What is OIL-PERP?
OIL-PERP is a perpetual future on crude oil. Go long if you think oil rises or short if you think it falls — up to 5× leverage, with no expiry and no contract roll.
Oracle index: the mark is anchored to Pyth's USOILSPOT spot-CFD feed — an aggregated, non-expiring WTI crude price. Oil is not 24/7: when the underlying market closes (weekends, holidays, the nightly break) the feed stops publishing and the market fail-closes (halts) rather than trade a stale last price.
USDC-margined, isolated margin: each position is collateralised in USDC and its risk is ring-fenced — a liquidation can never cost you more than the margin you put up for that position.
Funding is exchanged periodically between longs and shorts to keep the perp tethered to the oracle index. Reduce-only orders can only shrink a position; post-only limit orders are rejected if they would take liquidity.
Index: Pyth Network — USOILSPOT (non-expiring WTI crude spot CFD), aggregated from institutional sources and delivered on-chain.
Live oracle price: —
Orders rest on and fill against this market's own order book above; the index and mark come from this source, and funding pulls the book toward it. The chart is the live index.