Perpetual contract specifications

Vest currently supports the trading of perpetual contracts.

What are Perpetual Contracts?

Perpetual contracts are cryptocurrency derivatives that never expire. Unlike traditional futures contracts, they can be held indefinitely. Funding payments help converge the contract's price to the underlying cryptocurrency's price.

Specifications

• USDC-margined, linear 1:1 contracts

• No position or order size limits

• Margin requirements are market-specific. Check our UI or API for current values of initial margin requirements (maintenance margin requirements are half of the initial).

Mark price

• Determined by the risk-based pricing

• Stable and manipulation-resistant due to our liquidity guarantee

Index price

• Depth-weighted average of Binance, OKX, and Bybit

• In volatile periods, price bands will activate to prevent Mango-style manipulation attacks

• Used to calibrate the risk model and calculate funding payments

Isolated market specifications

Some markets are isolated from Vest’s main liquidity pool. These are backed solely by proprietary capital and typically include:

• Long-tail assets

• Assets with insufficient data for modeling

Isolated markets may eventually be merged into the main liquidity pool.