# Kwenta Lists stETH/ETH Perp

By [Synthetix Exchange](https://paragraph.com/@kwenta) · 2023-09-28

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Hello Traders,

Kwenta is excited to share the addition of a unique asset. stETH/ETH futures are available for trading through [Kwenta](https://kwenta.eth.limo/) on [Layer 2 Optimism](https://kwenta.io/).

Kwenta is an on-chain composable & decentralized exchange (DEX) for perpetual futures contracts, with up to 50x leverage for makers and takers.

> _Trading for this new market has now been enabled and is live at:_

[https://kwenta.eth.limo/market/?asset=STETH&accountType=smart\_margin](https://kwenta.eth.limo/market/?asset=STETH&accountType=smart_margin)

### **Lido stETH Synthetix Perps Trading Incentives:**

*   **Extension News:** Additional five weeks of OP rewards– 1500 OP per week
    
*   **Reward Caps:** Rewards can't exceed fees generated. Ex: $1k in trading fees generated, rewards a MAXIMUM of $1k in OP rewards.
    
*   **Trading Epoch**: The first epoch starts Sep 13th at 0:00 UTC; the first fee snapshot and subsequent distribution will be on Sep 20/21st.
    
*   **Weekly Rewards**: 1,500 OP for traders in the stETH perps markets
    
*   **Reward Distribution**: Pro-rata based on the trader score for the stETH market; visit participating integrators to claim.
    
*   **Example Reward Structure**: If OP/USD is $1 and there's $1k of stETH fees in a week, each trader will receive 1 OP per $1 of fees paid. This is subject to change based on stETH trading fees.
    
*   $ of fees paid < 100k OP $ value --> 100% fee rebate
    
*   $ of fees paid > 100k OP $ value --> 100k OP distributed pro-rata based on fees paid
    

The prices will be set via decentralized push-based [Chainlink oracles](https://docs.kwenta.io/resources/oracles), as well as pull-based [Pyth Oracles](https://pyth.network/), fees can and will vary depending on the asset, and the newest Futures Fees can be found in the order entry panel.

**📝Contract Specs**
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### **stETH/ETH-PERP**

*   Underlying Asset: $stETH/ETH
    
*   Open Interest (OI) Cap: 5,000,000 stETH
    
*   Maker/Taker Fees: 0/2 bps
    
*   Skew Skale: 2,000,000,000
    
*   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.
    

### **Additional Configurations:**

*   maxLeverage: 50x
    
*   liquidationBufferRatio: 100 bp
    

**Listing New Markets**
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Synthetix provides decentralized derivatives liquidity for protocols like [Kwenta](https://kwenta.eth.limo/). Demand, liquidity, and volatility drive the selection process for adding new Markets to Synthetix. [Chainlink](https://chain.link/) and [Pyth](https://pyth.network/) must support the data feeds necessary for any proposed assets to be considered for inclusion.

### **Risk warning:**

_Cryptocurrency trading is subject to high market risk. Please make your trades cautiously._

**Join the Kwenta Community**
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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/).

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*Originally published on [Synthetix Exchange](https://paragraph.com/@kwenta/kwenta-lists-steth-eth-perp)*