1.What are overnight fees?
Contract positions left open overnight will incur a fee equal to a specific percentage of the position's value. The cost is an interest expense used to pay for the leverage you use overnight. It is industry-standard and reflects the supply and demand driving the market.
2.How are overnight fees charged?
1) Overnight fees are charged daily from 00:00-00:05 (UTC). If you have an open position within this period, you will incur an overnight fee.
2) Overnight fees are automatically deducted from your account. If your balance is insufficient, the system will close the position.
3.Calculation of overnight fees
MoonXBT calculates overnight fees as follows:
Overnight fee = Margin * Leverage * Overnight rate
For specific overnight rates and overnight times for each currency. Please click to view