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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.

System Specifications

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

Market Specifications

BTCUSD

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 an out_fee. The mid_fee is the minimum fee that is charged when the pool is maximally balanced: 0.05%. The out_fee is the maximum fee that is charged when the pool is imbalanced: 0.5%. Another important parameter is fee_gamma which controls how quickly fees change from mid_fee to out_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 7mo ago