Contract definitions for the EMX US500 Perpetual Swap contract. It tracks the 500 largest and most liquid stocks in the US.
A Perpetual Swap is similar to a future, however, it does not have an expiration date. EMX employs funding payments every 8 hrs between buyers and sellers of the contract to align EMX traded US500 Perpetual Swap prices with the underlying spot price.
|Underlying Index||EMX US500 Index|
|Contract Size||1 US500 Contract (Every point move of the contract is equal to $1)|
|Minimum tick size||0.25|
|Initial Margin||1.50% + 0.25% per 1 contract increase in position size (67x max leverage)|
|Liquidation Level||75% of Initial Margin|
|Funding||Funding is paid every 8 hours to only those holding positions at 04:00, 12:00, 20:00 UTC time. If positive, longs pay the shorts; If negative, shorts pay the longs.|
|Mark Price Band||0.5%|
|Fees||Taker fee of 0.035%. Maker rebate of -0.0125%. Liquidation fee of 0.25%, which is added to the insurance fund. Fee discounts for Volume and EMX holdings are described here.|
|Position Limit||100 Contracts|
|Price protection||+- 5% for Market Orders; +6% for Buy Limit Orders; -6% for Sell Limit Orders|
|Trading Hours||UTC 22:00:10 Sunday - UTC 20:15:00 Friday (closed daily from 20:15-22:00:10 UTC)|