Gate Scheduled Perpetual Contracts (USDT & BTC Margin) Upgrade ( 04 July, 16: 00-17: 00 UTC)

Gate is going to upgrade and optimize the USDT & BTC margin perpetual contracts from 16:00 - 17: 00 UTC on 04 July, 2023. The upgrade will take about 60 minutes and partial service will be unavailable during the process. There might be trading interruption (about 1 second) and query interruption (about 1 second) on all affected contracts during the process. If you are an affected trader and API user, please adjust your strategies beforehand.

Affected services:
All USDT &BTC margined perpetual contracts

Major changes
Changes to premium formula for the funding, replacing mark price with index price for premium formula

Before
Premium Index = [ Max (0 , Depth Weighted Bid Price - Mark Price) - Max (0 , Mark Price - Depth Weighted Ask Price) ] / Index Price

After
Premium Index = [ Max (0 , Depth Weighted Bid Price - Index Price) - Max (0 , Index Price - Depth Weighted Ask Price) ] / Index Price

Please pay attention to the changes to the funding.

Thank you for your understanding and continued support.

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Gate Team
July 3, 2023