Interest rates for your Margin positions(all negative balances) are calculated on an hourly basis at the bottom of the hour. If you have borrowed for less than 1 hour, the interest rate will still be calculated as if Virtual Assets are borrowed for 1 hour.
If the daily interest rate is 0.052% per day, the hourly interest rate is 0.00216667% (Hourly Interest = Daily Interest / 24)
Interest = Borrowed Virtual Assets * (Hourly Interest Rate) * (Time in Hours)
If a user borrows 1,000 USDT at 12:05 PM and repays at 14:15 PM, the interest owed is 0.06501 USDT.
Interest = 1,000 * 0.00216667% * 3
Interest = 0.06501
You can find a schedule of the latest interest rates that we charge for each type of Virtual Asset here.
You may also enjoy discounts on the interest rate charged based on the amount of CRO that you have staked on the Exchange. You may learn more about CRO staking and its benefits here.