Logan Paul vs Floyd Mayweather

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Notes

  1. 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.
  2. 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.
  3. FTX retains the final right to interpretation of its rules and conditions on these and all contracts.
  4. FTX retains the final right to modify terms of its rules and conditions on these and all contracts.
  5. Trading LOGAN2021 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 LOGAN 2021 contract, and how does it expire?

There is a special exhibition boxing match scheduled between Floyd Mayweather and Logan Paul on June 6, 2021. If, by June 7, 2021, Logan Paul has been announced the official winner of an exhibition match against Floyd Mayweather according to the match referee and the live television broadcast on Showtime, LOGAN2021 will expire to 1. In any other circumstance (if Floyd Mayweather has been announced the official winner, if there is a draw, if no match exists takes place by the start of 2022 UTC, if there is no official ruling on the winner, etc), it will expire to 0. If there are multiple matches, the first that takes place will determine the settlement of the LOGAN2021 contract.

 

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 LOGAN2021 contract?

The risk profile of LOGAN2021 contract is different from BTC: it has significantly higher chances of making large moves (to $0 or $1).

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All risk calculations for these contracts are based on the corresponding contract's "margin price". Refer to the table below, LOGAN2021's margin price is $5.

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Because of this, the required margin for one contract of LOGAN2021 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 LOGAN2021 contract?

Fees 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 LOGAN2021 for $0.52, you'd pay $0.0025 in fees.  If you bought one contract of LOGAN2021 for $0.99 or for $0.01, you'd pay $0.00025 in fees.

 

 

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