Contract Specifications
SoDEX Perpetual Futures are derivative instruments that are not subject to an expiration or delivery date. Price alignment with the underlying spot market is maintained through a funding mechanism, where payments are exchanged between long and short position holders on a periodic basis. (Refer to the Funding section for details.)
Margining and Settlement Model
SoDEX utilizes a USDC-margined, USDT-denominated linear contract model.
Collateral & Settlement: The collateral (margin) is held in USDC, while the oracle price feed and the Notional Value of the contract are denominated in USDT.
Quanto Structure: This configuration means that Profits and Losses (PnL) denominated in USDT are settled and paid out in USDC, classifying these instruments as Quanto Contracts. Critically, no currency conversion is applied for PnL settlement.
Price Feed Exception: For assets where primary spot market liquidity dictates, the oracle price may be denominated in USDC. This is determined on a case-by-case basis using the most liquid oracle sources available.
The SoDEX framework is designed for clarity, featuring a simplified contract specification with minimal asset exceptions and no address-level restrictions. Specification Summary
Instrument Type
Linear Perpetual
Contract Size
1 unit of the underlying spot asset
Underlying Asset / Ticker
SoDEX oracle index of the underlying spot asset
Initial Margin Fraction
1 / (Leverage set by the user)
Maintenance Margin Fraction
50% of the Initial Margin Fraction
Mark Price
See Price Indexes
Delivery / Expiration
Not Applicable (Funding payments occur every hour)
Position Limit
Not Applicable
Account Type
Per-wallet cross or isolated margin
Funding Impact Notional
200 USD * Max Leverage of the specific asset
Maximum Market Order Value
Varies by asset:
BTC, ETH: $4,000,000
Other Assets: $1,000,000 - $2,000,000
Maximum Limit Order Value
Same as the Maximum Market Order Value for the specific asset
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