Hoo perpetual contract is a positive contract, i.e., the denomination currency is the same as the settlement currency. For example, in a BTC/USDT contract, BTC is the underlying currency while USDT is the denomination and settlement currency.
Positive contract is the simplest contract whose concept is the same with spot trading.
1. Hoo Perceptual Contract
Trading time: 7/24
Settlement time: Real-time settlement, but only realized profit can be withdrawn
Margin calculation gradient: The initial rank is level 1,. For a certain number of contract positions, the rank will go up for one level; for details, please refer to risk limitation
Initial margin=1% * gradient rank + estimated trading fee
For the buying price higher than the mark price or the selling price lower than the mark price, extra margin will be charged.
Maintenance margin = 0.5% * gradient rank
Reasonable mark price: To avoid unnecessary liquidation, Hoo adopts reasonable mark price to evaluate if a user’s margin is enough
Funding fee collection slot: every 8 hours
Service fee: Maker - 0.035%, Taker - 0.075%
Liquidation: If the margin is lower than the maintenance margin, the contract will be liquidated. And the rest of the assets will be returned to the trader
Partial liquidation: Perceptual contract is a highly speculative investment product. Hoo will deal with the losses through partial liquidation
2. Basic Parameters of the Contract
Below are the basic parameters of Hoo Perceptual Contract:
Dec. 19, 2019