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 |
| Contract Size |
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% |
| Expiration | Never Expires |
| 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 |
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