SCCP-2064: Update Perps V2 Parameters

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Simple Summary

This SCCP proposes to update the perps v2 parameters as per the below:

Skew Scale

Market Current Scale Proposed Scale Current Slippage Proposed Slippage Cex Slippage
PERP 18.75M 9M 37 77 41
DYDX 12M 9M 12 16 8
SUI 67.5M 50.6M 12 16 8

Slippage in bp per 100k$ trade

Max Market Value

Market Current MV Proposed MV Propose MV$ Cex OI
DYDX 1.6M 1.9M 6.5M 19M
SUI 1M 2M 1.25M 52M


Below is a description of the parameter changes propopsed in the SCCP:

  • MaxMarketValue is the maximum possible open interest on any given side of a perp market.
  • skewScale is the scaling factor of the relevant market in the underlying currency for computing PD and Funding Rates.


The proposed parameter changes on skew scale aim at increasing the incentive on arbitrageurs to arbitrage the skew by targeting an effective liquidity comfortably below liquidity available on centralized exchanges. While the motivation behind the changes on max market value levels are done in order to align the oi caps with historical utilization (after incorporating a buffer).


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