Barrier distance
The minimum distance is 3% in session and 8% off-hours. The effective leverage follows the distance from the underlying price to the financing level.
ALL PRODUCT FAMILIESTickets
Tickets
Know your maximum loss, first.
Choose a direction and knock-out level, then pay the ticket price. Your maximum loss is the amount paid. No margin call; a verified barrier crossing knocks the ticket out.
Explore Tickets
EXPOSUREBarrier-defined
Choose a direction and knock-out level, then pay the ticket price. Your maximum loss is the amount paid. No margin call; a verified barrier crossing knocks the ticket out.
FEES0.15–0.5% + financing
Read the execution fee and any financing or carry in the quote before signing. A knock-out can lose the entire ticket price. Financing shifts the barrier over time. Sell-back pauses off-hours.
COLLATERALOne USDC balance.
Cross margin draws from the shared USDC ledger. Isolated mode reserves collateral for an individual position.
TICKETS / MECHANICS
Inside the
instrument.
The financing level defines both the knock-out barrier and the ticket’s effective leverage.
STEP 01
Choose a long or short view and a financing level that sets the knock-out boundary.
Verified knock-out
Only a fresh verified price can knock a ticket out. A later valid report can prove a crossing that happened during its lifetime.
Known loss boundary
The full premium can be lost on a knock-out. Financing moves the level over time, and sell-back pauses off-hours.
Mechanics and design limits follow the supplied Leveret protocol specification. Current execution limits come from the verified on-chain configuration.
Know the terrain.
A knock-out can lose the entire ticket price. Financing shifts the barrier over time. Sell-back pauses off-hours.
Read the signed quote, current market state and fee estimate before signing.
Explore protocol rules