Perpetual Engine Series Part 3: Funding Rates

In Part 2 , we built the "heartbeat" of our engine: PnL Calculation . We ensured that every price tick accurately updates a trader’s equity with decimal precision. But a market cannot survive on price action alone. Without an anchor, the price of a perpetual contract would drift aimlessly away from the actual value of the underlying asset. That anchor is Funding Rates . It is the regulatory mechanism that ensures the perpetual market remains fair, balanced, and tethered to reality. Here is how I