Skip to main content
Your balance changed and no trade explains it. If you were holding a position through a funding settlement, this is almost always why. Check Funding History at the bottom of the trading screen — every payment is recorded there with its rate and the position it applied to.

​
What funding is

A perpetual has no expiry, so nothing forces its price to converge on the underlying’s price. Funding is the mechanism that does that job: a periodic payment between traders that makes it expensive to be on the crowded side. It is not a fee. The protocol takes no share. It is a transfer from one side of the market to the other, which is why it can be income: A positive rate means the perpetual is trading above the index, so longs are paying for the privilege of being long — which pulls the price back down. That is the mechanism working as designed.

​
Am I about to pay it

The market header shows the current rate and a countdown to the next settlement. Market header, with the funding rate and countdown at position 5 Read 5. If the rate is positive and you are long, you will pay at the countdown. If you are short, you will receive. You are only charged if you hold the position at settlement. Opening and closing between settlements costs no funding at all. Holding across one costs the full payment — there is no proration for holding half the interval.

​
How much

funding payment=position size×mark price×funding rate\text{funding payment} = \text{position size} \times \text{mark price} \times \text{funding rate} Note it is based on position value, not on your margin. A 10,000positionpaysthesamefundingwhetheryoubackeditwith10,000 position pays the same funding whether you backed it with 500 at 20× or $5,000 at 2×. At high leverage, funding is proportionally much larger relative to the collateral at risk. The rate is bounded by a per-market cap, so a single settlement cannot be arbitrarily large. See Funding for how the rate is built.

​
Why the amount looks wrong

It used the mark price, not your entry. Funding is charged on the position’s current value, which moves. The rate changed. The rate shown in the header is the current estimate. The rate applied is the one at settlement. You hold positions in several markets. Each settles on its own schedule with its own rate. Funding History separates them. You were charged on both legs. In hedged mode, a long and a short in the same market each pay funding independently, and the two do not cancel. If your net exposure is zero, you are paying twice for nothing — see Close a position.

​
When it is worth a ticket

Funding is deterministic — same rate, same position, same answer — so a genuine error is rare. It is worth raising if the amount in Funding History does not match the formula above using the rate recorded on that entry, or if you were charged for an interval where you held no position. Include the market, the settlement timestamp, the rate shown, your position size, and the amount charged. Send it to contact@intention.xyz.

​
Where to go next

Funding

How the rate is constructed and capped.

Positions and history

Finding the payment in Funding History.

Fees

The cost that does go to the protocol.

Close a position

Stopping funding entirely.