Funding Rate Revenue
Operators configure the base interest component on perpetuals that contributes directly to platform revenue on every funding interval.
DERIVATIVES TRADING
Perpetuals. Futures. Options.
The Highest-Volume Segment in Crypto. Perpetual contracts, dated futures, and options on a single matching engine. Configurable leverage up to 125x. A unified risk engine with integrated clearing house mechanics, multi-source oracle pricing, insurance-fund-backed default management, and transparent ADL mechanics. Deep liquidity from the first contract traded.
Get Started125x Max Leverage 100+ Derivative Pairs
THREE CONTRACTS - ONE ENGINE
Three Instrument Classes. One Institutional-Grade Engine.
Deploy the full spectrum of derivative products from a single matching core.
Continuous Exposure
Perpetuals
No expiry. Funding settles on configurable intervals - anchoring contract price to spot via premium/discount mechanisms with operator-defined rate caps.
DEPTH FROM THE FIRST CONTRACT
Institutional-Grade Liquidity from Day One
Aggregated venue depth extends to every derivative market with delta-neutral automated market making.
Smart Order Routing
Optimizes execution across all connected sources simultaneously.
Split Execution
Large orders fragment across venues to minimize market impact.
New Market Support
Custom instruments launch with active order books from AMM bots.
Derivatives Drive Global Volume
Derivatives markets consistently outpace spot across all market conditions. Running a derivatives venue captures the highest-volume segment of the market.
Trading Commissions
Maker/taker fees on every contract executed. Higher notional values per trade relative to spot generate more absolute revenue per fill.
Liquidation Fee Capture
Execution spread on liquidated positions routes first to the insurance fund. Operator configures contribution tiers and retention logic.
Custom Contract Listing Fees
Projects launching custom derivative instruments pay listing fees for inclusion in the derivatives environment.
RISK ENGINE
Five Components That Define Derivatives Venue Survivability
The risk engine operates as an independent subsystem — separate from the matching engine, with its own compute path and data feed. Position exposure, margin adequacy, and mark price evaluated on every tick across every open contract.
Mark Price Oracle - MANIPULATION RESISTANCE
Liquidations trigger on mark price, not last traded price. A single manipulated print on a thin book cannot cascade an entire leverage stack.
- Composite Index: Stabilizes the mark price by aggregating volume-weighted data from multiple venues to prevent single-point price manipulation.
- Outlier Rejection: Dynamically filters anomalous price data to ensure localized venue volatility or "fat-finger" errors don't impact index integrity.
- Deviation Circuit Breakers: Halts high-risk liquidation events during extreme volatility to allow for manual review and prevent cascading market failures.
- Fallback Behavior: Ensures operational continuity by switching to secondary pricing models if primary data sources fail to meet reliability thresholds.
Clearing House Infrastructure
Clearing Mechanics Embedded at the Engine Level. Clearing mechanics are embedded at the engine level — every contract traded carries structural guarantees, position management authorities, and default containment that define an institutional-grade derivatives venue.
Risk Management Protections for the Exchange
- Cascade Prevention — incremental liquidation staggers position closes during volatility events rather than force-closing full positions.
- Counterparty Default Containment — Insurance fund and ADL sequence ensure a defaulting counterparty's loss does not propagate through the book.
- Operator Exposure Controls — Leverage limits, margin requirements, circuit breakers, and oracle deviation thresholds adjustable from the admin panel in real time.
- Audit Trail — Every clearing action logged with full price, time, position size, and margin state at the time of execution.
Liquidation Fee Capture
When a position is liquidated, the engine closes at a price reflecting the liquidation execution cost. The residual between what the position's margin covers and what the engine recovers represents the clearing layer's operational spread. Proceeds route first to the insurance fund. The operator configures contribution tiers and retention logic from the admin panel.
