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.
Contract specifications
| 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% |
| Expiration | Never Expires |
| 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) |
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