Documentation
How watch perpetuals work
What are Watch Perps?
Perpetual futures tied to luxury watch prices. Go LONG (price up) or SHORT (price down) on watch references without owning a physical watch. Virtual USD settlement.
How to Trade
1. Connect for $10,000 virtual USD 2. Pick a watch market 3. Choose LONG or SHORT 4. Set leverage (1x up to 50x, depending on the market) 5. Enter size in USD 6. Confirm Real-time P&L updates as prices move. Close anytime.
Fees
Open Fee: 0.1% of notional Close Fee: 0.1% of notional Example: $100 at 5x = $500 notional. Open fee: $0.50. Close fee: $0.50. Fees are charged on notional, so a round trip costs 0.2% of the position regardless of leverage.
Leverage
Maximum leverage scales inversely with price and liquidity — thinner markets get less. Under $10k (Speedmaster, Tank Must, BB58): 50x $10k–$20k (Submariner, Datejust): 40x $20k–$50k (Daytona, Pepsi, Royal Oak): 30x $50k–$120k (Day-Date, Zeitwerk, Nautilus): 20x Over $120k (RM 011): 10x
Funding Rate
Keeps the perp price anchored to the index. Payments every 8 hours. Rate capped at 0.1% per interval.
Liquidation
Isolated margin — losses limited to position margin. Liquidation when margin ratio drops below 5%. Profit cap at 300% ROE. LONG: entryPrice × (1 - 0.95 / leverage) SHORT: entryPrice × (1 + 0.95 / leverage)
Price Data
Prices are SIMULATED. They are not live market data and no real watch has traded at these prices. Each market is modelled as a mean-reverting random walk anchored to an approximate real-world value, using that reference's own historical volatility — a Daytona (~20%/yr) moves differently from a Speedmaster (~7%/yr). The simulation runs on an accelerated clock: each 30-second tick advances roughly one simulated day. At true wall-clock speed a luxury watch moves about 0.02% per tick and every chart would sit flat at 0.0%. Smoothed with adaptive EWMA. Live pricing from watch marketplace data is not yet enabled — check /api/admin/health to see which source is active.
Risks
Significant risk involved. You can lose your entire margin. High leverage magnifies gains AND losses. Experimental software — use at your own risk. Not financial advice.