On EQUOS, the Exchange Index serves as a bound for the Perpetual Mark Price, such that if EQUOS Perpetual prices diverge too far from the Exchange Index, the Perpetual Mark Price is set to the Exchange Index +/- a spread. For more information on marking, see Marking.

Calculation

The Exchange Index is calculated using the last traded spot prices from several exchanges, called constituents. EQUOS calculates and updates the Exchange Index on a continuous basis, taking into account the latest received data points from each constituent. If the timestamp on a data point from any constituent is older than 3 seconds then the data point is excluded from the calculation. An exception is made for the USDUSDT pair, on which there is no limit on latency of the data.

All values are capped at +/- 0.50% from the median of all eligible (not discarded as per the above) constituent prices. The Exchange Index is then calculated as the simple average of all eligible and, where needed, adjusted prices. If no constituent returns an eligible price, the Exchange Index is set to the last calculated Exchange Index.

Indices

BTC

For the EQUOS BTC Perpetual contract the Exchange Index consists of the below spot pairs on the following exchanges, equally weighted and converted into USD:

Exchange

Product (Spot Pair)

Binance

BTC/USDT

Coinbase

BTC/USD

Bitstamp

BTC/USD

Kraken

XBT/USD

Gemini

BTC/USD

ETH

Exchange

Product (Spot Pair)

Binance

ETH/USDT

Kraken

ETH/USD

Coinbase

ETH/USD

Gemini

ETH/USD

Bitstamp

ETH/USD

USDT Conversion

The price for USD vs USDT is taken from Kraken with no time limit, the price for USD vs USDC is set at 1.

For further assistance or more information, please contact our Customer Support team via help@equos.io or click on the chat widget at the bottom right-hand side of the EQUOS page.

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