TRX Perpetual Contract Guide
TRON: Decentralize the Web TRON is dedicated to building the infrastructure for a truly decentralized Internet. The TRON Protocol, one of the largest blockchain-based operating systems in the world which offers scalability, high-availability, and high-throughput computing (HTC) support that serves as the foundation for all decentralized applications in the TRON ecosystem. It also provides better compatibility for Ethereum smart contracts through an innovative, pluggable smart contract platform.
You can trade TRX on BTEX through a new, innovative type of contract called a Perpetual Contract which is aimed at replicating the underlying spot market but with enhanced leverage. This product does not have an expiry date and is able to closely track the underlying reference Price Index through various mechanisms, the main of which is known as the Funding Rate.
How is the TRXUSDT Perpetual Contract Quoted?
The TRXUSDT futures’ underlying is the TRX/USDT exchange rate on Bitstamp, Kraken and GDAXYIT as recorded in the .BTEXTRX Index. The futures are quoted in USD and all margin and PNL calculations are denominated in TRX.
|BTC Contract Value||1USDT/TRXUSDT Price|
|USDT Contract Value||1 USDT|
|PnL Calculation||Contracts * 1USD * (1/Entry Price - 1/Exit Price)|
Traders who want to profit from an increase in the TRX/USDT price, will buy the TRXUSDT contract. Conversely, if they believe the price will go down they will sell the contract.
Margin and Leverage
All margin is posted in TRX, which means traders can go long or short this contract using only TRX. The TRXUSDT contract features a high leverage of up to 50x.
The TRXUSDT Index is currently being used for the TRXUSDT Perpetual Contract. The constituents are as below:
At this time, weightings are equal weighted. In the future, we may adjust this index. Any adjustments will be made with ample notification.
Marking and Settlement
As the TRXUSDT contract is perpetual, there is no settlement. Marking for Unrealised PNL and Liquidation purposes are done according to the Fair Price Marking system.
Note also: since this product is a perpetual contract, funding occurs every 8 hours. Please see the Funding Section in the Perpetual Contracts Guide for information, and for the current rates please see Funding Calculation in the TRXUSDT Contract Specifications.
TRXUSDT: Contract Specification
The base currency is TRX.
The quote currency is USDT.
TRXUSDT is a TRX/USD perpetual contract priced on the TRXUSDT Index. Each contract is worth 1 USD of TRX.
Funding is paid and received every 8 hours.
|Interest Base Rate||0.03%|
|Interest Quote Rate||0.06%|
|Funding Interval||every 8 hours|
|Next Funding||2019-04-22 12:00:00 (UTC0)|
|Auto-Deleveraging Enabled||Yes: This contract is highly speculative and manages loss through auto-deleveraging.|
|24H Turnover||218,195,824 TRX|
|Type||Settled in TRX，quoted in USDT|
|Contract Size||1 USDT|
|Settlement||This contract is perpetual and does not settle.|
|Commission||See the Fees Reference for more details.|
|Minimum Price Increment||0.00001|
|Max Order Quantity||100000|