NIGHT-USD-PERP

Contract Specifications

Features	Value
Product Type	NIGHT Perpetual Future
Settlement Currency	USDC
Base Currency	NIGHT
Quote Currency	USD
Funding Period	1.0 hours
Price Tick Size	0.00001 USD
Order Size Increment	1 NIGHT
Minimum Order Value	10 USD
Maximum Order Size	5,000,000 NIGHT
Maximum Number of Open Orders	75
Position Limit	16,000,000 NIGHT
Price Band Factor	20.0%
Funding Clamping Rate	1%

Mark Price Parameters

Parameter	Value
EWMA Factor	20%

Cross Margin Parameters

Parameter	Value
Base IMF	20%
MMF Factor	50%

IMF = Initial Margin Fraction

MMF = Maintenance Margin Fraction