Contract definitions for the EMX USDT (Tether) 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 USDTUSD Perpetual Contract prices with underlying spot USDTUSD prices.
Contract specifications
Underlying Index | EMX USDTUSD Index (Using prices from Kraken) |
Contract Size | 1 USDT (Every point move of the contract is equal to $1) |
Minimum tick size | 0.0001 |
Initial Margin | 1% + 1% per 100,000 USDT increase in position size (100x 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 |
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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