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.

Ticker Symbol XRPXBT
Expiry Date Perpetual
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
Auto-Liquidation Enabled Yes
Settlement XBT
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.