AMD Perpetual Contract Specs Explained: What Each One Means

Every futures contract comes with a short sheet of numbers that fixes how it trades. It says how much of the asset one contract covers, the smallest step its price can take, how big one order may be and how much leverage is on offer. Traders call that sheet the contract specs, and two contracts on the same stock can carry very different ones.

Those numbers look like small print, yet each one quietly decides something about your order. The size of one contract decides how many you need for the exposure you want, and the order caps decide whether it goes through in one piece. A price band can hold an order back, and the leverage cap sets how much margin the position needs and how close liquidation sits.

A perpetual on a company's shares adds a few lines that a share never has, because its price comes from an index rather than straight from the stock exchange. The venue sets a band around that index, keeps a fund for liquidations that go wrong, and can change several of the numbers as the market changes.

On BloFin, the perpetual on Advanced Micro Devices is the AMDUSDT Perpetual, and its spec sheet matters more in a year like this one. AMD's stock rose 9.95% in the single session of September 21, 2026 (source: Stock Analysis, AMD price history). A move that size tests every line on the sheet at once, from the band to the leverage.

What are the AMD perpetual's contract specs?

AMD perpetual contract specs are the fixed trading terms BloFin sets for the AMDUSDT Perpetual. One contract equals 0.01 AMD, the smallest order is 0.01 AMD, and the price moves in steps of 0.01 USDT. A single order is capped at 2,000 AMD as a limit order or 200 AMD at market, and leverage runs from 1x to 20x.

The order sizes, tick and leverage come from the contract's own page, which also lists settlement in USDT, funding every eight hours, the price-limit rules and an insurance fund balance (source: BloFin, AMDUSDT contract information). The contract size of 0.01 was set in the listing notice (source: BloFin listing notice, May 6, 2026). Because a perpetual has no expiry date, a position on it runs until you close it or it is liquidated. Futures specs exist to standardize contracts, so that every contract on a market is interchangeable with every other one (source: Britannica Money, futures contract specifications).

Settlement in USDT means your margin, fees, funding and profit or loss all show up as USDT, a stablecoin pegged to the US dollar, and never as shares. Funding is the one cost line on the sheet: a small payment every eight hours that keeps the contract's price near its index, explained in full in funding on the AMD perpetual.

The contract's live price, and the order form that applies these specs, are on the AMDUSDT Perpetual page.

How contract size and the minimum order work

The AMD perpetual's contract size is 0.01 AMD, so one contract tracks a hundredth of one AMD share and 100 contracts track a whole share. The smallest order is one contract, and every price move of 1 USDT changes the value of one contract by 0.01 USDT, or of 100 contracts by 1 USDT.

Contract size is what turns the number you type into exposure. A futures contract's value is its size multiplied by the price (source: Britannica Money, futures contract specifications). For AMDUSDT, that value is counted in USDT. BloFin quotes both the minimum order and the maximum orders in AMD units, 0.01 AMD at the low end (source: BloFin, AMDUSDT contract information). A size can be written three ways, in contracts, in AMD or in USDT, so it helps to be able to move between all three.

Say the contract trades at 600 USDT. At that price one contract is worth 6 USDT, and every other size scales up from there.

Profit or loss follows the same arithmetic in either direction. Buy 100 contracts at 600 USDT and sell them at 612 USDT, and the 12 USDT move earns 12 USDT before fees and funding, just as one share bought at $600 and sold at $612 would earn $12. A short position of the same size would lose that 12 USDT.

The small size is what makes the contract usable with little money. One contract at 600 USDT is 6 USDT of exposure, so you can open a position in a stock that costs hundreds of dollars a share with a few USDT of margin.

What one tick is worth on the AMD perpetual

A tick on the AMD perpetual is 0.01 USDT, the smallest step the contract's price can move. Because one contract covers 0.01 AMD, each tick changes one contract's value by 0.0001 USDT, 100 contracts by 0.01 USDT, and a 100 AMD position of 10,000 contracts by 1 USDT.

A tick is the smallest price step a futures contract can take (source: Britannica Money, futures contract specifications). The listing notice set AMDUSDT's tick at 0.01 when the contract went live in May 2026 (source: BloFin listing notice, May 6, 2026). The contract page still shows 0.01. In practice, the tick decides which limit prices you can type: 600.25 USDT is a valid price, while 600.255 USDT has one decimal too many.

Prices on the contract therefore run to two decimal places, the same dollars-and-cents format a share price uses. The tick also shows how fine your control is. On a 1 AMD position, moving a limit order by one tick changes the value of the fill by 0.01 USDT, which is small next to the fees and funding the position carries.

Where the tick matters most is the spread, the gap between the best price a buyer is offering and the best price a seller is asking. A spread of one tick is the narrowest the market allows, and any wider spread is a cost you pay when you cross it with a market order. That makes a limit order worth considering whenever the spread opens up, for example in quiet hours.

