AscendEX DEX (Futures Trading)

What is AscendEX DEX (Futures Trading)?

AscendEX DEX (Futures Trading) is a decentralized exchange (DEX) featuring futures trading launched by AscendEX in collaboration with Orderly Network. It supports the seamless execution of on-chain futures trading for various cryptocurrencies. Leveraging the infrastructure of Orderly Network, AscendEX DEX combines the order book trading interface of centralized exchanges (CEX) with the decentralization of DEX. This provides you with a seamless, efficient, and smooth on-chain futures trading experience.

AscendEX DEX Overview 

I. Futures Information

II. Futures Trading Product Explained

1.   AscendEX DEX offers USDC-margined perpetual futures contracts, where the stablecoin USDC is the quote and settlement currency. It operates 24/7 without expiration.

2.   AscendEX DEX only accepts USDC as the futures collateral, and supports trading of various underlying assets. >>Click here to learn about the Margin, Leverage & PnL on AscendEX DEX. 

3.   AscendEX DEX supports on-chain futures trading of multiple cryptocurrencies. View details on the Futures Markets page.

4.   AscendEX DEX offers multiple leverage, with a maximum of 50x.

5.   AscendEX DEX supports various on-chain digital wallets, including WalletConnect, MetaMask, OKX Wallet, Bitget Wallet, and Coinbase Wallet. 

6.   AscendEX DEX supports several mainnets, including Base, Optimism, and Arbitrum.

7.   AscendEX DEX supports 4 types of orders: Limit Order, Market Order, Stop Limit, and Stop Market. >>Learn more here.

8.   Trading fee rates are: Maker: 0.03%, Taker: 0.06%.

9.   AscendEX DEX offers perpetual futures contracts, which incur funding fees. The funding fees are settled every 8 hours, at UTC 0:00, UTC 8:00, and UTC 16:00. If there is no open position at the settlement time, no funding fees will be paid or received. The funding rates can be viewed here. 

>>What are Funding Rates?

>>How are Funding Rates Calculated?

10.  For a given contract on AscendEX DEX, the index price is the volume-weighted average of the underlying asset prices listed on major spot exchanges, including Binance, OKX, HTX, Gate.io, Bybit, and KuCoin. The mark price is calculated based on the index price, with lower volatility, and is used as the basis in the calculation of forced liquidation. Check the calculation method below:

>>Mark Price, Index Price, and Last Price on AscendEX DEX

11.  AscendEX DEX adopts a decentralized settlement mechanism. When your DEX Futures account’s margin ratio falls below the maintenance margin ratio, a forced liquidation will be triggered. The affected positions will be transferred to the liquidator at a discounted price, rather than being directly sold in the order book. Any user with an Orderly account and sufficient margin can become a liquidator.

>>Liquidations on AscendEX DEX