SPX500 index perps on Swapmos, up to 20x

The S&P 500 measures 500 large listed US companies, so it moves on earnings season, inflation prints, and what traders expect from the Federal Reserve. This contract tracks the index level rather than any single share, settles in USDC and has no expiry, with funding exchanged between longs and shorts. At 20x, a one percent index gap is a twenty percent move on margin.

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.