1. Asset Scope
What instruments are available at launch?
Here is a list of instruments available for trading on Crypto.com Exchange.
We continuously validate and review these contract specs from time to time. Please refer to this doc for updates: Derivatives Trading.
How are these different from crypto perps?
These perpetuals reference real-world assets (commodities, equity ETFs) rather than crypto tokens. Key differences:
Dimension | Commodity, Equity Index Perps | Crypto Perps |
Underlying asset | Real-world physical goods or traditional stock ETFs. | Digital native tokens and coins. |
Data feed | Rely on external data feed vendors (Pyth, Chainlink, ICE, Databento, etc) | Fetch price feeds from external crypto exchanges or oracles. |
Liquidity | Hyper-concentrated during standard TradFi hours; Extreme drop-off in liquidity during weekends and overnight sessions. | 24/7 global liquidity; Deepest during overlapping US/Asia trading hours but generally consistent. |
Contract rolling | Metals/Commodity/Equity Index Perps: Some underlyings track futures requiring monthly index rolls (WTI, NatGas, Copper). | None |
Underlying Trading hours | Tied to TradFi exchange hours (often paused on weekends or nights) | 24/7, no market or off-market hours for the underlying crypto asset. |
How are instruments categorized on the platform?
Two new market tags are added under the perpetual market:
Commodities - XAUUSD, XAGUSD, XPTUSD, XPDUSD, XCUUSD, CLUSD, NATGASUSD
Equity Index ETFs - QQQUSD, SPYUSD
2. Index Price
How is the index price calculated?
The index price is a weighted median of prices from multiple data feeds. Each instrument has bespoke index constituents. We continuously validate and review the index constituent from time to time, and you could check the latest index constituent information from: https://static2.crypto.com/exchange/assets/documents/Exchange - Index Constituent.pdf
Symbol | Oracle Composition |
XAUUSD | 33% Pyth + 33% Chainlink + 33% Binance Index + 1% CDC PAXG_USD |
XAGUSD | 34% Pyth + 33% Chainlink + 33% Binance Index |
XPTUSD | 50% Pyth + 49% Binance Index + 1% HL Mark |
XPDUSD | 50% Pyth + 49% Binance Index + 1% HL Mark |
XCUUSD | 98% Pyth + 1% Binance Mark + 1% HL Mark |
CLUSD | 98% Pyth + 1% HL Mark + 1% Binance Mark |
NATGASUSD | 98% Pyth + 1% HL Mark + 1% Binance Mark |
QQQUSD | 33% ICE + 33% Pyth + 33% Chainlink + 1% Binance Mark |
SPYUSD | 33% ICE + 33% Pyth + 33% Chainlink + 1% Binance Mark |
3. Mark Price
What is the mark price formula?
Same formula for existing crypto perps. Please refer to this doc for more details: Key Applicable Terms - Perpetuals
4. Funding Rate
How does the funding rate work during active hours?
Same formula as existing crypto perps. Please refer to this doc for more details: Funding and Session Settlement
How does the funding rate work during off-market hours?
During inactive hours, the funding rate switches to Default Premium Rate Mode:
Premium rate is set to a default value (not derived from mark - frozen index)
Current Default Premium rate = 0.02284% (per 4-hour funding interval)
5. Market Hours & Sessions for Underlying Assets
What are the CME commodity trading hours?
Applies to: Gold, Silver, Platinum, Palladium, Copper, WTI, Natural Gas
Parameter | Schedule |
Active session | Sunday 6:00 PM – Friday 5:00 PM ET |
Daily maintenance | Monday–Thursday 5:00–6:00 PM ET (1 hour) |
Weekly coverage | 68.5% (115h / 168h) |
Weekend blackout | ~49 hours (Friday 5 PM – Sunday 6 PM ET) |
What are the equity index (QQQ/SPY) trading sessions?
24/5 coverage with 4 distinct sessions:
Session | Hours (ET) |
Pre-market | Mon–Fri 4:00 AM – 9:30 AM |
Regular | Mon–Fri 9:30 AM – 4:00 PM |
Post-market | Mon–Fri 4:00 PM – 8:00 PM |
Overnight (Blue Ocean ATS) | Sun–Thu 8:00 PM – 4:00 AM |
After Hours | Weekends + holidays |
Weekend blackout: 48 hours (Friday 8 PM – Sunday 8 PM ET).
What are the market status values?
Status | Commodities | Indices |
Pre-market | N/A | Yes |
Regular | Yes | Yes |
Post-market | N/A | Yes |
Overnight | N/A | Yes |
After Hours | Yes | Yes |
What are the 2026 holiday schedules?
CME Holiday Closures (Gold, Silver, Platinum, Palladium, Copper, WTI, NatGas):
The timezone we use is Chicago Time. Please refer to CME Group Holiday and Trading Hours for detailed information.
NYSE/NASDAQ Holiday Closures (QQQ, SPY):
The timezone we use is Eastern Time. Please refer to NYSE/NASDAQ Holiday and Trading Hours and Blue Ocean ATS Holiday and Trading Hours for detailed information.
6. Rolling Mechanism
Which instruments require rolling?
Copper, WTI Crude Oil, and Natural Gas - these are based on futures contracts with expiry dates. Precious metals (Gold, Silver, Platinum, Palladium) do not have expiry and do not roll.
How does the roll work?
Rolling begins on the 5th business day of each month and completes over 5 consecutive business days via a linear weight transition from the current front-month contract to the next delivery month.
Day | Front-month | Next-month |
T-5 (5:30 PM ET) | 80% | 20% |
T-4 | 60% | 40% |
T-3 | 40% | 60% |
T-2 | 20% | 80% |
T (roll complete) | 0% | 100% |
7. Margin & Leverage
What margin modes are available?
User Type | Available Modes | Default |
Retail | Isolated Margin only | Isolated |
Non-retail | Isolated or Cross Margin | Cross (a separate account is required trade Perpetual Futures on Traditional Assets). |
8. UI Flow - Web & App
How do users find commodity and index perps?
Web:
Navigate to the Perpetual market.
Two new tabs: Commodities and Indices (alongside existing Crypto tab).
Instruments are searchable.
Each instrument has an RWA icon with tooltip: "The price of the perpetual contract references a real-world asset".
App:
Same tabs under Perpetual market selector.
RWA icon with bottom sheet explanation.
Category filters are not available for commodity/index perps.
9. Country & Region Restrictions
Where are commodity/index perps unavailable?
70+ countries and regions, including: US, Canada, UK, EU member states, Australia, Japan, Hong Kong, Singapore, Switzerland, and others.