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BitFlyer contract calculation formula
BitFlyer's contract price formula considers mark price, premium, and funding rate, influenced by factors like asset volatility and market supply and demand.
Nov 13, 2024 at 11:51 pm
BitFlyer Contract Calculation Formula
BitFlyer is a well-known Japanese cryptocurrency exchange that has been operating since 2014. The exchange offers a variety of services, including margin trading and futures trading. In this article, we will take a look at the formula that BitFlyer uses to calculate contract prices for its futures contracts.
The Formula
The formula that BitFlyer uses to calculate contract prices is as follows:
Contract Price = (Mark Price + Premium) * (1 + Funding Rate)Where:
- Mark Price is the average price of the underlying asset over the last 24 hours.
- Premium is the difference between the contract price and the mark price. This accounts for supply and demand dynamics in the market.
- Funding Rate is a fee or payment paid periodically to keep a position open. This rate is determined by the difference in funding rates between the two parties to a contract.
Example
Let's say that the mark price of Bitcoin is $10,000 and the premium is $100. This means that the contract price will be:
$100 (Mark Price) + $100 (Premium) * (1 + 0.001 Funding Rate) = $10,101The Role of the Funding Rate
The funding rate plays an important role in the calculation of contract prices. A positive funding rate means that long positions (buyers) are paying short positions (sellers) to hold their positions open. This happens when there are more buyers than sellers, indicating rising prices. A negative funding rate, on the other hand, means that short positions are paying long positions to hold their positions open. This usually suggests falling prices.
Factors Affecting Contract Prices
In addition to the mark price and the funding rate, a number of other factors can affect contract prices. These factors include:
- The volatility of the underlying asset
- The demand for the contract
- The supply of the contract
- The risk-aversion of market participants
Conclusion
The formula that BitFlyer uses to calculate contract prices is a complex one that takes into account a number of factors. By understanding this formula, traders can better understand how contract prices are determined and how they can be used to make profitable trades.
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