Contract definitions for the EMX USD/BRL Perpetual Swaps Contract.
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 USDBRL Perpetual Swap prices with the underlying USD/BRL markets.
|Underlying Index||EMX USDBRL Index|
1 USD (Every point move of the contract is equal to 1 Real)
|Minimum tick size||0.0001|
|Initial Margin||1.00% + 0.50% per 10,000 Contract increase in position size (100x max leverage)
Formula: Initial Margin = 1% + (Position Size in Contracts * 0.00005%)
|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%|
|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||300,000 Contracts|
|Price protection||+- 5% for Market Orders; +6% for Buy Limit Orders; -6% for Sell Limit Orders|
|Trading Hours||UTC 12:15 - 21:00 Monday to Friday|