loan?Bitcoin prize

1C) if that is the case and I am locked in to each rate for 24 hours, does it make sense to close a position and re-open that position when the funding rate has gone to a better level for borrowing?

2) also, since I trade in BTC only, am I being charged the USD loan rate or the btc loan rate?

3) if I lock in a loan for 30 days, using bitcoin, does it automatically use those funds when I open a position? Or is there a setting I need to do?


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1a) daily simply means that your unrealized funding cost is debited at the end of the day. Toggling it to term would mean that unrealized funding cost accrues over the lifetime of the position and is debited once the position is closed.

Your borrowed funding expires and is returned to the lender based on the parameters set by the lender, or if the position is closed by you and returned.Bitcoin prize you can also select to keep the funding you have after closing a position, as long as it is still within the time frame the lender set.

Daily vs term funding

1b) no, you can visit the funding page and review your taken funding. There are checkboxes to the right of each loan you have taken. These checkboxes allow you to close specific loans that you may not want to keep based on prevailing interest rates.

Traders commonly browse the funding page while they have open positions to review the current offer rates and decide whether or not to close one or multiple taken offers. Once you close a loan from this page, the system will automatically reserve the necessary funding at the prevailing rate.

Alternatively, you can handpick the funding you want, then close your current funding and the system will automatically check your reserved funding prior to automatically reserving funding at the prevailing rate.Bitcoin prize

1c) not based on the answer to the previous question.

2) if you borrow USD, you pay the funding cost to the funding provider in the equivalent value of USD at the agreed upon USD funding rate. If you borrow bitcoin, you will pay the funding provider in BTC.

3) if you are going to short BTC, then the system will automatically check your BTC reserves in your margin wallet before borrowing any additional BTC funding that may be necessary to open the BTC short.

If you were to long BTC, you would need USD to buy the BTC from the order book. In this instance, the system would check for available USD in your margin wallet prior to automatically reserving the USD necessary to open the position.

Closing funding w/ an open margin position

If you need more detail, you can always open a ticket, then private message me either your ticket number or username and I can show you firsthand through the platform.Bitcoin prize

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