“Due” + “Derivatives” + “Exchange” = DueDEX
In Merriam-Webster Dictionary, Due means:
appropriate (e.g.: with all due respect)
adequate (e.g.: give the matter due attention)
regular, lawful (e.g.: due proof of loss)
We name our exchange DueDEX is to set our ultimate goal as providing a Fair Crypto Derivatives Trading platform.
We aim to create the next generation of financial system, cryptoly. By creating a fair and secure platform, we empower people around the world through fair trading of crypto derivatives.
What does DueDEX offer?
A Perpetual Swap is an innovative derivative product. It trades like spot, tracking the underlying Index Price closely. It is also very similar to traditional Futures, but it doesn’t have an expiry date, so there is no settlement. 24/7 trading allows traders to open a position or close a position whenever they like to.
Up to 100x Leverage
DueDEX fully understands different risk tolerance and preference of trading experience of our valued users. We offer up to 100x leverage Perpetual Swap Contracts.
On DueDEX, we use Fair Price, which is calculated based on the weighted average of latest prices (Index Price) from mainstream spot exchanges, like Bitstamp, Coinbase Pro and Kraken, and is used as Mark Price to calculate the unrealized PNL (Profit and Loss) and to decide when to trigger liquidation. The purpose of Fair Price Marking is to avoid unnecessary liquidations in the highly leveraged products, due to possible macilous market manipulation and temporary market illiquidity.
The Fair Price is equal to the underlying Index Price plus a decaying Funding basis rate.
The mechanics of Funding ensure that the price of Perpetual Swap Contract on DueDEX will track the underlying Index Price closely. Periodic payments are exchanged between the buyer and seller every 8 hours.
If the rate is positive, the long position holders will pay the short position holders, and vice versa if the rate is negative. You will only pay or receive the funding if you hold a position at that Funding Timestamp, which stands at 04:00 UTC, 12:00 UTC and 20:00 UTC every day.
DueDEX offers two different methods of margin: Isolated Margin and Cross Margin. Cross Margining is the process of offsetting positions whereby excess margin from one position is transferred to another position to satisfy margin maintenance requirements. Isolated Margining means the margin accredited to a position which is restricted to a certain amount.
Cross Margin mode is the initial default setup for all positions. But users can switch to Isolated Margin by using the leverage slider in the Place Order Dashboard. The leftmost mode is Cross Margin mode, then, you can slide right to the Isolated Margin mode, the more to the right, the higher leverage. The higher the leverage, the less margin is assigned to that position, the higher risks.
In time of liquidation, if DueDEX is unable to liquidate the position at the bankruptcy price, DueDEX will first spend some Insurance Fund on aggregating the position in the market in an attempt to close it. If this still does not close the liquidated order, it will then lead to an Auto-Deleveraging event, which will automatically deleverage the positions owned by opposing traders according to profit and leverage priority.
Demo Account (Testnet)
DueDEX Testnet (testnet.duedex.com) is a great tool to learn how to trade and test your new trading strategies on DueDEX.