SPX index perps on Swapmos with up to 10x

Behind the SPX ticker is the S&P 500, the benchmark for large cap US equities, which moves on rate expectations, inflation and jobs data, earnings season and general risk appetite. Rather than trading thirty separate names, one position covers the index. Margin and settlement are in USDC, the contract never expires, funding is exchanged between longs and shorts, and leverage works both ways.

Taking you to the live market

Leverage works in both directions. At 100x, a 1% move against a position takes out all of the margin behind it.