Backpack introduces +11% APR benchmark interest rate to perpetual contract funding rate mechanism, which is beneficial to hedging trading strategies

Odaily News Starting from May 13 (Monday), Backpack Exchange announced the introduction of a unified +11% annualized benchmark rate in the funding rate calculation formula for its perpetual contracts. This update is designed to align with the funding rate structure of mainstream derivatives exchanges in the industry, while enhancing the overall liquidity and trading activity of the market.
The new mechanism does not change the original calculation logic of the funding rate, but further optimizes the funding rate environment by artificially setting a continuous positive deviation. It is particularly beneficial to Delta-neutral strategy participants and provides them with a more attractive funding rate arbitrage space.