Position Takeover at Bankruptcy
When a position breaches bankruptcy price, the clearing layer takes over as counterparty. The original position holder's margin is exhausted; the clearing house absorbs the position and manages the close against the order book. For the enterprise operator: insolvent positions are handled systematically and deterministically. No manual intervention, no discretionary close-out, no user-facing loss mutualization.
CAPITAL EFFICIENCY
Margin Architecture
Cross-Margin
Account balance shared across positions. Unrealized profit offsets margin consumption elsewhere. Maximum capital efficiency — a severe loss on one position draws from the full account.
Isolated-Margin
Margin allocated per position. Loss capped to assigned margin. Account protected from cascading liquidation.
Multi-Collateral
Margin posted in stablecoins, major tokens, or fiat. Real-time oracle valuation with configurable haircuts per asset. No forced conversion at position entry.
BEYOND CRYPTO
Configurable Contract Primitives
Define your own products; the engine handles the institutional mechanics.
Settlement Currency
USDT, USDC, other stablecoins, native tokens, or fiat-denominated settlement.
Settlement Method
Cash settlement against index, physical delivery of tokenized assets, or hybrid settlement logic.
Underlying
Any price feed the oracle layer can source — crypto assets, tokenized commodities, RWA indices, custom reference rates, sector indices, or proprietary benchmarks.
Expiry Structure
Fixed schedules, rolling windows, event-triggered expiry, or perpetual (no-expiry).
Contract Multiplier
Lot size and contract value denominated in operator-defined units.
Margin Model
Standard isolated or cross-margin; portfolio margining for multi-leg products.
Oracle Source
First-party data feeds, third-party price oracles, custom weighted composites, or operator-supplied reference prices.
Leverage Range
Minimum and maximum leverage caps per instrument.
OPERATOR WORKFLOW
Launching Custom Products
Five-step protocol from definition to live deployment without downtime.
1
Define Contract
Configure underlying, settlement currency, expiry structure, margin model, leverage range, and contract multiplier in the admin panel.
2
Configure Oracle
Select or connect the price feed. Set source weighting, deviation thresholds, and fallback behavior.
3
Set Risk Parameters
Define position limits, maintenance margin requirements, insurance fund contribution rules, and circuit breaker thresholds.
4
Seed Liquidity
Assign AMM bots with instrument-specific spread logic and depth tiers. Connect external hedging sources if available.
5
Deploy
The contract goes live without platform downtime. Full risk engine, clearing house protections, and settlement infrastructure apply from the first trade.
MARKET COVERAGE
USDT-Margined & Coin-Margined
100+ perpetual and futures pairs spanning the full crypto universe.
Finality, Control, and Perpetual Anchoring
Advanced lifecycle tools for every trading stage.
Perpetual Funding
Rate calculated from the premium/discount between mark price and spot index, combined with a base interest component. Maximum rate caps prevent extreme cost spikes. Historical funding accessible via API.
Futures Settlement
Dated contracts settle against a time-averaged index window — typically a 30-minute TWAP on the settlement venue index. The averaging window prevents last-second manipulation. Settlement price locks, positions settle, and finality is reached in the same tick.
Position Management Tools
- Partial Close: Incrementally reduces position size while proportionally releasing locked margin to the wallet.
- Position Reversal: Executes a seamless directional flip by closing the current position and opening its opposite without market gap exposure.
- Margin Adjustment: Modifies the collateral of isolated positions in real-time to dynamically shift the liquidation price.
- Auto Margin Top-Up: Automatically pulls available wallet funds into isolated positions nearing liquidation to prevent forced closure.
- Webhook Signal Execution: Connects external strategy engines and TradingView alerts to the exchange for automated, signal-driven order execution.
Options Exercise
European-style. Automatic exercise at expiry for in-the-money contracts against the settlement price. Premium and settlement flows execute within the same window.
