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Recently, I tried spot leverage trading with FTT for the first time. The operation process was as follows: placed a limit sell order at a price of $0.512, with a quantity of 2000 FTT. Then, I collateralized 1000 FTT as margin and borrowed another 1000 FTT from the platform.
I was a bit confused; my limit order still hasn't been filled at all, but the account position shows a loss of $2.49. This is strange. Even though the interest on the loan is charged hourly, I have only borrowed for less than an hour. How could the interest on 1000 FTT already be deducted as $2.49?
Do any experienced friends know what’s going on? Did I misunderstand the lending mechanism, or are there other hidden costs I haven't noticed?