We are excited to announce that the LINK-USD Perpetual Contract Market is now live. Traders can trade LINK with up to 8x leverage with no expiry. Our contracts have been audited by Open Zeppelin, and are fully open-sourced.
To celebrate the launch, we are providing 50% off trading fees on the LINK-USD Perpetual for the next 7 days.
Perpetual Markets on dYdX are not available in the United States. No actual Fiat USD is supported on dYdX.
On a daily volume basis, LINK is the most traded token in all of DeFi. While demand is unquestionably high for LINK, we are just as excited about the underlying oracle ecosystem that Chainlink has built. As such, we are excited to share we are using Chainlink's LINK-USD Price Feed as the oracle source for this market. Given that Chainlink’s ecosystem of data providers have proven to be extremely reliable, even in times of high volatility, we are confident that this oracle integration will perform extremely well.
- Perpetual type: Linear
- Underlying market: LINK–USD
- Margin/settlement asset: USDC
- Tick size: $0.005 USD
- Min order size: 15 LINK
- Quantity step: 0.000001 LINK
- Max order size: None
- Max position size: None
- Expiry: Perpetual (no expiration)
- Maximum leverage: 8x
- Initial margin requirement: 12.5%
- Maintenance margin requirement: 10.0%
- Interest rate component for funding: 0%
- Impact notional amount for funding: $5000
- Fees: -0.025% Maker, 0.15% Taker
- Custom fees for “small” orders: variable depending on gas cost
- Min order size to place limit order: 1200 LINK
- Mark price for liquidations: The mark price is the on-chain index price, given by the Chainlink LINK–USD Price Feed which reports a weighted median from seven market data aggregators.
- Funding: Funding payments are made every second according to a rate which is updated hourly. The funding premium is scaled so as to have a realization period of 8 hours.
- Contract loss mechanism: Deleveraging (centralized, but verifiable insurance fund is the first backstop before deleveraging)
- Trading hours: 24/7/365
We are working on launching additional Perpetual Contracts in the future, with the goal of making dYdX the go-to platform for trading a variety of cryptoassets across Spot, Margin, and Perpetuals. We are also actively building a Layer 2 solution with StarkWare to be able to offer an even better experience for our traders.
Trade the LINK Perpetual now →