docs: fix funding rate clamp, payment formula, and market order clearing price#217
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GeorgeTsimos
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Jun 4, 2026
GeorgeTsimos
commented
- `perpetuals.md`: Funding rate clamp lower bound corrected from `0` to `−max_funding_rate` — the formula contradicted the text below it which already described negative rates.
- `perpetuals.md`: Funding payment formula now includes `× (elapsed / funding_window)` — the proration factor was missing, making the formula independent of batch duration.
- `orderbook.md`: Added a paragraph after the clearing algorithm explaining that market orders don't influence the clearing price, and what happens when only one side has a limit order at the margin or no limit orders were matched at all.
…ing price - funding_rate clamp lower bound was 0; corrected to −max_funding_rate so negative rates (shorts pay longs) are represented accurately - funding_payment formula was missing the (elapsed / funding_window) proration factor; without it the formula implied a fixed per-batch charge independent of batch duration - added a paragraph to the orderbook clearing section explaining that market orders do not influence the clearing price, and what happens in the one-sided and all-market-order degenerate cases Co-Authored-By: Claude Sonnet 4.6 <noreply@anthropic.com>
majesticwizardcat
approved these changes
Jun 5, 2026
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