Maximum order size: 2,000 AMD limit and 200 AMD market

The AMD perpetual caps a single order at 2,000 AMD for a limit order and 200 AMD for a market order. In contracts, that is 200,000 and 20,000. At a price of 600 USDT, the caps come to about 1.2 million USDT for one limit order and 120,000 USDT for one market order.

Both caps are per order, as the contract page labels them "Maximum Order Size" (source: BloFin, AMDUSDT contract information). A market order fills straight away at the best prices waiting in the order book, while a limit order fills only at your price or better. The market cap is a tenth of the limit cap. That gap matters because a market order fills against whatever the book holds, so a large one can sweep through several price levels and fill well away from the price you saw.

For small positions the caps rarely come into play. A 10 AMD position, worth about 6,000 USDT at 600 USDT, is a twentieth of the market-order cap. They start to matter when you size in AMD shares rather than in USDT, because 200 AMD sounds small until you work out that it is 120,000 USDT at that price.

When an order is larger than the cap, you split it. Say you want 300 AMD at market: that becomes two orders of 150 AMD, or one of 200 AMD and one of 100 AMD, and each fills against whatever the book holds when it arrives. A limit order up to 2,000 AMD can go in as one piece, and it will rest in the book at your price until it fills or you cancel it.

Size has a second effect that the order caps do not show. The leverage you can use falls as a position grows: BloFin's position tiers allow 20x only on the first 200 AMD, 15x from 200.01 to 1,000 AMD and 10x from 1,000.01 to 4,000 AMD (source: BloFin, AMDUSDT position tiers). The tiers count your holdings, open orders and new orders together, and each step down in leverage raises the margin you need, as the AMD perpetual's margin requirements set out tier by tier.

Leverage on the AMD perpetual: 1x to 20x

Leverage on the AMD perpetual runs from 1x to 20x, so the margin you post can be as little as a twentieth of the position's value. At 600 USDT, a 1 AMD position needs 600 USDT of margin at 1x and 30 USDT at 20x, and higher leverage means a smaller move can liquidate it.

On BloFin's contract page, the leverage line reads 1~20 (source: BloFin, AMDUSDT contract information). That is double the range the contract started with: the listing notice set leverage at 1-10X when the AMDUSDT Perpetual went live at 2PM UTC on May 6, 2026 (source: BloFin listing notice, May 6, 2026). Margin is the USDT you set aside to back a position, and leverage is the position's value divided by that margin.

Liquidation comes before the margin runs out. BloFin closes or cuts a position once its margin, plus any profit or loss, falls to the maintenance margin plus the fee for closing it. The check runs on the mark price (source: BloFin Help Center, Forced Liquidation Rules). Maintenance margin is the minimum a position must keep to stay open. For AMDUSDT's first tier it is 2.50% of the position's value (source: BloFin, AMDUSDT position tiers). At 20x, you post 5% and must keep 2.50% plus the closing fee, so a move of about 2.5% against you is enough to liquidate the position.

In isolated margin, the most a position can lose is the margin you put behind it, while cross margin backs every position with your whole account balance (source: BloFin Help Center, Forced Liquidation Rules). AMD's 9.95% session on September 21, 2026 was about four times that 2.5% distance. A day like that shows why 20x is a ceiling and a poor default, and where each leverage level liquidates works through the other levels one by one.

How the ±3% price limit works on AMD orders

The AMD perpetual's price limit keeps orders within about 3% of the index. A buy can be priced at most about 3% over the index, and a sell at most about 3% under it. This price band moves with the index all day, so it limits how far one order can stray and leaves the day's range open.

The contract page states the rule as a pair of formulas. In their simple form, the buy limit is at most the index times 1.03 and the sell limit at least the index times 0.97 (source: BloFin, AMDUSDT contract information). The index is the reference price the contract tracks. BloFin describes the purpose of the rule as keeping orders from filling at abnormal prices when the market is volatile or thin (source: BloFin Help Center, Price Limit Rules).

Say the index is at 600 USDT. The highest price a buy order can carry is 618 USDT, and the lowest price a sell order can carry is 582 USDT. A limit buy at 620 USDT sits outside the band, as does a sell at 580 USDT. The page also sets outer bounds on the far side. A buy can be priced as low as a fifth of the index and a sell as high as five times it, so orders can rest well away from the current price.

A band that moves with the index works differently from a daily limit, which is a fixed cap on a whole day's move. Take September 21, 2026, when AMD closed 9.95% above its Friday close, at $615.52 against $559.82 (source: Stock Analysis, AMD price history). As an index climbs through a session like that, the 3% band climbs with it, so buyers can follow the price all the way up while no single order can jump far ahead of it. The band shapes each order, and the day's range is left to the market. Swings like that one are part of AMD's stock price history, which has seen many of them.

