Number of participants
Trading Rewards Data Update every 10 minutes
Average Open Interest
Total score of all users
Weekly Mission Update every 10 minutes
The default mission multiplier is 1. The highest it can reach is 5, after completing 4 weekly missions
For users who sign up during the registration period, fees paid (calculated in USD) will be accumulated during the entire competition period. For users who sign up when the competition is already active, fees paid will be accumulated from time of registration to the end of competition period. Fees are tallied at the end of the competition.
2Average Open Interest
Refers to a trader's average open interest (calculated in USD) across all contract markets during the competition. For example, if a trader opens a 10,000 USD contract position one minute after competition period begins and maintains this position throughout the competition period, then average open interest is 10,000 USD. If a trader opens and closes a position of any amount within 10 minutes (time interval for data update), then the average open interest is 0. If a user opens a 10,000 USD contract position and maintains it for one-tenth the duration of active competition period, then their average open interest is 1000 USD.
Every week will feature a newly added mission, and completing a mission boosts the user's mission multiplier. Participants are incentivized to complete weekly missions in order to increase their share of the prize pool. Default mission multiplier is 1.
Because our maker fees are negative, a maker's score might be negative. When a user's personal score is negative, it will be counted as zero. The total score of all users will not count any negative scores.
When user's reward is less than $1, it will not be issued. When reward is greater than $1 but less than $5, a $10 trading bonus will be sent. When the reward is greater than $5, user will receive USDT on a 1 USD: 1 USDT basis.
610% * Score of Invitees will not be double-counted, meaning it won't include the points earned from the next batch of friends your invitees invite.
7Sub-accounts cannot count as individual participants in this competition.
8Phemex reserves the right to make any final and binding changes to these rules.