10000x Futures
10000x Futures is Catapult's crypto futures product: you put up a stake, pick a leverage and go long or short on the live price of a real coin such as BTC or ETH, with up to 10,000x leverage.
In the app it is called Futures. These docs call it 10000x Futures to keep it apart from leveraged trading on Synthetic markets.
How 10000x Futures differs from an exchange perpetual
10000x Futures looks like a perpetual futures terminal, but the rules are simpler and fixed at the moment you open:
| 10000x Futures | Typical exchange perpetual | |
|---|---|---|
| What you risk | Your stake, never more | Your margin, and you can add more |
| Liquidation price | Fixed at open, a set distance from the entry price | Moves with margin, fees and funding |
| Maximum profit | Capped at a multiple of your stake | Unlimited |
| Loss before liquidation | Grows in a straight line from 0% at entry to 100% at the liquidation price | Leverage × price move |
| Cost of holding | Holding fee: a fixed share of the stake per minute | Funding rate every few hours |
| Lifetime | Closes on its own after the mode's max lifetime | Open until you close it |
| Price | Composite index from several major exchanges, 4 updates per second | That exchange's own mark price |
Each position runs on its own clock. There are no rounds and no shared start time.
Assets
Every enabled asset, with the most you can have staked on it at once:
| Asset | Max open stake per asset |
|---|---|
| BTC | $100 |
| DOGE | $100 |
| ETH | $100 |
| HYPE | $100 |
| SOL | $100 |
| XRP | $100 |
Modes
A mode is one leverage setting of an asset, with its own maximum profit, liquidation distance, fees and max lifetime. Each asset offers up to 4 modes, and you pick one with the leverage slider.
The slider starts at the asset's highest leverage. Move it left before you open if you want a wider liquidation distance.
Higher leverage moves your profit faster, but the liquidation price is much closer and the profit cap is lower. The table shows the price levels of every mode. "Take-profit move" is how far the price must move in your favour to reach the maximum profit. "Liquidation distance" is how far it may move against you before the stake is lost.
- BTC
- ETH
- SOL
- XRP
- DOGE
- HYPE
| Leverage | Side | Max profit (× stake) | Take-profit move | Liquidation distance | Max lifetime |
|---|---|---|---|---|---|
| 100x | Long and short | 50x | 50% | 0.25% | 24 h |
| 1,000x | Long and short | 30x | 3% | 0.025% | 24 h |
| 5,000x | Long and short | 15x | 0.3% | 0.0025% | 24 h |
| 10,000x | Long and short | 10x | 0.1% | 0.0002% | 24 h |
| Leverage | Side | Max profit (× stake) | Take-profit move | Liquidation distance | Max lifetime |
|---|---|---|---|---|---|
| 100x | Long and short | 50x | 50% | 0.25% | 24 h |
| 1,000x | Long and short | 30x | 3% | 0.025% | 24 h |
| 2,000x | Long and short | 20x | 1% | 0.0125% | 24 h |
| 5,000x | Long and short | 10x | 0.2% | 0.005% | 24 h |
| Leverage | Side | Max profit (× stake) | Take-profit move | Liquidation distance | Max lifetime |
|---|---|---|---|---|---|
| 100x | Long and short | 50x | 50% | 0.05% | 24 h |
| 250x | Long and short | 30x | 12% | 0.02% | 24 h |
| 500x | Long and short | 20x | 4% | 0.015% | 24 h |
| 750x | Long and short | 10x | 1.3333% | 0.01% | 24 h |
| Leverage | Side | Max profit (× stake) | Take-profit move | Liquidation distance | Max lifetime |
|---|---|---|---|---|---|
| 100x | Long and short | 50x | 50% | 0.05% | 24 h |
| 250x | Long and short | 30x | 12% | 0.02% | 24 h |
| 500x | Long and short | 20x | 4% | 0.015% | 24 h |
| 750x | Long and short | 10x | 1.3333% | 0.01% | 24 h |
| Leverage | Side | Max profit (× stake) | Take-profit move | Liquidation distance | Max lifetime |
|---|---|---|---|---|---|
| 100x | Long and short | 50x | 50% | 0.05% | 24 h |
| 250x | Long and short | 30x | 12% | 0.02% | 24 h |
| 500x | Long and short | 20x | 4% | 0.015% | 24 h |
| 750x | Long and short | 10x | 1.3333% | 0.01% | 24 h |
| Leverage | Side | Max profit (× stake) | Take-profit move | Liquidation distance | Max lifetime |
|---|---|---|---|---|---|
| 100x | Long and short | 50x | 50% | 0.05% | 24 h |
| 250x | Long and short | 30x | 12% | 0.02% | 24 h |
| 500x | Long and short | 20x | 4% | 0.015% | 24 h |
| 750x | Long and short | 10x | 1.3333% | 0.01% | 24 h |
The fees of each mode are listed on 10000x Futures fees. A position keeps the values of the mode it was opened with until it closes.
How a trade works
You choose a coin, a stake and a mode, then go long or short. The position opens at the next index price after your request, and its liquidation and take-profit prices are fixed from that entry. It then ends in one of five ways: the take-profit cap, liquidation, the max lifetime, the holding fee using up the stake, or your own close. Details: Open and close a position and How a position ends.
FAQ
Is the price real?
Yes. 10000x Futures follows a composite index of real exchange prices for each coin. It is not a generated chart. See Price index and execution.
Can I lose more than my stake?
No. The most you can lose on a position is the stake you put in. There are no margin calls and no negative balances.
Do I own the coin?
No. A 10000x Futures position is a bet on the price move, settled in USDT. Nothing is bought or sold on an exchange for you.
Can I trade 10000x Futures through the API?
No. The public API covers Synthetic markets only. You trade 10000x Futures in the Catapult app.
Why does the same move pay differently on BTC and DOGE?
Each asset has its own modes. At the same leverage, BTC and DOGE can differ in liquidation distance, holding fee and fees. Compare the tables above before you open.