Every number

The engine reads these from one configuration; the docs read the same values, so this page cannot drift from the product.

Markets and index#

Markets at launch

10, one per roster trader

Quote asset

USDC

Index window

7 days, rolling

Sample interval

1 second on the built-in feed, 30 seconds on a polled feed

Price history

one-minute bars, kept for the window plus a day

Median filter

5 samples

Denominator floor

$1,000 deployed

Price mapping

100 + index %, floor 0.01

Tier recalculation

weekly, realised daily vol from hourly closes

Trading#

Price discovery

virtual AMM, $100,000,000 virtual quote per market

Mark price

index × (1 + premium), re-anchored every 1 second and before every fill

Skew premium

±0.5% at most, full at $1,000,000 net open interest

Taker fee

0.05%

Maker fee

0.02%

Minimum order

$10

Maximum order

$5,000,000

Max slippage

3% terminal default, 8% when an API order omits it

Open interest cap

max($50,000,000, 10 × trader equity)

Time in force

GTC, IOC, post-only

Margin and liquidation#

Margin mode

isolated; a long and a short may be open at once on a market, each with its own margin

Leverage tiers

100x / 50x / 25x / 10x / 5x

Maintenance margin

half of initial margin at the tier's maximum

Liquidation price source

index (oracle), never the mark

Liquidation fee

1%

Shortfall

absorbed by the insurance fund

Margin removal

capped at the tier's maximum leverage on equity

Margin addition

capped at 1x

Funding#

Interval

1 hour, on the hour

Rate

TWAP premium of mark over index

Cap

±0.5% per hour

Payment

notional × rate, from or to isolated margin

Demo and listing#

Demo balance

$100,000

Equity sampling

every 5 minutes, 30 days retained

Inactivity delisting

30 days without a trade

Settle-only window

72 hours

Trader rev share (live)

10 to 20% of market fees, founder decision pending

Numbers marked as founder decisions are placeholders until set; everything else is live in the engine today.