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Update Futures trading rules and funding mechanisms
10/10/2023

Dear Nami community,

In order to satisfy the trading needs of users and adapt to recent market developments, Nami Exchange will make adjustments to adjust trading rules and apply new funding mechanism from 2023-10-12 08:00 (UTC).

Open positions will not change to new trading volume limit and maximum leverage, but only apply the new funding mechanism. Users need to carefully monitor their positions to avoid unnecessary risks.


1.Update Futures Trading Rules

From 2023-10-12 08:00 (UTC), Nami Exchange adjusted trading rules, including increasing Maximum Trading Volume and Maximum Leverage for multiple trading contracts.

Notable adjustments: Trading contracts with ETH increased maximum trading volume with limit orders to 5 billion VNDC, 5 billion VNST and 250,000 USDT; trading contracts with BCH, ETC, LINK, XRP, ADA, DOGE, LTC increase maximum leverage to x75, increase maximum trading volume to 2 billion VNDC, 2 billion VNST and 100,000 USDT; trading contracts with TRX, ATOM, VET, NEO, MKR, AVAX, MATIC, AXS, SAND, 1000SHIB, MASK, DYDX, GALA, APE, OP, UNI, WLD, FTM, MANA, CFX, ARB, SUI, SOL , APT, LDO increased maximum leverage to x50, increased maximum trading volume from 1 billion VNDC, 1 billion VNST, 50,000 USDT to 2 billion VNDC, 2 billion VNST, 100,000 USDT depending on each contract...

Users can follow the detailed Trading Rules are updated in the Information section for each trading contract or follow trading rules of all contracts here.

Important notice:

  • In order to quickly and promptly inform users, Nami Exchange will apply the display of information about changes to trading rules directly at the trading interface on the website and mobile application before applying.
  • There will be a certain delay between the direct announcement at the trading interface and the official announcement on the Nami Exchange information page.
  • All information about trading rules is continuously updated over time. Users please refer to the detailed information of each trading pair before proceeding to trade.

At the same time, from 2023-10-12 08:00 (UTC), Nami Exchange will adjust the funding interval from 8 hours to 4 hours for Futures trading contracts of assets IMX, LPT, API3, HIFI, NMR, TRB, BLZ, DODO, STMX, CYBER, YGG, UNFI, FLM, PERP, AMB.

Funding Time with each interval:

Funding Interval

Funding Time (UTC)

8 hours

0, 8, 16

4 hours

0, 4, 8, 12, 16, 20 

2 hours

0, 2, 4, 6, 8, 10, 12, 14, 16, 18, 20, 22

1 hour

0, 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23


2.New funding mechanism

In order to better adapt to market developments and balance actual trading status on Nami Exchange, from 2023-10-12 08:00 (UTC), Nami Exchange will apply a flexible funding mechanism and funding rate cap for all Futures trading contracts.

Specifically:

  • Nami Exchange will apply the funding rate cap of (+)/(-) 3%, this maximum funding rate will be different for each trading contract, users can track it in the Information section of each contract.
  • For each trading contract, 02 different funding rates will be applied to 2 trading directions: the basic funding rate is referenced from major exchanges and the flexible funding rate for the opposite direction is calculated based on the actual trading volume ratio at funding time.
  • The actual trading volume ratio across all trading contracts of an asset will be aggregated every 10 seconds and announced in the Funding Information section of each trading contract and published in the Real-time Funding Information and Funding History section of each trading contract. Track all funding rates here.
  • The flexible funding rate is only determined at the time of funding payment after synthesizing the entire trading volume for the last time and determining the basic funding rate, hence there may be a certain difference with the estimated flexible funding rate shown previously.
  • Formula to calculate flexible funding rate:

Flexible funding rate = |Basic funding rate| x Ratio of trading volume from the side paying / trading volume from the side receiving


Important notice:

  • No matter the Long Short trading volume ratio, the flexible funding rate does not exceed the absolute value of the basic funding rate
  • 02 Funding rates will have approximately the same absolute value when the trading volume on the paying side is greater than or equal to the trading volume on the receiving side at the time of payment.
  • The first funding time to apply the new funding mechanism is 2023-10-12 08:00 (UTC)

Illustration of the interface displaying information about trading volume and the 2-side Long / Short funding rate with the Long rate displayed in blue and the Short rate displayed in red:


For example:

1.The trading contract X/USDT has basic funding rate of 2 %, actual Futures Trading Volumes cross the whole Nami Exchange at the funding time are 1,000,000 USDT of Long and 2,000,000 USDT of Short (The ratio of Paying / Receiving = 1/2)

  • The Long side (paying funding) will pay a funding fee at basic funding rate of 2% and funding value of 2% x Trading volume of open positions
  • The Short side (receiving funding) will receive funding at flexible funding rate of 2% x 1/2 = 1% and the funding value of 1% x Trading volume of open positions

2.The trading contract X/USDT has basic funding rate of 2 %, actual Futures Trading Volumes cross the whole Nami Exchange at the funding time are 2,000,000 USDT of Long and 1,000,000 USDT of Short (The ratio of Paying / Receiving = 2)

  • The Long side (paying funding) will pay a funding fee at basic funding rate of 2% and funding value of 2% x Trading volume of open positions
  • The Short side (receiving funding) will receive funding at flexible funding rate of 2% and the funding value of 2% x Trading volume of open positions

Best regards,


Further information:


Best Regards,

Note: Nami reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.

Risk Warning: Futures trading carries substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movements. The information here should not be regarded as financial or investment advice from Nami. All trading strategies are used at your discretion and your own risk. Nami will not be liable to you for any loss that might arise from your use of Futures.


About Nami Exchange

Nami Exchange is a trading platform belonging to the Nami Foundation ecosystem that enables dynamic trading and effective investing through its Spot and Futures trading systems, which offer a wide selection of nearly 700 trading pairs, support leverage up to x125, and 24/7 live support in Vietnamese & English.
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Website: https://nami.exchange/

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