# 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.

<table><thead><tr><th width="148.76953125">Symbol</th><th>Tick Size</th><th>Leverage</th><th>Initial Margin Fraction (IMF)</th><th>Maintenance Margin Fraction</th></tr></thead><tbody><tr><td>BTC</td><td>0.1</td><td>50x</td><td>2%</td><td>1%</td></tr><tr><td>XAU</td><td>0.1</td><td>50x</td><td>2%</td><td>1%</td></tr><tr><td>ETH</td><td>0.1</td><td>40x</td><td>2.5%</td><td>1.25%</td></tr><tr><td>SOL</td><td>0.01</td><td>40x</td><td>2.5%</td><td>1.25%</td></tr><tr><td>XRP</td><td>0.0001</td><td>40x</td><td>2.5%</td><td>1.25%</td></tr><tr><td>MSTR</td><td>0.1</td><td>40x</td><td>2.5%</td><td>1.25%</td></tr><tr><td>AVAX</td><td>0.001</td><td>20x</td><td>5%</td><td>2.5%</td></tr><tr><td>TRY</td><td>0.00001</td><td>20x</td><td>5%</td><td>2.5%</td></tr><tr><td>LINK</td><td>0.01</td><td>20x</td><td>5%</td><td>2.5%</td></tr><tr><td>BNB</td><td>0.1</td><td>20x</td><td>5%</td><td>2.5%</td></tr><tr><td>HYPE</td><td>0.001</td><td>20x</td><td>5%</td><td>2.5%</td></tr><tr><td>SUI</td><td>0.0001</td><td>10x</td><td>10%</td><td>5%</td></tr><tr><td>CRO</td><td>0.00001</td><td>10x</td><td>10%</td><td>5%</td></tr><tr><td>PENGU</td><td>0.000001</td><td>10x</td><td>10%</td><td>5%</td></tr><tr><td>DOGE</td><td>0.00001</td><td>10x</td><td>10%</td><td>5%</td></tr><tr><td>1000PEPE</td><td>0.000001</td><td>10x</td><td>10%</td><td>5%</td></tr><tr><td>ZEC</td><td>0.01</td><td>10x</td><td>10%</td><td>5%</td></tr><tr><td>AAVE</td><td>0.01</td><td>10x</td><td>10%</td><td>5%</td></tr><tr><td>FARTCOIN</td><td>0.0001</td><td>10x</td><td>10%</td><td>5%</td></tr><tr><td>WLFI</td><td>0.00001</td><td>5x</td><td>20%</td><td>10%</td></tr><tr><td>ASTER</td><td>0.0001</td><td>3x</td><td>33.3%</td><td>16.7%</td></tr><tr><td>MON</td><td>0.000001</td><td>3x</td><td>33.3%</td><td>16.7%</td></tr></tbody></table>


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