Yes. BitMEX TradFi Perps use the same funding rate mechanism as crypto perpetual swaps. Funding is paid based on traded prices and the premium index, on the same eight-hour schedule, regardless of whether it is in-hours or out-of-hours. The key difference is a neutral default funding bias, compared to the positive bias on crypto-only swaps. A 0.05% clamp applies to funding rates.
How does the funding bias differ from crypto perpetual swaps?
Unlike crypto-only swaps, which have a positive funding bias designed to incentivise shorts, the default funding bias on Equity Perps contracts is neutral.
What does neutral funding bias mean?
A neutral bias means the baseline funding rate starts at zero. Neither longs nor shorts pay by default. The actual funding rate is determined entirely by the premium index – the difference between the contract price and the fair value of the underlying equity.
Why is the bias neutral for TradFi products?
Crypto perpetual swaps typically carry a positive funding bias because the market structurally favours long positions. TradFi markets have more balanced directional positioning, so a neutral starting point better reflects the underlying market dynamics.
Are there exceptions to the neutral bias?
Yes. For stocks that mainly track crypto assets – such as digital asset treasuries like Strategy (formerly MicroStrategy) – BitMEX may introduce a positive funding neutral rate where longs pay shorts. This reflects the crypto-correlated nature of these particular equities.