What are Turbos? What makes Turbos Revolutionary?
Why Turbos are revolutionising leveraged trading
What are Turbos?
Our flagship trading product! Turbos are leveraged products and function very similarly to perpetual futures but with some differences. You can go long or short but with Turbos your risk is capped, there is no margin just an initial outlay to pay. You have a knock-out or liquidation level and if this price is hit then your position is terminated. You can settle a Turbo at any time and there is no expiration time.
This is the Turbos trading screen, here you can create your position and manage positions by navigating the right-side trading panel.
You control the knockout barrier by configuring the leverage level and if this barrier level is hit your position is liquidated. Optionblitz Turbos also have a funding rate similar to perpetual futures/swaps although due to the trade specification of Turbos, rates are fundamentally lower.
Funding Rate Mechanism
Just like perpetuals, Optionblitz Turbos have a Funding Rate Mechanism built in. This balances long and short positions by charging the side which gives OB the most exposure, an interest rate. These Turbos fundamentally have lower Funding Rates than perpetuals because they cater to traders that hold positions for under a day. They also allow much higher leverage safely, up to 200x since there are no margin calls. Most perpetuals have a liquidation level at 50% of margin so in volatile markets, high leverage is impossible.
We believe we have introduced a new instrument that fits a space in the market and can be combined with other products to produce sophisticated trading strategies.
Lets take a look in more detail:
Trade a huge range of markets
Unlike other perpetual products currently on the market, Turbos give traders a wide range of asset trading pairs. Perpetual contracts currently on the market only allow traders to enter into positions in a handful of cryptocurrency pairs. On the OptionBlitz platform we cater to all. Whether traders are looking to trade fiat currencies, cryptocurrencies, metals or indices! You can do it all with Turbos.
UP TO 200x LEVERAGE
Most perpetuals offer up to a maximum of 20x to 35x leverage due to the volatility of crypto markets and the requirement of at least 50% maintenance margin, Turbos are able to offer up to 200x leverage because there is no margin and deployment to the Arbitrum network allows faster liquidation management by the risk engine.
The lack of margin caps Turbos risk but if the Turbo’s knockout level is reached, then the user’s position is terminated. Instead of paying margin, the client pays an initial outlay in proportion to the amount of leverage selected.
That's right, turbos have no expiration. Just like other perpetual products currently on the market, traders can remain in the trade until they are either knocked out of their position or decide to exit. Turbos can be used to trade in markets that are not 24/7/365 such as FX pairs and Indices, this is because the funding rate mechanism can be scaled overnight when markets are closed to balance the risk of volatility.
FIXED 0.1% TX FEE = FIXED SPREADS
We all know how important low fees are to traders, this is why Turbos have a fixed fee of 0.1%, meaning traders can rest easy with the guarantee that trading fees will not fluctuate during position lifecycle.
ZERO PRICE IMPACT TRADING = 0% SLIPPAGE
Many platforms that offer perpetual products are hit with unexpected slippage costs when entering or exiting a position. Turbos are designed to give traders the comfort that they will not encounter any slippage costs by offering zero-price impact trading. Traders returns are guaranteed my the smart contract with no hidden fees.
By deploying OptionBlitz to the Arbitrum network, we can take advantage of the decentralised sequencer which offers near instant finality to transactions. This means network confirmations happen almost instantly which vastly improves the user experience when entry and exit prices match the clients intended targets.
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