PANews reported on October 29 that, according to an official announcement, Bybit will launch an automatic adjustment function for the settlement frequency of perpetual contract funding rates on October 30, and plans to officially roll it out across the board on November 3.

This new feature is designed to better reflect real-time market dynamics, helping traders respond more flexibly to market fluctuations without having to manually adjust their strategies.

When the funding rate of a perpetual contract reaches the preset upper or lower limit at settlement, the system automatically adjusts the settlement frequency from once every 4 or 8 hours to once per hour; depending on the specific market conditions, the settlement frequency may automatically revert to once every 2, 4 or 8 hours.

This feature applies to most perpetual contracts, but excludes some BTC and ETH contracts.