Trading crypto derivatives with leverage on ZUBR involves high risks. Please refer to the Risk Disclosure to learn about the risks.

Perpetual Contracts with Up to 20x Leverage

ZUBR Perpetual is a derivative product in the form of a future contract with no expiration date. Each ZUBR Perpetual is based on its corresponding proprietary composite ZUBR Index derived from the prices of instruments traded on a number of different cryptocurrency spot markets with outliers filtered out.

To make the price of the ZUBR Perpetual closely follow the price of the underlying ZUBR Index we rely on an adjustment mechanism. If the price of ZUBR Perpetual is higher than that of the corresponding ZUBR Index, traders holding a long position will be paying a respective BTC compensation to the traders holding a short position every 5 minutes. The opposite logic applies when the price of ZUBR Perpetual is lower than that of the corresponding ZUBR Index. This price adjustment mechanism ensures that the price of the ZUBR Perpetual stays close to the underlying asset price even though ZUBR Perpetual is never actually settled.

Contracts Specification

InstrumentBTCUSDETHUSDETHBTC
Settled inBTC (Bitcoin)
Contract size1 USD0.000001 BTC per 1 USD price of the contract1 ETH
Price step0.10.010.00001
Trading hours24 hours 7 days per week
Funding periodEvery 5 minutes
Max leverage20x10x10x
Maker/Taker feeOnly 0.01% or 1 basis point
Price BandMark Price ± 5%

ZUBR Perpetual is a unique trading instrument that incorporates the advantages of both spot and futures markets, i.e. it has no physical delivery, contango or backwardation while it allows leveraged trading. ZUBR Perpetual provides а simple and solid solution for those who want to effectively trade cryptocurrencies with leverage or to hedge cryptocurrency exposure using only a small fraction of protected collateral amount.

Risk Limits

Max Risk Limit (ВТС) 
cumulative notional value in BTC
IML (%)PLML (%)FLML (%)
BTCUSD100521
BTCUSD200742
BTCUSD300963
BTCUSD4001184
ETHUSD501021
ETHUSD1001242
ETHUSD1501463
ETHUSD2001684
ETHBTC501021
ETHBTC1001242
ETHBTC1501463
ETHBTC2001684

IML — Initial Margin Level

PLML — Partial Liquidation Margin Level

FLML — Full Liquidation Margin Level

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