TJ-Bitmex Funding Rate

Welcome back to another indicator of the TJ-Series

All indicators I publish, are based on existing indicator ideas just modified and in the selection of a CryptoCurrency Day Trader

This indicator emulates BitMEX funding rates with reasonably accurate results.

I have made a YouTube Video on my channel "TJ Trade Corner" explaining Funding Rates and how each of them work and what these are based on.

There is a google form link in the description, which when filled out correctly will grant you permission to this indicator.

BitMEX funding occurs every 8 hours at 4:00 UTC, 12:00 UTC and 20:00 UTC.
You pay the funding rate if you are in a position at funding time.
The funding rate is predicted from the minute funding occurs over 480 minutes (8 hours).
After 8 hours, which is another funding time, the predicted rate is set as the next funding rate, which will be paid 8 hours later at the next funding time.
For example:
It is 4:00 UTC and funding is paid, and there is currently a predicted rate of 0.01.
The predicted rate, 0.01, will be set as the next funding rate which will be paid in 8 hours at the next funding time.
The predicted rate resets and will become a more accurate prediction each minute.

Funding Rate Bar: On the bar on which funding is paid (see funding times), a column is rendered with the value of the paid funding rate.
Next Funding Rate: The rendered circles show the next funding rate, which will be the value of the Funding Rate Bar
Predicted Funding Rate: The rendered line is the predicted funding rate that resets when funding is paid.

Daily, Weekly, and Monthly views show the total of fundings within the bar.
i.e. a daily bar contains 3 funding periods, so if funding were 0.1 each of those times, the daily funding is 0.3.
There are 21 funding periods in a week, so a week during which the funding was 0.1 on average will have a Weekly bar with a funding value of 2.1


PRINTED VALUES

Predicted Funding Rate | Next Funding Rate | Funding Rate Bar


OPTIONS

Contract: Choose the BitMEX perpetual swap contract for which to emulate funding. XBTUSD or ETHUSD


This Indicator and the video have been published before in my private learning group "ETG".
We are going over many observations and possible trades very frequently.
It is meant for only those who are really interested in becoming a self sufficient trader and learning about all the secrets of trading.

Should you be interested in ETG or the indicators I use, join my discord channel and say hi in chat, then I will give you a free trial for which you might be interested.

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Cheers TJ