Contract Specification: XRPXBT
XRPXBT is a perpetual contract, which never expires. Each contract is worth the Quantity of XRP bought/sold.
The interest rate on funding is different each day and is published in the interest rates section. The funding is paid at 00:00 UTC, 7 days a week. If the interest rate is positive Long positions pay and Short positions get paid. If interest rates are negative, Long positions get paid and Short positions pay.
|Initial Margin||(Price * Quantity)/Leverage + Spread^|
|Maintenance Margin||(Price * Quantity)/Leverage|
|PnL Calculation||(Exit Price – Entry Price) * Quantity / Mid-Price at Exit^^|
|Funding Rate||See interest rates|
|Funding Interval||Every 24 hours at 00:00 UTC|
|Contract Size||Quantity of XRP * Price|
|Available Leverage||5x – 20x|
|Pricing Method||Market Aggregation|
^ Spread = Buy Price – Sell Price.
^^ Mid-Price at Exit = (Buy Price + Sell Price)/2 at the time of exiting the position.