# TradFi Markets ### Supported TradFi Markets In addition to crypto markets, Extended currently offers perpetual contracts on the following traditional financial (TradFi) assets: * **Indices/ETFs:** SPX (S\&P 500), NDX (Nasdaq-100), EWY (MSCI South Korea ETF) * **Commodities:** XAU (Gold), XAG (Silver), XCU (Copper), XPT (Platinum), NATGAS (US Natural Gas), XBR (Brent Crude Oil), WTI (WTI Crude Oil) * **Equities:** GOOGL, NVDA, AMZN, TSLA, AMD, MSTR, COIN, HOOD, INTC, PLTR, AAPL, CRCL, MU, MSFT, SNDK, META * **FX:** EUR, USDJPY All TradFi markets are available for trading 24/7, including weekends and public holidays. However, spreads may be significantly wider outside of traditional market trading hours. TradFi markets currently have the same trading fee structure as crypto markets, although this may be revised in the future. ### Oracle Prices For TradFi perpetual markets, index and mark prices rely on external oracle data during trading hours. Extended uses two oracle providers depending on the asset class.
Market / Asset ClassProviderPrice ReferenceOracle Availability
Equities and ETFsStorkSpot prices24/5, Sunday 8:00 PM to Friday 8:00 PM ET
Indices: SPX and NDXPragmaTrade.xyz oracle price24/7
Precious Metals: XAU, XAG, XPTPragmaTrade.xyz oracle price24/7
Industrial Metals: XCUPragmaTrade.xyz oracle price24/7
Energy: XBR, WTI and NATGAS XBR and NATGAS: Pragma
WTI: Stork		Trade.xyz oracle price24/7
FX: EUR and USDJPYPragmaSpot pricesEUR: 24/7
USDJPY: 24/5, Sunday 5:00 PM to Friday 5:00 PM ET
During off trading hours, if the oracle has not been updated for 5 minutes, both the index price and mark price for TradFi markets are calculated as follows. `Index_t = β * Index_{t-1} + (1 - β) * Impact_Mid_Price`, where: * β = e^(-10 sec / 1 hour), implying that the index is updated every 10 seconds * Impact\_Mid\_Price = 10-minute EMA impact mid price The maximum deviation of the index and mark price from the last known oracle price is capped at ± 1 / (max market leverage). ### Funding Payments The logic remains the same as in [crypto markets](https://docs.extended.exchange/extended-resources/trading/funding-payments), except that the Funding Rate is calculated as Average Premium / 8. The funding rate cap is currently set at 1% per hour for all TradFi assets. ### **Trading Rules** | Market | Min Trade Size | Min Change in Trade Size | Min Price Change | | ------ | -------------- | ------------------------ | ---------------- | | SPX | 0.01 SXP | 0.001 SPX | $0.1 | | NDX | 0.001 NDX | 0.0001 NDX | $1 | | EWY | 0.1 EWY | 0.01 EWY | $0.001 | | 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 | 0.1 XBR | 0.1 XBR | $0.001 | | WTI | 0.1 WTI | 0.01 WTI | $0.001 | | GOOGL | 0.1 GOOGL | 0.01 GOOGL | $0.01 | | EUR | 10 EUR | 1 EUR | $0.00001 | | USDJPY | 0.1 USDJPY | 0.01 USDJPY | $0.001 | | 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 | | COIN | 0.1 COIN | 0.01 COIN | $0.01 | | HOOD | 0.1 HOOD | 0.01 HOOD | $0.001 | | INTC | 0.1 INTC | 0.01 INTC | $0.001 | | PLTR | 0.1 PLTR | 0.01 PLTR | $0.01 | | AAPL | 0.1 AAPL | 0.01 AAPL | $0.01 | | CRCL | 0.1 CRCL | 0.01 CRCL | $0.001 | | MU | 0.01 MU | 0.001 MU | $0.01 | | MSFT | 0.01 MSFT | 0.001 MSFT | $0.01 | | SNDK | 0.01 SNDK | 0.001 SNDK | $0.01 | | META | 0.01 META | 0.001 META | $0.01 | ### Margin Schedule Each TradFi market has a custom margin schedule, detailed below. **SPX (S\&P 500) and NDX (Nasdaq 100)** | Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin | | ---------------- | ------------ | ------------------ | ------------------ | | $ 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)** | Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin | | ---------------- | ------------ | ------------------ | ------------------ | | $ 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)** | Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin | | ---------------- | ------------ | ------------------ | ------------------ | | $ 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)** | Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin | | ---------------- | ------------ | ------------------ | ------------------ | | $ 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), XBR (Brent Crude Oil) and WTI (WTI Crude Oil)** | Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin | | ---------------- | ------------ | ------------------ | ------------------ | | $ 0 - 1000 k | 5.0 | 20% | 10% | *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.* **EUR** | Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin | | ---------------- | ------------ | ------------------ | ------------------ | | $ 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.* **USDJPY** | Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin | | ---------------- | ------------ | ------------------ | ------------------ | | $ 0 - 2000 k | 25.0 | 4% | 2% | *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.* **EWY, GOOGL,NVDA, AMZN, TSLA, AMD , MSTR, COIN, HOOD, INTC, PLTR, AAPL, CRCL, MU, MSFT, SNDK, META** | Position Bracket | Max Leverage | Min Initial Margin | Maintenance Margin | | ---------------- | ------------ | ------------------ | ------------------ | | $ 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.*