How is Interest calculated for margin lending?

Interest is calculated on a two-tier scheme. Tier 1 is initial 4 hours, which is the minimum loan duration. If your loan duration is or within 4 hours, you will pay the interest for the 4 hours.

If your loan duration exceeds the initial 4 hours, the remaining duration will be calculated on an hourly base. 

For example, if user A borrowed 2000 GT and repaid it 2 hours later at the day rate of 0.04%.  User A will pay interest as follows:

0.04%/6 x2000 =0.133 GT

if user A brrowed 2000 GT and repaid it 9.5 hours later at the day rate of 0.04%, User A will pay interest as follows:

1. initial 4 hours' fee :

0.04%/6 x2000 =0.133 GT

2.the remaining hours  (10-4) X0.04%/24 X2000=0.2 GT

User A's interest payable: 0.133+0.2 =0.333 GT

Borrowers can pay earlier at any time they want. No penalty for early repayment.

Gate.io will take 18% from the interest the lender earned.