4. Asset Parameters

Specifications for each trading pair.
Once you’ve selected your market, you’ll see the details for that market above the price chart on your screen.

Market Details

Mark Price

The fair value of a perpetual contract, determined by Zeta’s internal risk engine — refrshed on a sub-second basis.

Open Interest

Open interest (OI) refers to the total number of unsettled derivatives contracts in a given market.
I.e., the total number of derivatives contracts that have yet to be closed by an offsetting transaction or expiry-induced settlement.

Funding Rate

Funding rates mechanistically ensure the convergence of perp price on spot price.
A positive funding rate means perp price is trading above spot price, in which case longs pay shorts.
A negative funding rate means perp price is trading below spot price, in which case shorts pay longs.

Funding APR

Funding Annual Percentage Rate (APR) is the annual rate resulting from extrapolating the funding rate out to one year.

Risk Parameters

Initial Margin

The minimum available balance required to open a position. Your initial margin requirement will be up to 10x less that the value of your trade, depending upon how much leverage you apply.

Maintenance Margin

The minimum available balance you must maintain to avoid the risk of liquidation and ensure your position remains open.

Maximum Initial Leverage

This is the maximum leverage at which you can establish a position in a given market.
10x for SOL, BTC, and ETH
4x for APT

Maximum Maintenance Leverage

This is the maximum leverage you are afforded after establishing a position.
15x for SOL, BTC, and ETH
10x for APT

Liquidation Threshold

When your USDC equity dips below your margin maintenance level, your positions become subject to liquidations; your liquidation threshold is the price at which this process will be triggered.
The liquidation price for all positions is visible in your trade modal after entry. To avoid the liquidation risk, you can top up your account with USDC when price encroaches on your liquidation threshold.
The more account leverage you use, the more susceptible you are to liquidation.

Liquidation Buffer

The amount of capital protecting you from liquidation. When this hits 0, your account will be subject to liquidation. You can increase your liquidation buffer by topping up your account with USDC.