The index price calculation on Gate is also an industry-wide problem—it’s essentially a workaround that was forced up in the absence of a spot market.

Very well-intentioned, but there’s always a “big brain moment.”

In total, there are three index sources. As the futures market got dumped, the spot price was actually excluded, and in the end it only reduced the extent to which the funding rate turned negative.

The product manager hurried to submit requirements, demanding that at the very least, the effect price at the time of opening should match the index components, hahaha.