Contract definitions for the EMX LINK (ChainLink) Perpetual Swap contract.
A Perpetual Contract 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 exchange traded LINKUSD Perpetual Contract prices with underlying spot LINKUSD prices.
|Underlying Index||EMX LINKUSD Index (Using prices from Binance)|
|Contract Size||1 LINK (Every point move of the contract is equal to $1)|
|Minimum tick size||0.0005|
|Initial Margin||4.00% + 0.10% per 1000 LINK increase in position size (25x max leverage)|
|Liquidation Level||50% 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 0.05%. Maker rebate of -0.025%. Liquidation fee of 0.25%, which is added to the insurance fund. Fee discounts for Volume and EMX holdings are described here.|
|Position Limit||100,000 Contracts|
|Price protection||+- 5% for Market Orders; +6% for Buy Limit Orders; -6% for Sell Limit Orders|
|Trading Hours||24 hrs/day, 7 days/week, 365 days/year (excluding maintenance)|