SOL | Paradex | Documentation

Contract Specifications

Features	Value
Product Type	Perpetual Option
Symbol	SOL-USD-{Strike}-{Type} (e.g. `SOL-USD-130`-C)
Settlement Currency	USDC
Base Currency	SOL
Quote Currency	USD
Funding Period	24 hours
Price Tick Size	0.001 USD
Order Size Increment	1 SOL
Minimum Order Value	50 USD
Maximum Order Size	10,000 SOL
Maximum Number of Open Orders	100
Position Limit	5,000 SOL
Spot Band Factor	5%
IV Band Factor	5%
Strike Listing Range	20%
Strike Delisting Range	25%

Mark Price Parameters

Parameter	Value
IV EWMA Factor	20%
Max IV	500%

Cross Margin Parameters

Parameter	Value
Premium Multiplier IMF	100%
Long ITM IMF	20%
Short ITM IMF	15%
Short OTM IMF	10%
Short Put Cap IMF	50%
Premium Multiplier MMF	50%
Long ITM IMF	10%
Short ITM IMF	7.5%
Short OTM MMF	5%
Short Put Cap MMF	50%

IMF = Initial Margin Fraction

MMF = Maintenance Margin Fraction

Order Value → Order Size x Spot Oracle Price (i.e. underlying spot notional)

Spot/IV Band Factors → As opposed to perpetual futures where we have 1 single price band factor, 2 factors are needed (both spot and IV are shocked to get the price band)