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Market Data Types

The Get Market Data endpoint returns a variety of data types for each market. Below is an overview of each type:
  • INDEX: The current index price for the market. The value field holds the price, and index specifies the source. See below for index price sources.
  • ASK: The best ask price (lowest price at which sellers are willing to sell).
  • BID: The best bid price (highest price buyers are willing to pay).
  • FUNDING: The final funding rate for the last hour. Used to calculate funding payments for perpetual contracts.
  • NEXT_FUNDING: The real-time funding rate for the current hour, providing an estimate of upcoming funding payments.
  • OPEN_INTEREST: The total number of outstanding contracts (positions) in the market, indicating market activity and liquidity.
  • 24H_VOLUME: The total trading volume in the market over the past 24 hours.
  • 24H_COUNT: The total number of trades executed in the market over the past 24 hours.

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Index Price Sources

Accurate and up-to-date index prices are essential for core services such as funding and unrealized PnL calculations. To ensure reliability and availability, our system uses a multi-source approach for index pricing:
  • Primary Source
    CCIX — main source of index prices.
  • Backup Source 1
    CCCAGG — used if the primary source becomes unavailable.
  • Backup Source 2
    Hyperliquid — secondary fallback to maintain price availability.
  • Backup Source 3
    Kraken — last fallback to maintain price availability.

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Funding Rates

The funding rate calculations are detailed in the Funding Calculation guide.

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Product Specifications

Product specifications for each perpetual contract on the Rails platform are listed below. Most values are consistent across all markets, but tickSize is specific to each market.

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Common Specifications

These values apply to all supported markets, which you can retrieve using the Get Supported Markets endpoint.
SpecificationValue
Lot Size0.00000001
Funding IntervalEvery 1 hour
Min Order Size1 USD
Max Order SizeNo limit
Contract TypeVanilla

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Market-Specific Tick Sizes

MarketTick Size
BTC-USD0.01
ETH-USD0.01
SOL-USD0.01
XRP-USD0.00001
HYPE-USD0.001
PUMP-USD0.000001
ENA-USD0.00001
ZEC-USD0.01
XLM-USD0.00001
You can retrieve the latest product specifications using the Get Product Specifications v2 endpoint.