Binance suddenly announced on September 16 that starting from September 18 at 4:01 PM, it will completely change two core rules of contract trading: the method of calculating the funding rate and the stop-loss triggering mechanism. These two changes will directly impact your wallet, especially for users who like to use leverage, trade frequently, or rely on fixed strategies; you must understand this immediately!
1. Funding rate: suddenly increased 'borrowing interest'
Previously, Binance would calculate a 'borrowing interest' (funding rate) based on market supply and demand, settling at a fixed time each day. But now the formula has changed:
New formula = [Average premium index + Restricted interest rate fluctuation range] ÷ Settlement frequency
In simple terms, fees will fluctuate dramatically like a roller coaster, especially for popular coins (like PUMP coins).
For example:
Assuming you are going long on Bitcoin with 10x leverage, the daily interest was originally 0.05%, but under the new regulations, it could suddenly rise to 0.3%. If the price does not increase, just the interest could cause you to lose 3% in one day! Even worse, high-frequency arbitrage strategies (such as quickly buying and selling to profit from price differences) may fail due to rapid fee fluctuations, resulting in being 'reverse harvested' by exchanges.
2. Stop-loss mechanism: 'Precise strikes' within 30 seconds
Previously, Binance calculated market price differences (basis) every minute to trigger stop-losses. Now it has been shortened to 30 seconds, and they monitor the buy and sell prices every second.
What does this mean?
For example, if you set a stop-loss order at 10,000 USD, when the price drops to 10,000, the system will immediately trigger a liquidation. However, under the new regulations, the price might skip 10,000 within 30 seconds, causing your stop-loss order to miss execution, leading to actual losses much greater than expected (this is called 'slippage').
Real case:
In April 2025, a certain exchange had a basis calculation loophole, allowing users to earn 400,000 USD with high-frequency strategies. This time, Binance shortened the basis time to prevent similar incidents, but ordinary users' stop-loss orders will also be more vulnerable.
3. What should you do? 3 life-saving suggestions
1. Do not use too high leverage:
The higher the leverage, the greater the impact of fees and slippage. For instance, with 10x leverage, if the price drops by 10%, you will be liquidated. It is recommended to reduce to below 5x leverage or switch to spot trading.
2. Adjust stop-loss logic:
Set your stop-loss price a bit 'wider', for example, if it was originally set at 10,000, now set it to 9,800, allowing space for fluctuations. Also, avoid placing orders during extreme market conditions (such as in the first hour after updates).
3. Pay attention to basis changes:
The basis is the price difference between spot and futures. Previously, it might converge once a day, but now it changes every 30 seconds. For instance, the stock index futures basis suddenly fluctuated in August 2025, leading to significant losses for quantitative strategies. You can use Binance's 'basis chart' feature to anticipate risks in advance.
4. Why is Binance doing this?
On the surface, it seems like 'optimizing the experience,' but in reality, it is an upgrade of the risk control system. Since 2024, Binance has invested over 200 million USD to strengthen compliance, and this adjustment may be to cope with regulatory pressure while preventing users from being liquidated in a chain reaction during extreme market conditions, thereby protecting platform liquidity. However, for ordinary users, the game rules have changed, and they must relearn.
Final reminder: If someone around you is still using traditional strategies, please forward this article immediately! After September 18, the market will enter 'algorithm survival mode,' and only those who are prepared in advance can avoid being washed out.
