Market Parameters
The system parameters are currently set as the following on testnet. These parameters should be similar to what will be set initially once the protocol is available on zkSync Era mainnet.
Only the core user-facing parameters are listed here. Visit the Economic Parameters section in Developer Docs to see the complete list of parameters that governance can change.
Parameter | Description | Set As | Contract |
---|---|---|---|
minMargin | Minimum maintenance margin | 3% | ClearingHouse |
minMarginAtCreation | Minimum margin for opening a position | 5% | ClearingHouse |
minPositiveOpenNotional | Minimum order size | 35 USDC | ClearingHouse |
liquidationReward | Percent of openNotional paid to liquidator & insurance | 1.5% | ClearingHouse |
Parameter | Description | Set As | Contract |
---|---|---|---|
maxPosition | Maximum position size | 10,000 | Perpetual |
maxBlockTradeAmount | Maximum amount that can be traded per timestamp | 100,000 | Perpetual |
insuranceFee | Insurance fee charged | 0.10% | Perpetual |
twapFrequency | Frequency of TWAP updates | 15 mins | Perpetual |
sensitivity | Sensitivity of funding rate to divergence between market price and underlying price | 3 | Perpetual |
- Maximum account leverage before liquidation: 33x
- Maximum account leverage when opening a position: 20x
- Fees: Curve has a
mid_fee
and anout_fee
. Themid_fee
is the minimum fee that is charged when the pool is maximally balanced: 0.05%. Theout_fee
is the maximum fee that is charged when the pool is imbalanced: 0.5%. Another important parameter isfee_gamma
which controls how quickly fees change frommid_fee
toout_fee
or vis versa as pool imbalances transform: 0.0005. - Price for liquidations: The system uses the index price, which is currently a mock Chainlink oracle of the BTCUSD price feed.
- Funding: Funding payments are added or subtracted to any incurred PnL whenever a user changes position, adds liquidity, or removes liquidity on the market. For more details on funding please see Funding.
Last modified 2mo ago