Hello everyone
BKEX.com using various tactics to defraud users' assets in 2023. they manipulated Future contract funding fee, As most of you know you have to pay funding fee every 8 hour But Bkex has increased fundiing fee up to 2000% EVERY 8 Hours, they also banned me from their telegram chat. Here is an example:
Binance Normal funding fee is 0.01% every 8 hours But Bkex increased it to 0.1 % every 8 hour or even more. Difference between 0.01 and 0.1 is 1000%
Example if you open 9000$ a long position on binance with 5x Leverge, you pay 4$ every 8 hour = 12 $ perday. Normal
If you opened the same amount on BKEX they take 40 $ every 8 hour = 120$ per day, somedays even more.
Stay Away from this exchange.
BKEX.com using various tactics to defraud users' assets in 2023. they manipulated Future contract funding fee, As most of you know you have to pay funding fee every 8 hour But Bkex has increased fundiing fee up to 2000% EVERY 8 Hours, they also banned me from their telegram chat. Here is an example:
Binance Normal funding fee is 0.01% every 8 hours But Bkex increased it to 0.1 % every 8 hour or even more. Difference between 0.01 and 0.1 is 1000%
Example if you open 9000$ a long position on binance with 5x Leverge, you pay 4$ every 8 hour = 12 $ perday. Normal
If you opened the same amount on BKEX they take 40 $ every 8 hour = 120$ per day, somedays even more.
Stay Away from this exchange.
I'm well aware of the funding fee because I'm using it to get a micro profit based on the trend. What I don't understand is why in the hell they will charge 2000% every 8 hours. It's like you already owed the exchange with these charges because beyond your capital. Maybe you are confused about your unrealized PnL resulting from your high-leverage trading losses because sometimes the funding rate can give a huge impact on your position if you are at lose with high leverage.
I'm not familiar with BKEX which normally I agree with your accusation but your percentage figure doesn't make sense at all because your position will automatically liquidated when they charge that kind of fee.