Full Configuration from the Admin Panel
Complete control over every risk and mechanical parameter.
| 1 | Leverage Limits | Per instrument, per user tier. Real-time adjustment. |
| 2 | Contract Specs | Tick size, lot size, multiplier, settlement type. |
| 3 | Margin Requirements | Initial, maintenance, and liquidation thresholds. |
| 4 | Funding Parameters | Interval, cap/floor, calculation method. |
| 5 | Oracle Config | Source selection, weighting, and fallback rules. |
| 6 | Insurance Fund | Contribution rules and depletion triggers. |
| 7 | ADL Rules | Activation triggers and ranking logic. |
| 8 | Position Limits | Per-user and aggregate market exposure caps. |
| 9 | Options Config | Strikes, expiries, premium model, and margin. |
| 10 | Circuit Breakers | Auto-halt on abnormal price movement or cascades. |
| 11 | Clearing Config | Liquidation fee routing and takeover thresholds. |
| 12 | Custom Contracts | Deploy new instruments and custom settlement logic. |
OPERATOR CONCERNS
Critical Enterprise Questions About Running Derivatives
- What if a cascade liquidation destroys the platform during a crash?Incremental liquidation, mark price oracles with outlier rejection, and deviation circuit breakers prevent cascade events. The risk engine evaluates position health continuously, independent of the matching engine.
- What if the insurance fund runs out during an extreme event?ADL activates before the fund depletes to zero, reducing highest-profit opposing positions in pre-ranked order. Losses are never socialized to users' balances.
- Do we have liability as counterparty when positions go insolvent?The clearing house absorbs insolvent positions systematically. The platform handles close-out, routes proceeds through the insurance fund, and maintains a complete audit trail.
- Can someone manipulate the mark price to trigger liquidations?Mark price is a multi-source weighted composite with outlier rejection and deviation circuit breakers. When oracle confidence degrades, liquidation processing pauses rather than executing against unverified prices.
- Can we adjust risk parameters in real time during a volatile event?Every risk parameter — leverage limits, margin requirements, circuit breakers, oracle deviation thresholds — is adjustable from the admin panel. Changes take effect immediately without downtime.
BUILT FOR
Enterprise Operators Deploying Derivatives Infrastructure
Crypto Exchange Operators
Need the highest-volume market segment. Derivatives consistently account for the majority of global crypto trading volume.
Institutional Trading Desks
Need mission-critical risk infrastructure. Mark price oracles, multi-collateral margin, ADL with live priority indicators, and a complete clearing house audit trail.
Commodity & RWA Platform Operators
Need derivative products on non-crypto underlyings. Configurable primitives support derivatives on oil, gas, metals, real estate indices, and treasury yield curves.
Fintech Derivatives Platforms
Need derivatives infrastructure without building a risk engine. The entire stack — oracle, liquidation, insurance fund, ADL, clearing house — ships pre-built.
DERIVATIVES QUESTIONS
FAQ
Mark price is a multi-source weighted composite with outlier rejection and deviation circuit breakers. When oracle confidence degrades, liquidation processing pauses.
Liquidation price is where the engine begins closing a position. Bankruptcy price is where remaining margin reaches zero — closures past bankruptcy enter the default waterfall.
Insurance fund absorbs shortfalls first. If insufficient, ADL reduces ranked opposing positions. never socialized.
The insurance fund absorbs the shortfall first. If insufficient, ADL reduces ranked opposing positions. The shortfall is never socialized to users.
Yes. Configurable contract primitives support custom underlyings, settlement currencies, oracle sources, and expiry structures — deployed from the admin panel without downtime.
The clearing layer handles counterparty default, position takeover at bankruptcy, and the full default waterfall automatically. Complete audit trail, no manual intervention.
LAUNCH DERIVATIVES
Deploy the Highest-Volume Segment of Crypto Trading
Walk through the full derivatives infrastructure — risk engine, clearing house mechanics, default waterfall, oracle architecture, custom contract configuration, and liquidity integration.
Book a Demo