How to calculate the system fee

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: