Perpetuals Specifications

This section is the spec sheet for Kimia’s perpetual futures. If you’re looking for conceptual context, start at perpetuals concept. Here we codify the exact parameters a trader or integrator should know.

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.

Oracles Markets

Start

Concepts

Programs

At a glance

Section map

Markets

Collateral

Fees

Margin framework

Liquidation

Mark price

Order types

​At a glance

​Section map

Markets

Collateral

Fees

Margin framework

Liquidation

Mark price

Order types

At a glance

Section map