A synthetic Odado contract on the first stock’s USD price ÷ the second stock’s USD price. No stock ownership or tokenization. The stock-price index is used as the demo mark; it is not an xStocks quote or an existing perpetual market.

Maintenance margin

5% of entry notional

Model funding / 8h

0.01% · Long pays

Entry / exit fee

0.05% each

Gross PnL = direction × notional × (current ratio / entry ratio − 1). Fees and funding are separate.

Periodic REST snapshots, not ticks. Quotes must be synchronized within 60 seconds. During the regular session they must also be within 5 minutes. Outside the session, local demo orders use the last valid prices. Model funding is paused, with no overnight accrual or catch-up. Reopening can trigger gap liquidation.

History uses matched, unadjusted closes. Splits can cause jumps; percentage change uses the first and last available closes.