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Price Quotation

Prices are quoted in BTC per unit of the underlying. For example, if gold is trading around 3,000andBTCaround3,000 and BTC around 100,000, the GOLD/BTC contract might trade near 0.03 BTC. The minimum price increment (tick size) is set to a small fraction of BTC (e.g. 0.01 BTC) to allow fine price granularity.

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Index Calculation

The Index Price is our best estimate of what the asset is truly worth across the global market. Every second, we compute it using a consolidated, multi-exchange approach designed to be resilient, accurate, and manipulation-resistant. Each contract’s Index Price is derived from a composite index that blends a high-quality price feed of the underlying asset with a robust BTC/USD price feed:
  • The base asset’s price is sourced from reliable markets (via Databento and Pyth Network).
  • The BTC/USD price is calculated as a time-weighted average across Binance, Coinbase and Pyth Network.
  • To guard against outliers, any exchange feed that stales > 5 minutes is temporarily excluded until it prints a new price. By blending multiple sources and applying strict price-protection rules, the Index Price reflects a broad market consensus and resists distortion from bad data or manipulation.