Perpetual Swaps Contract Specifications

Perpetual Futures are similar to dated futures, just without an expiry date. Instead, a funding rate is applied to your position based on market activity.
The following schema is used for Perps Contract specifications:
Underlying Oracle Feed
Pyth: SOL/USD Feed, BTC/USD Feed, ETH/USD Feed, APT/USD Feed
Multiplier Currency
Underlying (SOL, BTC, ETH, APT)
Initial Margin Requirements
10% of spot price for orders which add to the existing position for SOL, BTC, ETH; 25% of spot price for APT This is applied to max(long lots, short lots), rather than long + short lots.
Maintenance Margin Requirements
6.5% of spot price for SOL, BTC, ETH; 10% of spot price for APT
Taker Fees: 0.10% of underlying
Maker fees: 0% (Default)
Maker Rebates: See Market Maker Program
Liquidation Rewards
35% of the maintenance margin for the future
Funding Rate Bounds
±2% per day

Funding on Zeta

Funding rates on Zeta are calculated on Zeta approximately every 10 seconds.
Rather than applying funding on a set timer, we apply it to your balance on any balance-sensitive operation (placeOrder, withdraw, liquidate, etc.), as well as every couple of minutes using our cranks.
At any point you can apply any unpaid funding to your account with our SDK's utils.applyPerpFunding() function.
Learn more about Perpetual Funding Rates.