> ## Documentation Index
> Fetch the complete documentation index at: https://docs.roxom.com/llms.txt
> Use this file to discover all available pages before exploring further.

# OIL-BTC

> Specific details for the OIL-BTC perpetual futures contract.

| **Contract Code**                                            | `OIL-PERP`                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| ------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Underlying Index Price**                                   | **WTI Light Sweet Crude Oil** composite index <br />• **BTC Price:** 3-venue 4-hour V-WAP spot composite of Binance (BTC/USDT); Bybit (BTC/USDT); Coinbase (BTC/USD).                                                                                                                                                                                                                                                                                                                          |
| **Contract Size**                                            | Notional of **10 × WTI crude oil composite price,** quoted & settled in BTC                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Quote / P\&L Currency**                                    | BTC                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| **Tick Size**                                                | 0.01                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| **Trading Hours**                                            | **24 / 7 continuous order book.**                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| **Underlying Cash‑Market Hours**                             | **Sunday – Friday** <br />• **CME Globex:** 18:00 – 17:00 ET (next day) with a 60-minute break each day at 17:00 ET *(closed on U.S. market holidays).*                                                                                                                                                                                                                                                                                                                                        |
| **Mark-Price Construction**                                  | \*\*Mark Price = median(P¹, P², P³), Where: \*\*<br />**Price 1 (P¹)** = Index Price × 1+LastFundingRate×(TimeUntilFunding/8) <br />**Price 2 (P²)** = Index Price plus a rolling **2.5-minute average basis**, where the basis is defined as *(Bid1 + Ask1)/2 − Index Price*. <br />**Price 3 (P³)** = Last traded price.                                                                                                                                                                     |
| **Price Formation when the underlying oil market is closed** | • **Oil leg (WTI):** When CME Globex is closed, the oil-leg reference is **frozen at the last official WTI settlement price**. <br />• **BTC leg:** The BTC component continues to update in real time using our 3-venue 4-hour VWAP composite (Binance BTC/USDT, Bybit BTC/USDT, Coinbase BTC/USD). <br />• **Mark Price:** mark price is calculated in the same way as during normal trading hours, where each *P* is computed with the **static WTI close** and the **live BTC composite**. |
| **Funding Snapshots**                                        | 00:00 UTC • 08:00 UTC • 16:00 UTC (every 8 h)                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **Funding-Rate Formula**                                     | **Premium Index + Interest Rate**; Interest Rate = 0.03% / day (0.01% / 8 h). Caps ± 3 % per 8 h.                                                                                                                                                                                                                                                                                                                                                                                              |
| **Leverage & Margin**                                        | Max Leverage 10x; Maintenance margin 25% of Initial Margin.                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Liquidation Logic**                                        | • Trigger when Equity \< MM. <br />• For long positions = Entry Price × (1−Initial Margin Rate + Maintenance Margin Rate) <br />• For short positions = Entry Price × (1 + Initial Margin Rate - Maintenance Margin Rate)                                                                                                                                                                                                                                                                      |
| **Order Types / TIF**                                        | Limit, Market, GTC, GTD, IOC.                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
| **Min / Max Order Sizes**                                    | **Market Max:** 0.5 BTC <br />**Limit Max:** 0.5 BTC                                                                                                                                                                                                                                                                                                                                                                                                                                           |