> For the complete documentation index, see [llms.txt](https://docs.stratium.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.stratium.xyz/hip-3-perpetuals/contract-specifications.md).

# Contract Specifications

Technical specifications for Stratium perpetual futures contracts.

### Common Parameters

| Parameter      | Value                                      |
| -------------- | ------------------------------------------ |
| 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 |
| Funding        | Per Hyperliquid standard (hourly)          |
| Margin Modes   | Cross, Isolated                            |

### Per-Market Specifications

Detailed specifications for each market (leverage limits, tick size, minimum order size, price source, rebalancing frequency) will be published here as markets launch.

Each market's parameters are configured based on the underlying's volatility profile, update frequency, and liquidity characteristics. Structured product underlyings have different risk parameters than standard token perps.

### Fee Schedule

HIP-3 fees follow the same schedule as base Hyperliquid perpetuals. Fee rates are not configurable by deployers.

| Tier | 14-Day Volume | Taker  | Maker  |
| ---- | ------------- | ------ | ------ |
| 0    | --            | 0.090% | 0.030% |
| 1    | >5M           | 0.080% | 0.024% |
| 2    | >25M          | 0.070% | 0.016% |
| 3    | >100M         | 0.060% | 0.008% |
| 4    | >500M         | 0.056% | 0.000% |
| 5    | >2B           | 0.052% | 0.000% |
| 6    | >7B           | 0.048% | 0.000% |

Volume tiers are denominated in USD.