T-Bill Yield Perpetuals

This perpetual contract tracks the annualized 3-Month U.S. Treasury Bill yield, allowing traders to speculate on or hedge against short-term yield volatility.

What it Tracks	The annualized 3-Month U.S. Treasury Bill yield.
Index Definition	A cumulative coupon index It = ∫(rs / Dhr)ds where rt is the live T-Bill yield.
Oracle Type	A Session-Selected Oracle with distinct on-hours, off-hours, and weekend policies.
Market Type	Rate Perpetual.
Use Cases	Long or short the T-Bill yields.
Users	• Stablecoin Treasuries & DAOs • Money Market Funds & Carry Desks • Macro Speculators • Sophisticated Retail Traders
Vol-stat (σ)	Very low: approximately 45 bp/yr. This is one of the lowest volatility products offered.
Margin Numbers	Derived from the Max Leverage tiers. For the initial 3x leverage tier, the Initial Margin (IM) is ~33.3% of the notional position value.

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