This is one of the disadvantage of using shot coins to trade, because the funding fee can be high. I have been deducted over $200 before because of the funding fee of a shit coin on the future market.
I just tried to trade a shit coin on an exchange with $250, 1x short position USDⓈ-M Futures. The funding fee credit or debit would be in some minutes to this time.
If I close the position before the time stated, the exchange will not deduct anything?
I think the fee will not be deducted if I close the position before the next 8 hours began. What do you think?
OP with the statement Yes you won't be charged the Funding fees if you do exit before the time interval, you need to know that fees work differently on every platform there can be slightly different terms and conditions on every platform, as bid-ask spread does. So fully ensure how much a trade is costing you in terms of the fees all you need to do is go through the platform fees structure documentation. Becasue it is highly possible when you close the trade you will be charged the trading fees and if not may be there is another possibility that you've been already charged the trade fees when you open the position.
I don't know why but Paltofrm does such things