TradingInstruments GuideFuturesTier 2ES-USD-PERPCopy pageContract Specifications FeaturesValueProduct TypeLinear Perpetual FutureSettlement CurrencyUSDCBase CurrencyESQuote CurrencyUSDFunding Period8 hoursPrice Tick Size0.00001 USDOrder Size Increment1 ESMinimum Order Value50 USDMaximum Order Size700,000 ESMaximum Number of Open Orders75Position Limit4,220,000 ESPrice Band Factor20%Funding Clamping Rate5% Mark Price Parameters ParameterValueEWMA Factor15% Cross Margin Parameters ParameterValueBase IMF20%MMF Factor50% IMF = Initial Margin Fraction MMF = Maintenance Margin Fraction