Contract Specifications
Technical specifications for Paragon perpetual futures contracts.
Key Specs
Contract Type
Perpetual futures (no expiry)
Quote Currency
USDC
Settlement
Cash-settled
Position Unit
USDC notional value
PnL Formula
(Exit Price - Entry Price) x Position Size
Example: A $1,000 position at 10x leverage requires $100 margin and yields $10 PnL per 1% index move.
Index Specifications
TOTAL2
Full Name
Total Crypto Market Cap ex-BTC
Constituents
Top 125 assets by market cap (excluding BTC)
Weighting
Market cap weighted
Rebalancing
Daily
Data Sources
Multiple CEX and DEX price feeds
Calculation
Sum (Price x Circulating Supply)
BTC.D
Full Name
Bitcoin Dominance Index
Calculation
BTC Market Cap / TOTAL Market Cap x 100
Range
0-100%
Precision
2 decimal places
Data Sources
Multiple CEX and DEX price feeds
OTHERS
Full Name
Total Crypto Market Cap ex-BTC-ETH
Constituents
Top 125 assets by market cap (excluding BTC, ETH)
Weighting
Market cap weighted
Rebalancing
Daily
Data Sources
Multiple CEX and DEX price feeds
Calculation
Sum (Price x Circulating Supply)
Mark Price
Mark price determines unrealized PnL, margin ratios, and liquidation triggers. It is derived from the Paragon oracle network using the index price (fair value), funding rate adjustments, and smoothing mechanisms to prevent manipulation.
Index Price vs Perpetual Price
The index price reflects the calculated value of the underlying index. The perpetual price is the current trading price of the futures contract. The difference between them (basis) drives funding rate payments, incentivizing convergence toward fair value.
For oracle methodology details, see Oracles.
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