At a glance
| Item | V1 value |
|---|---|
| Markets | SOL-PERP (market_index = 0) |
| Collateral | USDC (6-decimal SPL) |
| Max leverage | 10× (initial margin ratio 10%) |
| Maintenance margin | 5% |
| Funding period | 1 hour |
| Funding clamp | ±3.03% per period |
| Taker fee | 10 bps |
| Maker fee | 5 bps (reserved, pending rebate design) |
| Liquidation fee | 5% of closed notional |
| Oracle | Pyth Hermes Pull (SOL/USD) |
| Oracle staleness threshold | 60 s |
| Oracle confidence cap | 2.5% |
| Tick size | set per market (see the on-chain Market account) |
| Order book depth | 32 bids × 32 asks per market |
| Matches per tx | Up to 4 fills per place_order |
Section map
Markets
Supported markets and their parameters.
Collateral
What you can post as margin, and how the vault uses it.
Fees
Taker, maker, liquidation, and funding “fees”.
Margin framework
Initial vs maintenance, reserved margin, health.
Liquidation
Trigger condition, fee split, bad-debt handling.
Mark price
How mark price is derived and clamped.
Order types
Market, limit, post-only.