# Contract Specifications Perps mirror spot prices and denomination (the perp contract and the spot asset have similar values). Convergence is tethered through peer-to-peer hourly funding. Perps are quoted against USDT. The margin required to open a contract is determined by the leverage factor. The collateral required to maintain the position is half of the initial margin fraction at maximum leverage.

Symbol	Tick Size	Leverage	Initial Margin Fraction (IMF)	Maintenance Margin Fraction
BTC	0.1	50x	2%	1%
XAU	0.1	50x	2%	1%
ETH	0.1	40x	2.5%	1.25%
SOL	0.01	40x	2.5%	1.25%
XRP	0.0001	40x	2.5%	1.25%
MSTR	0.1	40x	2.5%	1.25%
AVAX	0.001	20x	5%	2.5%
TRY	0.00001	20x	5%	2.5%
LINK	0.01	20x	5%	2.5%
BNB	0.1	20x	5%	2.5%
HYPE	0.001	20x	5%	2.5%
SUI	0.0001	10x	10%	5%
CRO	0.00001	10x	10%	5%
PENGU	0.000001	10x	10%	5%
DOGE	0.00001	10x	10%	5%
1000PEPE	0.000001	10x	10%	5%
ZEC	0.01	10x	10%	5%
AAVE	0.01	10x	10%	5%
FARTCOIN	0.0001	10x	10%	5%
WLFI	0.00001	5x	20%	10%
ASTER	0.0001	3x	33.3%	16.7%
MON	0.000001	3x	33.3%	16.7%