Commodity perpetuals provide levered exposure to underlying commodities. CASH commodity markets are linear, USDT-margined, and USDT-settled. USDT/USD conversion is applied to oracle prices
This page describes how commodity markets define trading sessions and how pricing behaves in Regular Hours versus Off Hours.
Trading sessions for commodities
CASH defines "Regular Hours" and "Off Hours" for commodities based on the availability of a 23/5 external price feed.
Regular Hours (external session)
Regular Hours are:
Sunday 18:00 ET to Friday 17:00 ET
With a daily maintenance break from 17:00 ET to 18:00 ET
During Regular Hours, CASH uses external pricing inputs for the oracle.
Off Hours (internal session)
Off Hours are:
The daily maintenance break from 17:00 ET to 18:00 ET (Monday to Thursday)
The weekend closure from Friday 17:00 ET to Sunday 18:00 ET
During Off Hours, CASH uses internal, smoothed pricing inputs for the oracle.
Holiday schedules and special closures may apply.
External Oracle for Commodities
Commodity
Reference Price
Source
Rolling futures/data source
For commodities where the external oracle relies on dated futures, the reference contract will be "rolled" every 1-3 months, with the date communicated ahead of time.
