# 8 Fresh Listings By [Synthetix Exchange](https://paragraph.com/@kwenta) · 2023-07-28 --- [Kwenta](https://kwenta.eth.limo), in partnership with our oracle providers at [Pyth](https://pyth.network/) and [Chainlink](https://chain.link/), is once again pushing the limits of on-chain derivatives. With today’s release of 8 new markets, Kwenta now includes **50 ways to go long or short** on majors, altcoins, memecoins, metals, forex, and more. At the end of this blog, you can find full details and new market parameters for the assets listed today. > [Trading for ETH/BTC (ratio), XMR, MAV, ETC , COMP, YFI, MKR, and RPL is now live](https://kwenta.eth.limo/market/?accountType=cross_margin&asset=sETH)! The ETH/BTC Ratio Perp ---------------------- One standout in our rapidly expanding list of assets is an oracle-powered, synthetic perpetual, allowing traders to gain exposure to the ETH/BTC ratio. How does this work, and what do you need to know as a trader? Let’s find out ### sUSD Collateral and Settlement The ETH/BTC ratio perp is traded using sUSD like other markets on Kwenta. As opposed to quanto futures, this means traders maintain exposure _only_ to the relative value of ETH/BTC, and not to the asset prices or the broader market. There is no BTC required to trade. ### **Deriving a Perp Price** An ETH/BTC ratio of 0.10000 would correlate with a $0.10000 sUSD unit price for perps. This could correlate with prices of $2,000/$20,000, respectively, or prices of $4,000/$40,000 in sUSD, with the exact same ratio. Even as the crypto markets rise and fall, the ratio will only change if these prices change at different rates. ### **Calculating PnL** Understanding how a perp price is derived from the ETH/BTC ratio makes calculating PnL easy. The ETH/BTC example was assumed to be 0.10000 in the previous example. If the ratio then rises to 0.11000, this would equate to an increase of 10%. To find your PnL, simply multiply the relative change with your leverage, accounting for fees. What else is new? ----------------- While ETH/BTC may be one of the most unique new assets at Kwenta, more DeFi bluechips and OG cryptocurrencies are making their way to Kwenta. Express your thesis on privacy coins and ETH killers, put on hedges, or find arbitrage opportunities on any of our growing list of assets. With **50 assets** and counting, ongoing [$OP rewards](https://mirror.xyz/kwenta.eth/8KyrISnjOcuAX_VW-GxVqxpcbWukB_RlP5XWWMz-UGk), and our convenient [Smart Margin](https://mirror.xyz/kwenta.eth/kzfQhQL-53VhVttQcIvjWAZxgLO-DgIRWqL6ln1xYJ0) management system, the time has never been better to start trading on an [on-chain, decentralized derivatives exchange.](https://kwenta.eth.limo) [https://kwenta.eth.limo/market/?accountType=cross\_margin&asset=sETH](https://kwenta.eth.limo/market/?accountType=cross_margin&asset=sETH) 📝Contract Specs ---------------- ### ETH/BTC-PERP (ratio) * Underlying Asset: ETH/BTC * Open Interest (OI) Cap: 50,000,000 * Maker/Taker Fees: 1/5 bps * Skew Skale: 1,700,000,000 * LiquidationBufferRatio: 75 bps ### ETC-PERP * Underlying Asset: ETC * Open Interest (OI) Cap: 55,000 * Maker/Taker Fees: 2/8 bps * Skew Skale: 4,000,000 * LiquidationBufferRatio: 100 bps ### COMP-PERP * Underlying Asset: COMP * Open Interest (OI) Cap: 15,000 * Maker/Taker Fees: 2/10 bps * Skew Skale: 860,000 * LiquidationBufferRatio: 150 bps ### MKR-PERP * Underlying Asset: MKR * Open Interest (OI) Cap: 750 * Maker/Taker Fees: 2/10 bps * Skew Skale: 60,000 * LiquidationBufferRatio: 150 bps ### XMR-PERP * Underlying Asset: XMR * Open Interest (OI) Cap: 5,000 * Maker/Taker Fees: 2/10 bps * Skew Skale: 255,000 * LiquidationBufferRatio: 150 bps ### YFI-PERP * Underlying Asset: YFI * Open Interest (OI) Cap: 75 * Maker/Taker Fees: 2/10 bps * Skew Skale: 2,500 * LiquidationBufferRatio: 150 bps ### MAV-PERP * Underlying Asset: MAV * Open Interest (OI) Cap: 500,000 * Maker/Taker Fees: 2/10 bps * Skew Skale: 21,000,000 * LiquidationBufferRatio: 150 bps ### RPL-PERP * Underlying Asset: RPL * Open Interest (OI) Cap: 3000 * Maker/Taker Fees: 2/15 bps * Skew Skale: 17,500 * LiquidationBufferRatio: 120 bps ### Perps markets will share the following configurations: * offchainDelayedOrderMinAge: 2 seconds * offchainDelayedOrderMaxAge: 60 seconds * maxFundingVelocity: 27 * maxLeverage: 27.5 * offchainPriceDivergence: 2.5% * maxLiquidationDelta: maker+taker offchain fees * maxPD: maxLiquidationDelta \* 2 * dynamicFeeRounds: 1 * maxDynamicFeeRate: 10% * Liquidation Price: The Chainlink oracle prices * The Funding Rate applies to open positions on Perpetual Futures. A positive rate means longs pay shorts, and a negative rate means shorts pay longs. > _Parameters for these new markets may be adjusted as necessary through the Synthetix governance process. Our goal is to optimize these markets and provide the best trading experience possible._ ### **Risk warning:** _Cryptocurrency trading is subject to high market risk. Please make your trades cautiously._ **Join the Kwenta Community** ----------------------------- If you haven't already, join the Kwenta community on [Discord](https://discord.gg/kwentaio). To be the first to learn about new updates to Kwenta, follow us on [Twitter](https://twitter.com/kwenta_io). To trade synthetic assets and futures, visit [Kwenta](https://kwenta.eth.limo/). --- *Originally published on [Synthetix Exchange](https://paragraph.com/@kwenta/8-fresh-listings)*