Funding settlement is a periodic payment made between long and short positions holders based on the prevailing funding rate.
Funding settlements are made every 8-hour interval at 7:00 WIB, 15:00 WIB, and 23:00 WIB. If the funding rate is positive, traders with long positions will pay those with short positions. If the funding rate is negative, traders with short positions will pay traders with long positions.
Users will only pay or receive funding if they have a position when the settlement happens. You will not pay or receive funding if you close your position before the funding settlement.