Fix: Set default_funding_ppm to 0 for recently upgraded Cross markets

Proposals
1

Summary

In a previous batch proposal, several markets were successfully upgraded from Isolated to Cross. However, the default_funding_ppm parameter was not adjusted accordingly. For Cross-margin markets, the defaultFundingRate1H is 0%, while for Isolated-margin markets it is 0.00125%. To ensure consistency, we need to update this parameter to reflect the correct Cross-market configuration.

Background

During the last market upgrades, we focused on enabling Cross Margin and updating liquidity tiers but inadvertently left the default_funding_ppm values unchanged. This parameter defines the base hourly funding rate used for perpetual contracts. Leaving it at the Isolated default creates a small but persistent discrepancy that can affect funding calculations and trader experience.

Proposal

We propose to submit a follow-up on-chain proposal that:

  • Sets default_funding_ppm to 0 for all markets recently upgraded to Cross.

  • Ensures the default funding configuration matches the expected Cross-market standard.

Rationale

  • Aligns market parameters with dYdX’s standard configuration:

    • Cross-margin: defaultFundingRate1H = 0%

    • Isolated-margin: defaultFundingRate1H = 0.00125%

  • Prevents unintended funding rate drift and preserves fair trading conditions.

  • Keeps parameter settings consistent across all Cross markets for easier maintenance and transparency.

Thank you to everyone who supported the previous upgrades. This will complete the transition and ensure parameter consistency across all Cross Margin markets.

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