- FTX Token (FTT) is not available in the United States or other prohibited jurisdictions. If you are located in, incorporated or otherwise established in, or a resident of the United States of America, you are not permitted to transact in FTT.
- Trading on FTX is not available in the United States or other prohibited jurisdictions. If you are located in, incorporated or otherwise established in, or a resident of the United States of America, you are not permitted to trade on FTX.
- FTX retains the final right to interpretation of its rules and conditions on these and all contracts.
- FTX retains the final right to modify terms of its rules and conditions on these and all contracts.
- Trading OLY2021 is not permitted by residents of the United States, Canada, the European Union, the United Kingdom, Singapore, the UAE, Cambodia, Turkey, mainland China and Hong Kong SAR, and other FTX prohibited jurisdictions.
What is the Olympics 2021 contract?
OLY2021 is a futures contract on FTX. OLY2021 expires to $1 if the Olympics occur in 2021, and $0 otherwise
FTX defines the Olympics to have occurred if https://www.olympic.org/olympic-results has been updated by August 9, 2021 to reflect at least 15 medals (across any sports) as having been awarded at the 2021 Tokyo Olympic Games, across any set of pages analogous to this one: https://www.olympic.org/pyeongchang-2018/biathlon/mens-10km-sprint.
FTX retains the final right to interpretation of this contract. FTX will not entertain any objections to this contract’s settlement mechanisms. Attempting to object will result in immediate account closure. FTX may modify the terms at any point. By trading these contracts, you are agreeing to abide by FTX’s interpretations of them.
How much margin is required for the OLY2021 contract?
The risk profile of OLY2021 contract is different from BTC: it has significantly higher chances of making large moves (to $0 or $1).
All risk calculations for these contracts are based on the corresponding contract's "margin price". Refer to the table above, OLY2021's margin price is $5.
|Contract||Margin Price||Position Limit Weight||Initial Margin Factor|
Because of this, the required margin for one contract of OLY2021 is as follows:
Initial Margin Fraction Requirement (IMF): Min(standard IMF * size * margin price, size * mark price + (fees that would be paid to close if all taker) * margin price) / size.
Roughly speaking, Initial margin is Margin Price / Leverage.
Maintenance Margin Fraction Requirement (MMF):
- If Long: Min(standard MMF, Mark Price / Margin Price)
- If Short: Min(standard MMF, (1 - Mark Price) / Margin Price)
For info about IMF and MMF (the IMF and MMF used for our standard futures), visit our Complete Futures Specs article.
Note that FTX reserves the right to increase margin requirements, with advanced notice.
What are the fees for the OLY2021 contract?
Fees for President 2024 contracts are based on this formula:
Fee = Base Fee Rate * max($0.05, min($5, fill price * 50, [1 - fill price] * 50))
So if your base fee rate was 0.05% and you bought one contract OLY2021 for $0.52, you'd pay $0.0025 in fees. If you bought one contract of OLY2021 for $0.99 or for $0.01, you'd pay $0.00025 in fees.
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