Derivatives
Up to 125xPerpetual Futures Trading
Trade USDS-margined perpetual contracts with up to 125x leverage. Access 200+ contracts with deep liquidity, advanced margin modes, and institutional-grade risk management.
125x
Max Leverage
200+
Contracts
0.02%
Maker Fee
$2B+
24h Volume
Core Features
Trade with Precision
Advanced tools designed for serious derivatives traders, from flexible margin modes to robust safety mechanisms.
Cross & Isolated Margin
Choose cross margin to share collateral across positions, or isolated margin to cap risk on individual trades.
One-Way & Hedge Mode
Run one-way positions for simplicity, or enable hedge mode to hold simultaneous long and short positions on the same contract.
Real-time Funding Rate
Transparent funding rates updated every 8 hours keep perpetual prices anchored to the spot index, with historical data available.
Mark Price & Last Price
Choose between mark price and last price triggers for stop-loss and take-profit orders to suit your strategy.
Insurance Fund
A robust insurance fund absorbs liquidation shortfalls, protecting profitable traders from socialized losses.
Auto-Deleveraging (ADL)
When the insurance fund is depleted, ADL selectively reduces positions of the most profitable opposing traders, ensuring market stability.
Leverage Tiers
Position Size & Leverage
Maximum leverage decreases as position size increases to manage systemic risk.
| Tier | Position Size (USDT) | Max Leverage |
|---|---|---|
| Tier 1 | 0 - 50,000 | 125x |
| Tier 2 | 50,000 - 250,000 | 100x |
| Tier 3 | 250,000 - 1,000,000 | 50x |
| Tier 4 | 1,000,000 - 5,000,000 | 25x |
| Tier 5 | 5,000,000+ | 10x |
Safety First
Risk Management
Multiple layers of protection to safeguard your capital and the integrity of the platform.
Insurance Fund
A dedicated reserve that covers liquidation deficits, preventing socialized losses and protecting all traders on the platform.
Auto-Deleveraging
An automatic mechanism that reduces opposing positions in extreme market conditions when the insurance fund cannot cover losses.
Liquidation Protection
Smart liquidation engine that partially liquidates positions and uses mark price to prevent unnecessary liquidations caused by wicks.
Position Limits
Per-account and per-contract position limits prevent excessive concentration of risk and protect overall market stability.
Start Trading Futures
Access 200+ perpetual contracts with up to 125x leverage, deep liquidity, and advanced risk management on XEX.