thanks. I wonder if funding rates are considered Riba.
It would be good if someone can also enlighten me on this subject of leverage trading on bybit exchange.
Basically after a conversation with support team on Bybit they claim they don’t charge interest at all on their exchange for leverage trading however they do charge a funding fee which weather you are in a leverage trade or cash trade you have to pay it if you are in a open trade and the fees does not go ito Bybit.
The funding fee is not only for leverage trading but anyone who is in a open trade weather buying or selling so if the funding fee is haram then I guess trading on by bit will be also.
If anyone has some solid info weather it is haram or not please share it.
Slaam. Mufti hope you are well in sha allah.
The fees charged is funding fee weather you trade on leverage or without it you still have to pay
Bro is bybit longing/shorting halal?
I’m sorry guys but s there any solid answer for this? As I was trading with bybit for quite a while now and just thought of searching for this.
I don’t have a conclusion but if the problem is about the funding fee being halal or haram, then:
According to this video, there is a way of avoiding funding fees. The funding fee is charged every 8 hours starting from 16 UTC hence the timings of it being 16 UTC, 0 UTC, and 8 UTC. So if you get in and out of trades in between this time, you won’t have to deal with the funding fee.
Though there is one thing I don’t quite understand. Is the funding fee charged on the USDT you have in your account as well? I would appreciate it if someone could answer this. Thankyou.