Timed Perpetuals

For markets that thrive on volatility.

Whether it's friendtech keys or NFTs, timed perpetuals are catered to markets that are prone to volatility. Higher risk, higher reward. Executing a trade operates the same as standard perpetuals, however there are some key differences:

Duration

The individual markets are not indefinite and can be open to trade from a few days to a few weeks. The funding rates mechanic, explained below, helps close the market appropriately.

Funding rates

At late stages of the market, funding rates will reduce at designated times until they reach 0. When a market reaches its late stage, the time that funding rates will begin to reduce is displayed when hovering over the trading pages' funding rates.

Please also note that some timed perpetuals may not have funding events, and Butter.xyz may enable or disable funding events at its determination.

Further explained here: Timed Perps

Market close

Shortly after funding rates have been reduced to 0 all remaining open positions will be closed and their PnL realized. Positions are closed in a last-in, first-out order, meaning that the last traders to open positions will have their positions closed first.

Note: Your displayed PnL prior to the market close may differ to what is received after, due to the function of all global Butter positions being closed amongst one another.

Mark Price / Index Price

Some timed perps markets will begin without an index price and trades will be made purely on price speculation. An index price may be added in at a later date.

Due to the volatile nature of these markets, the mark & index prices may not be pegged to one another.