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Regarding FIL3X and FIL3SManagement Fees Adjustment

2020-10-17 19:21:17Read:15489

Gate.io has added supports for FIL 3X leveraged ETFs, FIL3X and FIL3S. The ETFs are managed and hedged in the perpetual contract markets. As the FIL/USDT perpetual contract funding rate has now increased to about 6% daily, the 0.1% management fees charged on the FIL3X and FIL3S are far from covering the daily funding payment. As a result, Gate.io will adjust the management fees for FIL3X and FIL3S; the new schedule will be as following:

1) FIL3S management fee will increase from 0.1% to 3% daily ( management fee will be deducted from the NAV directly )

2) FIL3L management fee will increase from 0.1% to - 3% daily ( fee rebate will be credited to the NAV directly )

3) The management fees will be deducted or credited at 0:00 UTC+8 every day, which will affect the NAV but will not have any impact on the ETF token position. The new schedule will take effect starting from the next re-balancing.


When the funding rate at FIL perpetual contract markets return to normal levels, we will adjust the management fees again. Please be aware, if the funding rate further increases in the future, we may have to adjust the management fees for ETFs again.
For any users affected, please fully understand the ETFs’ mechanism and adjust your position according to your demand before re-balancing. Learn more about the ETFs at https://www.gate.io/en/help/trade


Trade FIL3L at https://www.gate.io/trade/FIL3L_USDT
Trade FIL3S at https://www.gate.io/trade/FIL3S_USDT

About Leveraged ETF
The leveraged ETF product re-balances to 3X leverage every day following the profit and loss. Profit will be used to expand position while the loss will lead to decrease the position. When trading with ETFs, you do not have to pay a margin, you can simply buy and sell it to enjoy increased exposure like you are trading with leverage. ETF products are managed and hedged in the perpetual contract market. We charge management fees daily to compensate for the funding payment and trading fee which is incurred at perpetual contract markets. No extra funding fee is charged. By optimizing the fund management, the cost and risks for you to get leveraged exposure are significantly reduced.
Please note, 3X leveraged ETF does not mean that the price should be 3 times of the underlying coin. The ETF price is related to its profit and loss following the market price changes. Please pay attention to the net asset value displaying to you when trading. Leveraged ETFs are highly volatile and are of high risk. Please trade within your financial capacity.


Gate.io Team
October 17th, 2020
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