Market Specifications
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The Market Details panel on Demex offers important market parameters for each market. This article describes each field in more detail.
The following market parameters apply to all markets.
Your staked SWTH amount determines your Fee Tier. To climb up the tiers, you can stake or hold more SWTH.
As you progress to higher tiers, your maker and taker fees decrease.
Maker fees are incurred when a trader places an order that does not fill immediately (same block as order placement or trigger). This means the order appears on the order book, thereby adding liquidity to the market.
Taker fees are incurred when a trader places an order which then fills in the same block in which it is placed or triggered. This means the order does not show up on the order book and is taking liquidity from the market.
The minimum quantity adjustment for a market. For example, a lot size of 0.1 means that 10.1 can be entered as an order quantity, but not 10.15.
The minimum price increment for an asset or contract. In other words, this is the smallest possible price change for a market. For example, a tick size of $1 means that $9 is a valid order price, but not $9.1.
The minimum amount that must be traded for a single order.
The base currency is traded in the market.
Quote Token
The currency by which the market is being quoted.
The following market parameters only apply to futures and perpetual markets.
The time which this market will expire and execute settlement of all contracts (applies to dated futures only - is set to 0 unix time for perpetuals and spot).
When an order matches at a price outside this specified bandwidth, it will be automatically cancelled (instead of being executed). This mechanism helps maintain price stability and prevents extreme price fluctuations in the market.
The minimum initial collateral ratio needed to initiate a position in this market. For larger positions, the requirement may be raised incrementally based on the Initial Margin Step.
The increment in the initial margin requirement for larger positions. Each time a position is increased by Risk Step Size, the initial margin requirement is increased by this ratio.
Each time a position increases by this size, the Initial Margin requirement will increase by Initial Margin Step.
Initial margin refers to the minimum amount of collateral required to open a position.
IMF = InitialMarginBase + (floor[PosSize / RiskStepSize] * InitialMarginStep)
InitialMargin = IMF * PosSize * EntryPrice
The minimum value of collateral needed to maintain an open position is given by the Initial Margin multiplied by this ratio. If your collateral value for the position drops below this Maintenance Margin requirement, your position will be liquidated.
Maintenance margin refers to the minimum amount of collateral required to maintain an open position.
MaintenanceMargin = MaintenanceMarginRatio * InitialMargin
Funding rate refers to the periodic fee paid between traders based on the market price and prevailing spot price.
Therefore, when the market price of perpetuals is higher than the spot price, the funding rate is positive. Conversely, when the spot price exceeds the market price of perpetuals, the funding rate becomes negative.
Funding Rate = 1 hr TWAP of ((Mark Price - Index Price) / Index Price) / 24
Funding occurs every hour, and it is important to note that there are no additional fees charged for funding. All funding payments are exchanged exclusively between holders of perpetual contracts. This creates a zero-sum funding scenario, where long positions receive funding from short positions, or short positions receive funding from long positions.
The Mark Price is the price at which the perpetual futures contract is valued during trading. Either "fair" or "last":
Max Liquidation Order Duration
Learn more .
You can reduce your maker fees (and potentially earn maker rebates) by increasing your .
You can reduce your taker fees by increasing your .
The oracle ID for the oracle that fetches the for the market.
The settlement currency for the market. Currently, all perpetual contracts on Demex are settled in .
The maximum allowable percentage difference between the and the price at which trades can be executed.
The quantity of orders on the order book that will be used to determine the .
: The mark price is determined by finding a fair price based on the orders in the order book, while ensuring it doesn't deviate excessively from the index price.
: If the oracle protocol is down or the index price cannot be updated for any reason, the mark price formulation falls back to the last traded price of the market.
This band sets the upper and lower price thresholds for the for the market. The Mark Price will never differ from the Index Price by more than this ratio (in basis points). For e.g. a value of 500 means that the Mark Price can never be more than 10% away from the Index Price.
This band sets the upper and lower price thresholds for the when the market is in mode. In this mode, the Mark Price will never differ from the Last Price by more than this ratio (in basis points). For e.g. a value of 500 means that the Mark Price can never be more than 10% away from the Last Price.
The maximum duration the liquidation engine will maintain a quote before proceeding to .
