Contract Specifications

You can access detailed information about each perpetual contract from the contract details icon on the top-right side of the trading page, above the order form.

This page includes three main sections:

• Contract Specification
• Funding Rate
• Risk Limit

These sections help traders understand how the contract works, including leverage limits, funding mechanics, liquidation rules, and trading parameters.

Contract Specification

The Contract Specification page contains the core technical information of the perpetual contract.

Fields include:

• Contract Name → Name of the perpetual pair
• Funding Interval → Time between funding settlements (example: every 8 hours)
• Funding Rate → Current funding percentage
• Open Interest → Total active open positions in the market
• Maintenance Margin → Minimum margin required to avoid liquidation
• Max Limit Order Quantity → Maximum size allowed for limit orders
• Max Market Order Quantity → Maximum size allowed for market orders
• Risk Limit → Position size, leverage and MMR restrictions for the contract

Type: All USDC-M perpetual contracts on The True Trade use USDC as the collateral and settlement asset, meaning margin requirements, profits, losses, funding fees, trading fees, and final PnL calculations are all settled in USDC. The contract itself is quoted based on the underlying asset price, such as BTC in BTCUSDC, where BTC is the quoted trading asset and USDC is the settlement currency. For example, when BTCUSDC moves from 80,000 to 81,000, your position profit or loss is calculated from the BTC price movement, but the actual realized and unrealized PnL is credited or deducted in USDC balance. This structure keeps collateral, settlement, and account balance management unified in a single stablecoin currency while still allowing exposure to the underlying asset price movement.

Example

BTCUSDC:

• Funding Interval → 8 Hours
• Maintenance Margin Rate → 10%
• Open Interest → total active BTC perpetual positions across traders

This section helps traders review contract rules and risk parameters before opening positions.

Funding Rate

The Funding Rate section shows:

• Real-time funding rate
• Historical funding records
• Funding interval timing
• Interest rate
• Min/Max funding rate
• Funding rate movement chart

Funding is exchanged directly between long and short traders.

• Positive funding → Longs pay Shorts
• Negative funding → Shorts pay Longs

The fixed interest rate is:

0.01%

Funding is settled every:

8 hours

Funding Rate Formula

Funding Rate is generally calculated using:

Funding Rate = Premium Index + Interest Rate

Where:

• Premium Index → difference between perpetual market and index price
• Interest Rate → fixed base rate (0.01%)

Risk Limit

The Risk Limit section shows the trading limitations and risk parameters of each perpetual contract.

It mainly defines:

• Position Value → The allowed size range of positions for that risk tier.
• Max Leverage → The maximum leverage you can use within that tier.
• Maintenance Margin Rate → The minimum margin ratio required to keep the position open and avoid liquidation.

Example

Tier 1

• Position Value: 11 ~ 5,000,000 USDC
• Max Leverage: 125x
• Maintenance Margin Rate: 10%

This means positions within this size range can use up to 125x leverage and must maintain at least a 10% maintenance margin requirement.

For more details about leverage, margin calculation, maintenance margin, liquidation price, and trading fees, refer to the Fees, Margin & Collateral, and Liquidation & MMR guides.