Question about calculating margin trading interest.

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Just wondering the way to figure out how much interest you pay on a borrow? Is it the amount of coins x the percentage rate and then divided by the number of days? So if you borrow 1000usdt at 0.192 % for 28 days would that mean you would pay $6.85 for the total amount of days or is that each day?

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Posted in Kucoin Reddit

6 Comments

  1. kucoin_moderator on 15. March 2020 at 4:24

    Hi! Kindly refer to this article on [“How to Pay Interest?”](https://kucoin.zendesk.com/hc/en-us/articles/360036554573-How-to-Pay-Interest-). You may also contact our support team through our website for further assistance in regards to your concern.

     


  2. Ax-el on 15. March 2020 at 4:24

    So it would be 0.069 USD per day

     


  3. Ax-el on 15. March 2020 at 4:24

    Nope that too big

    I think ur arithmetic was wrong..

    1000×0.192%=1.92usd
    Or
    1000×0.00192=1.92 usd

    Then 1.92 divided by 28 days is equal to 0.069usd per day.

    …

    WOW FOR ME THATS A LOT OF MONEY 1000 USD HAHAHA

     


  4. Ax-el on 15. March 2020 at 4:24

    Nope thats just how interest works. 0.069 usd per day

     


  5. Ax-el on 15. March 2020 at 4:24

    Yup.

     


  6. twinkle_58 on 15. March 2020 at 4:24

    does kucoin have margin trading