We have reduced tick sizes by a factor of 10 for the ALGO (ALGO-USD), NEAR (NEAR-USD), and SNX (SNX-USD) markets! The new updated tick sizes for these markets are as follows:
ALGO-USD = $0.001 -> $0.0001
NEAR-USD = $0.01 -> $0.001
SNX-USD = $0.01 -> $0.001
We hope that this makes your trading experience in these three markets even better!
To learn more about our plans and for the most recent updates regarding dYdX, join us on Discord and Twitter.
📜 Contract Specs
ALGO-USD
Underlying market: ALGO
Margin/settlement asset: $USDC
Tick size: $0.00010 USD
Minimum order size: 10 ALGO
Quantity step: 1.0 ALGO
Expiry: Perpetual (no expiration)
Maximum leverage: 10×
Initial margin requirement: 10.00%
Maintenance margin requirement: 5.00%
Fees: See here for latest perpetual trading fees on dYdX.
Mark price for liquidations: The index price, given by Chainlink's Layer 2 ALGO-USD price feed.
Funding: Funding payments are credited or debited at the start of each hour, and are included in the realized PnL for the position. The funding premium is scaled so as to have a realization period of 8 hours (8-hour funding rate). You can read more about the funding rate calculation here.
Contract loss mechanism: Deleveraging (centralized, but verifiable insurance fund is the first backstop before deleveraging). Read more here.
Trading hours: 24 x 7 x 365
NEAR-USD
Underlying market: NEAR
Margin/settlement asset: $USDC
Tick size: $0.0010 USD
Minimum order size: 1 NEAR
Quantity step: 0.1 NEAR
Expiry: Perpetual (no expiration)
Maximum leverage: 10×
Initial margin requirement: 10.00%
Maintenance margin requirement: 5%
Fees: See here for latest perpetual trading fees on dYdX.
Mark price for liquidations: The index price, given by Chainlink's Layer 2 NEAR-USD price feed.
Funding: Funding payments are credited or debited at the start of each hour, and are included in the realized PnL for the position. The funding premium is scaled so as to have a realization period of 8 hours (8-hour funding rate). You can read more about the funding rate calculation here.
Contract loss mechanism: Deleveraging (centralized, but verifiable insurance fund is the first backstop before deleveraging). Read more here.
Trading hours: 24 x 7 x 365
SNX-USD
Underlying market: SNX
Margin/settlement asset: $USDC
Tick size: $0.0010 USD
Minimum order size: 1 SNX
Quantity step: 0.1 SNX
Expiry: Perpetual (no expiration)
Maximum leverage: 10×
Initial margin requirement: 20.00%
Maintenance margin requirement: 5%
Fees: See here for latest perpetual trading fees on dYdX.
Mark price for liquidations: The index price, given by Chainlink's Layer 2 SNX-USD price feed.
Funding: Funding payments are credited or debited at the start of each hour, and are included in the realized PnL for the position. The funding premium is scaled so as to have a realization period of 8 hours (8-hour funding rate). You can read more about the funding rate calculation here.
Contract loss mechanism: Deleveraging (centralized, but verifiable insurance fund is the first backstop before deleveraging). Read more here.
Trading hours: 24 x 7 x 365
About dYdX
dYdX is the developer of a leading decentralized exchange on a mission to build open, secure, and powerful financial products. dYdX runs on audited smart contracts on Ethereum, which eliminates the need to trust a central exchange while trading. We combine the security and transparency of a decentralized exchange, with the speed and usability of a centralized exchange.