ZUBR Perpetual Contracts
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 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
| Instrument | BTCUSD | ETHUSD | ETHBTC |
|---|---|---|---|
| Settled in | BTC (Bitcoin) | ||
| Contract size | 1 USD | 0.000001 BTC per 1 USD price of the contract | 1 ETH |
| Price step | 0.1 | 0.01 | 0.00001 |
| Trading hours | 24 hours 7 days per week | ||
| Funding period | Every 5 minutes | ||
| Max leverage | 20x | 10x | 10x |
| Maker/Taker fee | Only 0.01% or 1 basis point | ||
| Price Band | Mark 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 | IML (%) | PLML (%) | FLML (%) | |
|---|---|---|---|---|
| BTCUSD | 100 | 5 | 2 | 1 |
| BTCUSD | 200 | 7 | 4 | 2 |
| BTCUSD | 300 | 9 | 6 | 3 |
| BTCUSD | 400 | 11 | 8 | 4 |
| ETHUSD | 50 | 10 | 2 | 1 |
| ETHUSD | 100 | 12 | 4 | 2 |
| ETHUSD | 150 | 14 | 6 | 3 |
| ETHUSD | 200 | 16 | 8 | 4 |
| ETHBTC | 50 | 10 | 2 | 1 |
| ETHBTC | 100 | 12 | 4 | 2 |
| ETHBTC | 150 | 14 | 6 | 3 |
| ETHBTC | 200 | 16 | 8 | 4 |
IML — Initial Margin Level
PLML — Partial Liquidation Margin Level
FLML — Full Liquidation Margin Level
