TradFi Markets
In addition to crypto markets, Extended currently offers perpetual contracts on the following traditional financial (TradFi) markets:
Indices:
SPX (S&P 500)
NDX (Nasdaq)
Commodities:
XAU (Gold Spot)
XAG (Silver Spot)
XCU (Copper Spot)
XPT (Platinum Spot)
NATGAS (US Natural Gas Spot)
XBR (Brent Crude Oil) - being delisted
Equities:
GOOGL
NVDA
AMZN
TSLA
AMD
MSTR
FX:
EUR
Trading Hours: All TradFi markets are available for trading 24/7, including weekends and public holidays. However, please note that spreads on these markets may be significantly wider during these periods.
Fees: Currently, TradFi markets have the same trading fees as crypto markets; however, this may be revised in the future.
Pricing Data: For index and mark prices on TradFi markets, during trading hours Extended relies on the Stork Oracle for equities and the Pragma Oracle for other TradFi assets. During non-trading hours (when TradFi markets are closed), both index and mark price are calculated as:
Last Oracle Price * (1 - Impact Mid Price Weight) + Impact Mid Price * Impact Mid Price Weight, where:
Impact Mid Price = 1-hour EMA impact mid price
Impact Mid Price Weight = min(0.1 + 0.8 * seconds since last Oracle Price / (48 * 60 * 60), 0.9)
The maximum change of index and mark price versus the last known oracle price is capped by ± 1 / (2 * max market leverage).
Funding Payments: The logic remains the same as in crypto markets, except that the Funding Rate is calculated as Average Premium / 8. The funding rate for all TradFi assets is currently capped at ~0.011% per hour (~100% annualised).
Trading Rules: Minimum Trade Size, Minimum Change in Trade Size and Minimum Price Change.
SPX
0.01 SXP
0.001 SPX
$0.1
NDX
0.001 NDX
0.0001 NDX
$1
XAU
0.01 XAU
0.001 XAU
$0.1
XAG
1 XAG
0.1 XAG
$0.001
XCU
1 XCU
0.1 XCU
$0.0001
XPT
0.01 XPT
0.001 XPT
$0.1
NATGAS
10 NATGAS
1 NATGAS
$0.0001
XBR (being delisted)
1 XBR
0.1 XBR
$0.01
GOOGL
0.1 GOOGL
0.01 GOOGL
$0.01
NVDA
0.1 NVDA
0.01 NVDA
$0.01
AMZN
0.1 AMZN
0.01 AMZN
$0.01
TSLA
0.1 TSLA
0.01 TSLA
$0.01
AMD
0.1 AMD
0.01 AMD
$0.01
MSTR
0.1 MSTR
0.01 MSTR
$0.01
EUR
10 EUR
1 EUR
$0.00001
Margin Requirements: Each TradFi market has a custom margin schedule, detailed below.
SPX (S&P 500) and NDX (Nasdaq 100)
$ 0 - 1000 k
10.0
10%
5%
$ 1000 - 2000 k
5.0
20%
10%
$ 2000 - 3000 k
3.3
30%
15%
If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 10% and 5% respectively for every additional $1000k.
XAU (Gold)
$ 0 - 2000 k
25.0
4%
2%
$ 2000 - 4000 k
12.5
8%
4%
$ 4000 - 6000 k
8.3
12%
6%
If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 4% and 2% respectively for every additional $2000k.
XAG (Silver)
$ 0 - 1000 k
10.0
10%
5%
$ 1000 - 2000 k
5.0
20%
10%
$ 2000 - 3000 k
3.3
30%
15%
If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 10% and 5% respectively for every additional $1000k.
XCU (Copper)
$ 0 - 500 k
10.0
10%
5%
$ 500 - 1000 k
5.0
20%
10%
If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 10% and 5% respectively for every additional $500k.
XPT (Platinum), NATGAS (Natural Gas)
$ 0 - 1000 k
5.0
20%
10%
$ 1000 - 2000 k
2.5
40%
20%
If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 20% and 10% respectively for every additional $1000k.
XBR (Brent Crude Oil) - being delisted
$ 0 - 500 k
5.0
20%
10%
$ 500 - 1000 k
2.5
40%
20%
If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 20% and 10% respectively for every additional $500k.
GOOGL
$ 0 - 500 k
10.0
10%
5%
$ 500 - 1000 k
5.0
20%
10%
If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 10% and 5% respectively for every additional $500k.
NVDA, AMZN, TSLA, AMD and MSTR
$ 0 - 500 k
5.0
20%
10%
$ 500 - 1000 k
2.5
40%
20%
If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 20% and 10% respectively for every additional $500k.
EUR
$ 0 - 2000 k
100.0
1%
0.5%
$ 2000 - 4000 k
50.0
2%
1.0%
$ 4000 - 6000 k
33.3
3%
1.5%
$ 6000 - 8000 k
25.0
4%
2.0%
$ 8000 - 10000 k
20.0
5%
2.5%
If a user's position exceeds the last margin tier, initial and maintenance margin requirements will increase by 1% and 0.5% respectively for every additional $2000k.
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