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Safety Parameters

Perp88 implements multiple structure to help protect liquidity providers from potential price manipulation or from taking on too much exposures.

Maximum OI Limit

The smart contracts of Perp88 allows for the platform to place a limit on the maximum OI for each trading asset. The limit will help ensure that our LPs and platform do not have too much absolute exposure on any assets.

Long OI

Asset
Max. Long OI
BTC
TBD
ETH
TBD
MATIC
TBD

Short OI

Asset
Max. Short OI
BTC
TBD
ETH
TBD
MATIC
TBD
Note that the Maximum OI Limit is currently turned off and will remain that way until early signs of any potential risks.

Dynamic Funding Rate

Perp88 implements a Dynamic Funding Rate on top of our single slope Borrowing Rate model. The dynamic funding fee helps bring a balance between long and short OI on Perp88, thus ensuring our LPs are not too exposed to one side of the market.
Similar to how funding fee works on CEXs, if there is more long than short OI, long will pay shorts. On the other hand, if there’s more short exposure than long, shorts will pay longs.
Below is the calculation for the Dynamic Funding Rate:

Long Exposure Funding Rate:

(LongExposure−ShortExposure)/LongExposure∗MaxHourlyFundingRate(Long Exposure - Short Exposure)/Long Exposure * Max Hourly Funding Rate

Short Exposure Funding Rate:

(ShortExposure−LongExposure)/ShortExposure∗MaxHourlyFundingRate(Short Exposure - Long Exposure)/Short Exposure * Max Hourly Funding Rate

Dynamic Funding Rate for Each Trading Asset

Below is the table containing the MaxHourlyFundingRate. Note that the funding rate is displayed on a per hour basis.
#
Assets
Max Funding Rate per Hour
1
MATIC
0.002%
2
BTC
0.002%
3
ETH
0.002%
Please note that the Dynamic Funding Rate is added on top of the Borrowing Rate. For more details on the Borrowing Rate, please visit here.

Funding Fee & Borrowing Fee Emulator

To help users get a better understanding on the potential funding and borrowing fees on their leveraged position, we have created a Funding Fee & Borrowing Fee Emulator, which will calculate the net interest payment (funding fee + borrowing fee) that the users will accrue under different long and short OI.
You can find the emulator here.