LTC Futures & Perpetual Contracts Guide - Delta Exchange

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LTC Futures & Perpetual Contracts Guide

About Litecoin
Litecoin (LTC) is a peer-to-peer cryptocurrency that enables near instant and low cost money transfers. Creation and transfer of LTC is decentralised and is based on an open-source cryptographic protocol. The Litecoin blockchain started as a hard-fork of the Bitcoin block in October 2011. Due to this, the Litecoin protocol is nearly identical to Bitcoin protocol.

They key differences between Litcoin and Bitcoin are as follows:

  • Blocktime in Litcoin blockchain is ~2.5mins vs. ~10mins for Bitcoin.
  • The supply of Bitcoin is capped at 21 million, whereas the max supply of Litcoins is 84 million.
  • Litecoin uses scrypt as the hashing algorithm, while SHA-256 is used in Bitcoin blockchain. This choice of hashing algorithm makes is easy to mine LTC using any consumer-grade hardware.

You can margin trade LTC on Delta Exchange using our derivative (i.e. futures and perpetual) contracts. This means that you can go long or short LTC with leverage.

LTC Contracts Listed on Delta Exchange

Contract
Type
Max Leverage
Price Currency
Margin Currency
Action

Contract Type Max Leverage Price Currency Margin Currency Action
LTCUSDQ Quanto Perpetual 20x USD USDC See Market

Complete details of the futures and perpetual contracts on LTC that are listed on Delta Exchange are available below.

LTC Quanto Perpetual

Quanto Perpetual contracts on LTC are intended to provide returns of the underlying spot market in LTC with the added advantage of leverage. Perpetual contracts do not have an expiry date. You can learn more about perpetual contracts here.

Quotation Details

LTC Quanto Perpetual contracts are quoted in USD.  All margin, Profit/ loss and settlement calculations are denominated in USDC.

Margin and Leverage

LTC Quanto Perpetual contracts are margined in USDC. This means you need to have USDC to trade these contracts. The maximum allowed leverage for LTC Quanto Perpetual contracts is 20x.

Underlying Index

The underlying index for LTC Quanto Perpetual contracts .DELTCUSD. It tracks the price of LTC/USD price from bitstamp and kraken.

Funding

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.

Settlement

This contract is perpetual and does not settle.

Fees

  • Taker fees = 0.25%
  • Maker fees = -0.05%


Trading LTC

Why Should You Trade LTC Futures & Perpetual

You can directly buy or sell LTC. This is called spot trading of LTC. If you buy low and sell high, you will make profit. However, this trade only works when LTC price goes up. Further, leverage trading is not possible in spot trading.

LTC margin trading through derivatives addresses these shortcomings. The LTC futures and perpetual contracts enable you to go benefit from both up and down move in LTC. Further, these derivative contracts have built-in leverage, enabling you to trade big with small capital.

How to Start Trading on Delta Exchange

Starting trading on Delta Exchange is a breeze. Here’s how you can make your first LTC trade on Delta Exchange:

  • Register: This takes < 1min and requires on a verified email address. No other KYC is needed.
  • Fund your Delta Exchange Wallet: Only bitcoins are accepted in the Delta Exchange Wallet. A unique BTC deposit address will be generated for you when you register.
  • Convert BTC to USDC: All futures and perpetual contracts on Delta Exchange are margined and settled either in BTC or USDC. For USDC settled contracts, use the currency convertor to change BTC to USDC.
  • Make your first trade: Now you are all set to trade on Delta Exchange!

FAQs

  • Does Delta Exchange support margin trading?

    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.

  • Which cryptocurrencies can I trade on Delta Exchange?

    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.

  • How can I contact Delta Exchange?

    For any query, feedback, suggestion or business proposals, please write to us at: [email protected]