Backpack introduces+11% APR benchmark interest rate to perpetual contract funding rate mechanism, benefiting hedging trading strategy

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