If you keep a position open past the cutoff time of 07:00 UTC (14:00 WIB), Tokenomy needs to apply costs associated with maintaining your position. This is known as an overnight fee.
Overnight fees are calculated based on your position size:
Overnight fee (p.a.): Size * Contract amount * Mid price * Overnight fee rate
The following are the current overnight fee rates:
| SYMBOL | LONG (P.A) | SHORT (P.A) |
| ETH/USDT | placeholder% | placeholder% |
| BTC/USDT | placeholder% | placeholder% |
“Mid price” means the average between the buy and sell prices, as recorded at the daily cutoff time. If a position is closed before the cutoff time, overnight fee will not be incurred.
As illustration, if a user keeps a SELL position open on the BTC/USDT symbol past 07:00 UTC with the following specifications:
Size: 2000 contracts
Contract amount: 0.001 BTC
Buy price: 27,300 USDT
Sell price: 26,500 USDT
Therefore, the overnight fee is calculated as such:
Overnight fee (p.a.): 2000 * 0.001 * (27,300+26,500)/2 * 13% = 6994 USDT
Calculated daily, this amounts to 19.16 USDT per day. If the user keeps the position open for three days, assuming the prices remain constant, they would be incurred 57.48 USDT.
Our overnight fee rates may vary depending on your position and may change without prior notice based on market conditions. Overnight fees are part of trading CFDs and not unique to Tokenomy.