EMX Exchange launches new bitcoin (BTC) perpetual contract

Emxexchage

Crypto derivatives exchange, EMX, today has announced the launch of a BTC perpetual contract with up to 50x leverage to the EMX mainnet. The team mentioned they also plan to add more perpetual swaps for popular altcoins and other traditional commodities and equity indices in the near future.

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 EMX traded BTCUSD perpetual contract prices with underlying spot BTCUSD prices.

Contract Specifications

*Updated October 23rd, 2019

Underlying Index EMX BTC Index
Contract Size 1 BTC (Every point move of the contract is equal to $1)
Minimum tick size 0.5
Initial Margin 2.00% + 0.50% per 1 BTC increase in position size (50x max leverage)
Formula: Initial Margin = 2% + (Position Size in BTC * 0.50%)
Maintenance Margin 75% of Initial Margin
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 0.075%. Maker rebate of 0.03%. Liquidation fee of 0.25%, which is added to the insurance fund
Position Limit 20 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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