Contract CodeGOLD-BTC
Underlying Index Price• Gold Price: real-time PAX Gold (PAXG) calculated as the 4-hour V-WAP across Binance (PAXG/USDT); Binance (PAXG/USDC), and Coinbase (PAXG/USD).
• BTC Price: 3-venue 4-hour V-WAP spot composite of Binance (BTC/USDT); Bybit (BTC/USDT); Coinbase (BTC/USD).
Contract Size1 PAXG token (≈ 1 troy ounce Au) quoted & settled in BTC
Quote / P&L CurrencyBTC
Tick Size0.01
Trading Hours24 / 7 continuous order book.
Underlying Cash‑Market Hours24 / 7 continuous trading — PAX Gold (ERC‑20) trades around the clock on major crypto exchanges.
Mark-Price ConstructionMark Price = median(P¹, P², 5-min_Last), Where:
• Price 1 = Index Price × [1 + Last Funding Rate × (Time Until Funding /8)]
• Price 2 = Index Price + Moving Average (5-minute Basis)
• 5-min_last = Moving Average [(Bid1 + Ask1)/2 − Index Price], which measures every second in a 5-minute interval
• Price-protection for Index Price: omit prints > 5 % from median; readmit after ≤ 3 % for 5 min.
Funding Snapshots00:00 UTC • 08:00 UTC • 16:00 UTC (every 8 h)
Funding-Rate FormulaPremium Index + Interest Rate; Interest Rate = 0.10 % / day (0.033 % / 8 h). Caps ± 3 % per 8 h.
Leverage & MarginMax Leverage 10x; Maintenance margin 50% of Initial Margin.
Liquidation Logic• Trigger when Equity < MM.
• For long positions = Entry Price × (1−Initial Margin Rate + Maintenance Margin Rate)
• For short positions = Entry Price × (1 + Initial Margin Rate - Maintenance Margin Rate)
Order Types / TIFLimit, Market, GTC, GTD, IOC.
Min / Max Order SizesMarket Max: 0.5 BTC
Limit Max: 2.5 BTC