{"componentChunkName":"component---src-pages-sips-sip-markdown-remark-frontmatter-sip-tsx","path":"/sips/sip-269/","result":{"data":{"markdownRemark":{"fileAbsolutePath":"/vercel/path0/content/sips/sip-269.md","frontmatter":{"sip":269,"sccp":null,"title":"Create OP-PERP","network":"Optimism","author":"bangrygoose (@bangrygoose)","type":"Governance","proposal":"https://snapshot.org/#/snxgov.eth/proposal/0xe36cb2d5c256e90d3c61199e6fa76492d79935281500436db6563863359f72e5","implementor":"MEB (@barrasso)","release":"Muhlifain v2.76 release","created":"2022/08/08","updated":null,"status":"Implemented"},"html":"

Simple Summary

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Create OP-PERP market on Optimism.

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Abstract

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This is a proposal to offer OP-PERP futures which track the price of $OP token.

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Motivation

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$OP is a popular asset among the Synthetix and Kwenta trading communities due to the fact that these projects run on the Optimism network. There may also be demand for an $OP perps product for hedging.

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Rationale

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Although the $OP token is relatively new and somewhat volatile, there is already acceptable liquidity and a Chainlink price feed for the token. Given the number of large holders including protocols which have been awarded $OP grants, $OP perps may have a unique use case, and could attract more short open interest than other cryptocurrency pairs.

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Specification

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
ExchangePairPriceSpread+2% Depth-2% Depth24h VolumeVolume %
 BingXOP/USDT$1.900.07%$2,998,081$3,280,525$7,596,1272.87%
 DcoinOP/USDT$1.890.06%$1,675,522$1,706,083$7,783,1872.94%
 BinanceOP/USDT$1.890.05%$1,501,685$1,472,644$96,920,87136.61%
 DigifinexOP/USDT$1.890.17%$1,423,341$1,943,486$21,046,9797.95%
 TokoCryptoOP/USDT$1.900.05%$1,206,161$1,926,697$54,3130.02%
 MEXC GlobalOP/USDT$1.890.21%$992,407$1,170,752$567,8350.21%
 MEXC GlobalOP/USDC$1.890.07%$973,435$1,081,439$244,7170.09%
 BitgetOP/USDT$1.890.08%$746,272$752,548$144,1560.05%
 TokoCryptoOP/BUSD$1.890.05%$678,860$619,081$14,2350.01%
 WhiteBITOP/USDT$1.890.04%$666,810$792,473$3,451,9441.30%
 BinanceOP/BUSD$1.900.05%$661,814$676,250$19,269,9527.28%
 Coinbase ExchangeOP/USD$1.890.11%$568,980$793,645$2,899,3641.10%
 BitkubOP/THB$1.890.39%$503,764$51$10,673,8984.03%
 Huobi GlobalOP/USDT$1.890.04%$461,076$622,714$4,183,3611.58%
 BKEXOP/USDT$1.890.04%$460,715$96,032$4,649,1481.76%
 OKXOP/USDT$1.900.06%$269,495$562,991$37,848,29614.30%
 BitforexOP/USDT$1.900.09%$228,604$241,087$633,5780.24%
 KuCoinOP/USDT$1.890.11%$205,880$238,298$5,458,0772.06%
 Uniswap (Optimism)WETH/OP$1.910.6%$178,519$177,983$4,850,1211.83%
 Gate.ioOP/USDT$1.890.11%$144,962$252,679$9,831,2423.71%
 BTCEXOP/USDT$1.900.11%$109,629$127,472$823,1670.31%
 TokoCryptoOP/BTC*$1.960.11%$74,960$75,588$6.140.00%
 Bybit (Spot)OP/USDT$1.890.08%$72,269$80,507$1,404,4270.53%
 BinanceOP/BTC$1.900.08%$69,110$105,516$1,455,0720.55%
 Crypto.com ExchangeOP/USDT$1.890.21%$46,004$56,701$1,356,3860.51%
 BitMartOP/USDT$1.900.39%$43,668$49,370$1,794,9690.68%
 OKXOP/USDC$1.890.16%$38,778$36,987$12,683,5544.79%
 Crypto.com ExchangeOP/USDC$1.890.45%$38,701$48,148$21,1860.01%
 Uniswap (Optimism)WETH/OP$1.910.6%$37,647$37,533$102,3740.04%
 OkcoinOP/USD$1.900.13%$36,861$36,242$12,1080.00%
 BinanceOP/BNB$1.890.19%$34,817$35,984$205,2810.08%
 Uniswap (Optimism)OP/USDC$1.900.6%$28,904$28,817$1,580,8970.60%
 Crypto.com ExchangeOP/BTC$1.900.41%$26,107$25,964$5,1660.00%
 BitMartOP/USDC$1.900.43%$19,075$23,677$1,831,8990.69%
 AEX OP/USDT$1.910.31%$12,321$10,099$150,3700.06%
 KuCoinOP/USDC$1.890.26%$12,127$42,401$185,1250.07%
 PhemexOP/USDT$1.890.12%$11,610$16,667$924,4400.35%
 BinanceOP/ETH$1.900.19%$11,532$13,114$246,1330.09%
 AscendEX (BitMax)OP/USDT$1.900.45%$10,694$16,345$106,0090.04%
 ZipSwapWETH/OP Live Chart$1.900.6%$6,623$6,603$34,3500.01%
 Uniswap (Optimism)OP/USDC$1.910.6%$6,112$6,093$5,9280.00%
 BiboxOP/USDT$1.890.05%$6,007$6,678$217,9950.08%
 BigONEOP/USDT$1.900.26%$2,127$1,781$288,2760.11%
 XT.COMOP/USDT$1.890.06%$1,767$192$178,4430.07%
 BinanceOP/EUR$1.901.9%$1,514$11,728$130,5430.05%
 Gate.ioOP/ETH$1.900.5%$1,388$10,568$25,5470.01%
 Uniswap (Optimism)OP/USDC$1.900.61%$816$813$293,9510.11%
 CoinExOP/USDT$1.911.19%$714$5,912$56,2830.02%
 BitrueOP/USDT$1.901.45%$435$57$575,1180.22%
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Test Cases

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n/a

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Configurable Values (Via SCCP)

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Open interest caps, fee tier.

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Copyright

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Copyright and related rights waived via CC0.

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