Contract Specifications
Consolidated reference for every Paragon market — shared contract mechanics and market specifications.
Contract Basics
All Paragon markets share the same contract mechanics:
Contract Type
Perpetual futures (no expiry)
Quote Currency
USDC
Settlement
Cash-settled
Position Unit
USDC notional value
PnL Formula
(Exit Price − Entry Price) × Position Size
Example: a $1,000 position at 10x leverage requires $100 margin and yields $10 PnL per 1% move in the underlying.
Rates markets track a rate rather than a price. The index is expressed in percent, margin and settlement remain in USDC, and a long position gains when the rate rises — long the yield is short the bond.
Market Specifications
Pre-Listing markets: public filings and offering terms may be incomplete, preliminary, or later revised. The values shown for a Pre-Listing market should not be treated as indicative market capitalizations or fair-value references for the underlying issuer. The ultimate public price, or the number of fully diluted shares, may differ materially. See the Pre-Listing Risk Disclosure.
UNITREE
Pre-Listing
Tracks the value of one share of Hangzhou Yushu Technology Co., Ltd. (Unitree Robotics) ahead of its public listing. Unitree develops quadruped and humanoid robots, motion-control actuators, and embodied AI systems for research, industrial, and consumer applications.
10x
$25M
0.006
Isolated
—
24/7 until listing
±10%
$68.80
10 (per direction)
Aug 17, 2026
60 days
10Y
—
Tracks the yield on the most recently issued (on-the-run) 10-year US Treasury note, expressed in percent. The standard reference for long-term US dollar borrowing costs.
20x
$25M
0.6
Isolated
08:00–17:00 ET, Mon–Fri
17:00–08:00 ET, weekends, and holidays
±5%
—
0
—
—
BTC.D
—
Tracks Bitcoin's share of total crypto market capitalization (0–100%). A core gauge of capital rotation between Bitcoin and the broader altcoin market.
20x
$10M
0.6
Cross / Isolated
24/7
—
—
—
—
—
—
TOTAL2
—
Tracks the aggregate market capitalization of all crypto assets excluding Bitcoin. A broad proxy for altcoin market direction.
20x
$5M
0.6
Cross / Isolated
24/7
—
—
—
—
—
—
OTHERS
—
Tracks the aggregate market capitalization of all crypto assets excluding the top 10. Exposure to mid- and small-cap rotation.
10x
$5M
0.6
Cross / Isolated
24/7
—
—
—
—
—
—
AAOI
Listed
Tracks the value of one share of Applied Optoelectronics. Applied Optoelectronics designs and manufactures lasers, optical transceivers, and networking equipment used across AI data centers, cloud networks, cable broadband, telecom, and fiber access systems worldwide.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
AVGO
Listed
Tracks the value of one share of Broadcom. Broadcom designs and supplies a broad range of semiconductors and infrastructure software, powering data centers, AI systems, cloud networks, and wireless devices worldwide.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
CIEN
Listed
CIEN tracks the value of one share of Ciena. Ciena builds optical networking systems, routing platforms, and software that help cloud providers, telecom operators, and data centers move large volumes of data across high-speed networks worldwide.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
COHR
Listed
Tracks the value of one share of Coherent. Coherent designs lasers, optical transceivers, and photonics components that power AI data center interconnects, optical networking, semiconductor manufacturing, and industrial systems worldwide.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
CRDO
Listed
Tracks the value of one share of Credo Technology. Credo provides high-speed connectivity solutions, including active electrical cables, SerDes, and retimers, that move data efficiently across AI data centers and hyperscale networks worldwide.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
CRWD
Listed
Tracks the value of one share of CrowdStrike. CrowdStrike provides cloud-native cybersecurity software that helps organizations protect endpoints, identities, cloud workloads, and data while detecting and responding to threats across enterprise environments worldwide.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
GLW
Listed
Tracks the value of one share of Corning. Corning manufactures specialty glass and optical fiber used in AI data center connectivity, telecom networks, display screens, and advanced materials worldwide.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
IREN
Listed
IREN tracks the value of one share of IREN Limited. IREN develops and operates renewable-powered data centers for AI cloud computing and Bitcoin mining, providing GPU infrastructure and high-performance computing capacity across North America.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
LRCX
Listed
Tracks the value of one share of Lam Research. Lam Research builds wafer fabrication equipment for etch, deposition, and cleaning processes essential to manufacturing the advanced chips that power AI, data centers, and mobile devices worldwide.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
NET
Listed
Tracks the value of one share of Cloudflare. Cloudflare provides cloud networking, cybersecurity, content delivery, and developer infrastructure that helps businesses secure and accelerate websites, applications, and AI workloads worldwide.
10x
$25M
0.6
Isolated
Regular only, Mon–Fri 9:30AM–4PM ET
Pre-Market, Post-Market, Overnight, weekends, and holidays
±10%
—
0
—
—
RDDT
Listed
Tracks the value of one share of Reddit. Reddit operates a community-driven social platform organized around user-created forums covering news, entertainment, and niche interests, powering advertising, community commerce, and AI content licensing worldwide.
10x
$25M
0.6
Isolated
Regular only, Mon–Fri 9:30AM–4PM ET
Pre-Market, Post-Market, Overnight, weekends, and holidays
±10%
—
1
—
—
SMCI
Listed
Tracks the value of one share of Supermicro. Supermicro designs and manufactures high-performance servers, GPU systems, storage, networking, and liquid-cooling infrastructure used to build and operate AI, cloud, high-performance computing, and enterprise data centers worldwide.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
STX
Listed
Tracks the value of one share of Seagate Technology. Seagate manufactures hard drives and mass-capacity storage systems used to store and manage data across AI infrastructure, cloud data centers, enterprise systems, and edge applications worldwide.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
TER
Listed
Tracks the value of one share of Teradyne. Teradyne makes automated test equipment and robotics used to validate semiconductors, powering quality assurance for the chips behind AI systems, data centers, and consumer electronics worldwide.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
VST
Listed
Tracks the value of one share of Vistra. Vistra generates and sells electricity through a diverse fleet of nuclear, natural gas, coal, solar, and battery storage facilities, powering homes, businesses, and data centers across the United States.
10x
$25M
0.6
Isolated
24/5, Sun 8PM–Fri 8PM ET
Fri 8PM–Sun 8PM ET, and holidays
±10%
—
0
—
—
All market parameters are subject to change as liquidity and market conditions evolve — OI caps, in particular, are expected to rise over time. Updates are published in advance through Paragon's official channels.
Last updated