Here is the formula to calculate the system fee:
In which,
- System fee rate: 1% (set by FXCE's system)
- P: Principal
- R: 4-hour Interest rate
- T: Term
Example:
- Borrowing 1000 USDT -> P=1000
- The interest rate is 12.04%/year
- 4-hour Interest rate is (0.1204/365/24)*4 = 0.000055 -> R= 0.0055%
- Borrowing for 6 terms (24hrs) -> T= 6
- So the system fee is:
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