SIP-269: Create OP-PERP

Author
StatusImplemented
TypeGovernance
NetworkOptimism
ImplementorMEB (@barrasso)
ReleaseMuhlifain v2.76 release
ProposalLoading status...
Created2022-08-08

Simple Summary

Create OP-PERP market on Optimism.

Abstract

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

Motivation

$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.

Rationale

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.

Specification

Exchange Pair Price Spread +2% Depth -2% Depth 24h Volume Volume %
 BingX OP/USDT $1.90 0.07% $2,998,081 $3,280,525 $7,596,127 2.87%
 Dcoin OP/USDT $1.89 0.06% $1,675,522 $1,706,083 $7,783,187 2.94%
 Binance OP/USDT $1.89 0.05% $1,501,685 $1,472,644 $96,920,871 36.61%
 Digifinex OP/USDT $1.89 0.17% $1,423,341 $1,943,486 $21,046,979 7.95%
 TokoCrypto OP/USDT $1.90 0.05% $1,206,161 $1,926,697 $54,313 0.02%
 MEXC Global OP/USDT $1.89 0.21% $992,407 $1,170,752 $567,835 0.21%
 MEXC Global OP/USDC $1.89 0.07% $973,435 $1,081,439 $244,717 0.09%
 Bitget OP/USDT $1.89 0.08% $746,272 $752,548 $144,156 0.05%
 TokoCrypto OP/BUSD $1.89 0.05% $678,860 $619,081 $14,235 0.01%
 WhiteBIT OP/USDT $1.89 0.04% $666,810 $792,473 $3,451,944 1.30%
 Binance OP/BUSD $1.90 0.05% $661,814 $676,250 $19,269,952 7.28%
 Coinbase Exchange OP/USD $1.89 0.11% $568,980 $793,645 $2,899,364 1.10%
 Bitkub OP/THB $1.89 0.39% $503,764 $51 $10,673,898 4.03%
 Huobi Global OP/USDT $1.89 0.04% $461,076 $622,714 $4,183,361 1.58%
 BKEX OP/USDT $1.89 0.04% $460,715 $96,032 $4,649,148 1.76%
 OKX OP/USDT $1.90 0.06% $269,495 $562,991 $37,848,296 14.30%
 Bitforex OP/USDT $1.90 0.09% $228,604 $241,087 $633,578 0.24%
 KuCoin OP/USDT $1.89 0.11% $205,880 $238,298 $5,458,077 2.06%
 Uniswap (Optimism) WETH/OP $1.91 0.6% $178,519 $177,983 $4,850,121 1.83%
 Gate.io OP/USDT $1.89 0.11% $144,962 $252,679 $9,831,242 3.71%
 BTCEX OP/USDT $1.90 0.11% $109,629 $127,472 $823,167 0.31%
 TokoCrypto OP/BTC *$1.96 0.11% $74,960 $75,588 $6.14 0.00%
 Bybit (Spot) OP/USDT $1.89 0.08% $72,269 $80,507 $1,404,427 0.53%
 Binance OP/BTC $1.90 0.08% $69,110 $105,516 $1,455,072 0.55%
 Crypto.com Exchange OP/USDT $1.89 0.21% $46,004 $56,701 $1,356,386 0.51%
 BitMart OP/USDT $1.90 0.39% $43,668 $49,370 $1,794,969 0.68%
 OKX OP/USDC $1.89 0.16% $38,778 $36,987 $12,683,554 4.79%
 Crypto.com Exchange OP/USDC $1.89 0.45% $38,701 $48,148 $21,186 0.01%
 Uniswap (Optimism) WETH/OP $1.91 0.6% $37,647 $37,533 $102,374 0.04%
 Okcoin OP/USD $1.90 0.13% $36,861 $36,242 $12,108 0.00%
 Binance OP/BNB $1.89 0.19% $34,817 $35,984 $205,281 0.08%
 Uniswap (Optimism) OP/USDC $1.90 0.6% $28,904 $28,817 $1,580,897 0.60%
 Crypto.com Exchange OP/BTC $1.90 0.41% $26,107 $25,964 $5,166 0.00%
 BitMart OP/USDC $1.90 0.43% $19,075 $23,677 $1,831,899 0.69%
 AEX  OP/USDT $1.91 0.31% $12,321 $10,099 $150,370 0.06%
 KuCoin OP/USDC $1.89 0.26% $12,127 $42,401 $185,125 0.07%
 Phemex OP/USDT $1.89 0.12% $11,610 $16,667 $924,440 0.35%
 Binance OP/ETH $1.90 0.19% $11,532 $13,114 $246,133 0.09%
 AscendEX (BitMax) OP/USDT $1.90 0.45% $10,694 $16,345 $106,009 0.04%
 ZipSwap WETH/OP Live Chart $1.90 0.6% $6,623 $6,603 $34,350 0.01%
 Uniswap (Optimism) OP/USDC $1.91 0.6% $6,112 $6,093 $5,928 0.00%
 Bibox OP/USDT $1.89 0.05% $6,007 $6,678 $217,995 0.08%
 BigONE OP/USDT $1.90 0.26% $2,127 $1,781 $288,276 0.11%
 XT.COM OP/USDT $1.89 0.06% $1,767 $192 $178,443 0.07%
 Binance OP/EUR $1.90 1.9% $1,514 $11,728 $130,543 0.05%
 Gate.io OP/ETH $1.90 0.5% $1,388 $10,568 $25,547 0.01%
 Uniswap (Optimism) OP/USDC $1.90 0.61% $816 $813 $293,951 0.11%
 CoinEx OP/USDT $1.91 1.19% $714 $5,912 $56,283 0.02%
 Bitrue OP/USDT $1.90 1.45% $435 $57 $575,118 0.22%

Test Cases

n/a

Configurable Values (Via SCCP)

Open interest caps, fee tier.

Copyright and related rights waived via CC0.