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A position will enter liquidation when the total allocated margin for the position, along with its unrealized profit and loss (PnL), falls below the required maintenance margin.
The unrealized PnL is calculated based on the current mark price, which can vary from the actual realized PnL after closing the position. The difference between the two depends on the difference between the mark price and your average exit price.
Is futures trading conducted through automated market makers (AMMs) or liquidity providers (LPs), or is it limited to order books?
Currently, futures trading on Demex is limited to centralized limit order books (CLOB). However, the platform has plans to introduce automated market makers (AMMs) and liquidity providers (LPs) in the near future.
Your position will be automatically closed and settled at the settlement price, at the time of expiry.
The settlement price is the Time Weight Average Price (TWAP) of the index price during the 30 minutes leading up to the contract's expiry.