DragonEx futures contract is a virtual derivative product that is settled in digital tokens USDT, DT etc. Each contract has a face value of fixed amount of digital token(e.g BTCUSDT contract has a face value of 0.1 BTC). Traders can long a position to profit from the increase of a digital asset's price, or short a position to profit from the decline of a digital asset's price. The available range of the leverage is 1-100x.
Delivery Date – Futures contracts have a fixed delivery date, and the delivery price is the arithmetic mean of the index for the preceding hour before delivery;
Mark Price - Mark price is used to calculate users' unrealized profits and losses (UPL) in order to reduce unnecessary liquidation in volatile market conditions.
Daily Settlement – a daily settlement process (at UTC 08:00) moves Unrealized PnL into Realized PnL, increasing flexibility of capital utilization.
Tiered Maintenance Margin Ratio System - Maintenance margin ratio (MMR) is the lowest margin ratio required for holding a user's current positions. When the Margin Ratio drops below the MMR plus the liquidation fee rate. The larger the position a user holds, the higher the MMR, and the maximal leverage available will be lowered effectively.
|Price Quotation||1BTC value calculated in USDT equivalent|
|Contract expirations||Weekly biweekly quarterly|
|Contract delivery time||08:00 AM(UTC), Friday of the expiry week|
|Settlement time||08:00 AM(UTC)|