Chainlink(LINK) is a blockchain-based middleware, acting as a bridge between cryptocurrency smart contracts, data feeds, APIs and traditional bank account payments. LINK token is an EIP20 token with additional ERC677 functionality. Chainlink currently resides on the Ethereum blockchain and supports connectivity to other Ethereum dApps.
You can margin trade LINK on Delta Exchange using our derivative (i.e. futures and perpetual) contracts. This means that you can go long or short LINK with leverage.
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Complete details of the futures and perpetual contracts on LINK that are listed on Delta Exchange are available below.
Perpetual contracts on LINK are intended to provide returns of the underlying spot market in LINK with the added advantage of leverage. Perpetual contracts do not have an expiry date. You can learn more about perpetual contracts here.
LINK Perpetual contracts are quoted in BTC. All margin, Profit/ loss and settlement calculations are denominated in BTC.
LINK Perpetual contracts are margined in BTC. This means you need to have BTC to trade these contracts. The maximum allowed leverage for LINK Perpetual contracts is 20x.
The underlying index for LINK Perpetual contracts is .DELINKXBT. It tracks the price of LINK/BTC price from binance.
Funding is a series of continuous payments that are exchanged between longs and shorts in a perpetual contract to keep the price of the contract tethered to the underlying index.
At any given time, funding rate is equal to the difference of the mark price and the underlying index price. Funding is considered to be an 8-hourly interest rate and is computed and exchange every minute. When funding rate is positive, longs pay shorts. When funding rate is negative, shorts pay longs.
This contract is perpetual and does not settle.
You can directly buy or sell LINK. This is called spot trading of LINK. If you buy low and sell high, you will make profit. However, this trade only works when LINK price goes up. Further, leverage trading is not possible in spot trading.
LINK margin trading through derivatives addresses these shortcomings. The LINK futures and perpetual contracts enable you to go benefit from both up and down move in LINK. Further, these derivative contracts have built-in leverage, enabling you to trade big with small capital.
Starting trading on Delta Exchange is a breeze. Here’s how you can make your first LINK trade on Delta Exchange:
Delta exchanges offers trading in cryptocurrency futures. These futures offer: (a) up to 100x leverage and (b) ability to go both long or short. Crypto futures not only have the same features as margin trading, but also higher liquidity and lower trading fees.
Delta Exchange is a derivatives exchange. You can trade futures on cryptocurrencies, but not cryptocurrencies directly. The complete list of futures listed on delta is available here.
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