The premium adjustment in the AMD price limit

The premium adjustment tightens the AMD price limit when the contract has been trading away from its index. After the contract's first 10 minutes, BloFin adds the average premium of the last two minutes to the 3% limit, and the result is kept between the index itself and the plain 3% limit.

The premium is how far the contract's price sits over or under the index, and the contract page uses its average over the last two minutes (source: BloFin, AMDUSDT contract information). The page lists two versions of the rule: one for the first 10 minutes after the contract was created, and one for every moment after that. The adjusted version is the one that governs a contract listed since May 2026.

Buy limit = index × 1.03 + average premium, kept no higher than index × 1.03 and no lower than the index.

Sell limit = index × 0.97 + average premium, kept no lower than index × 0.97 and no higher than the index.

Say the index is 600 USDT and the contract has traded 1.20 USDT under it on average over the last two minutes, a premium of −1.20 USDT. The buy limit becomes 618 − 1.20 = 616.80 USDT, while the sell limit stays at 582 USDT, because adding a negative premium to 582 would take it under its floor. If the contract had traded 1.20 USDT over the index instead, the sell limit would rise to 583.20 USDT and the buy limit would stay at 618 USDT.

So the adjustment only ever narrows the band on one side. When the contract trades under its index, buy orders lose some room at the top; when it trades over the index, sell orders lose some room at the bottom. A limit order you priced close to the 3% edge can therefore fall outside the band for a few minutes during a sharp move, even though the index has barely changed.

Index price, mark price and last price on AMDUSDT

The AMD perpetual shows three prices, and each one does a different job for your order. The index price is the reference for the price limits, the mark price decides liquidation and your unrealized profit or loss, and the last price is where the latest trade filled. In the regular session the three usually sit close together.

BloFin's listing notice says the AMD index is built from prices quoted by outside data vendors. When no outside data comes in, the index stays fixed at its last value (source: BloFin listing notice, May 6, 2026). BloFin's notice on stock futures adds that these contracts are based on a basket of tokenized stock indices already trading in the market (source: BloFin stock futures notice, April 21, 2026). The same notice states that the contract is not a security and carries no ownership of AMD shares, a point that what the AMD perpetual is explains in full.

For orders, the mark price and the last price are the two to watch. BloFin's help center says the mark price combines the index with a funding basis and other pricing inputs. It is used for liquidation, the margin ratio and unrealized profit and loss. The last price is used to fill trades and to trigger take-profit and stop-loss orders set to it (source: BloFin Help Center, index, mark and last price). A stop set on the last price can fire on a brief spike that the mark price never reaches. In the other direction, a position can be liquidated on the mark while the last price looks safe. The general version of that difference is in mark price and last price.

Those readings came during Nasdaq's regular session, when the index had fresh prices to work with. When the stock market is shut, the index either keeps moving with its outside quotes or holds at its last value once they stop. A position held overnight or over a weekend then carries AMD perpetual gap risk, the chance that the price jumps when trading resumes.

What a Nasdaq trading halt means for the AMD index

A Nasdaq trading halt pauses trading in AMD shares, for five minutes in the case of a Limit Up-Limit Down pause, and BloFin's AMD notices describe no rule written for halts. The one rule they give is that the index stays at its last calculated value whenever no outside data is available.

The single-stock circuit breaker in US markets is the Limit Up-Limit Down rule, often shortened to LULD. It sets a band around the stock's average price over the previous five minutes. If the price reaches the band and does not move back inside it within 15 seconds, trading in the stock pauses for five minutes (source: Investor.gov, stock market circuit breakers). The rule applies from 9.30AM ET to 4PM ET. Its bands double in the last 25 minutes of the trading day for Tier 1 stocks, the group that includes every S&P 500 company (source: Investor.gov, stock market circuit breakers).

BloFin's listing notice and its stock futures notice name no halt, pause or LULD rule. They say the index is built from vendor quotes, that the contracts are based on a basket of tokenized stock indices, and that the index holds still when no outside data arrives. Whether the index freezes during a five-minute pause therefore depends on whether its sources keep quoting, and BloFin's notices do not say how its vendors treat a halt.

For your order, the practical reading is to treat a halt as a moment when the reference price may stop moving while the contract can keep trading. The ±3% band stays centered on whatever the index shows, so orders keep being accepted within about 3% of that level. When AMD reopens after a pause, the stock can trade well away from its last price. The index and mark can then move in a single jump, the same risk a gap carries.

The AMDUSDT insurance fund

The AMDUSDT insurance fund is money BloFin keeps to cover liquidations that close at a worse price than the position's own margin can absorb. The contract page shows its balance, which rises and falls with every liquidation. BloFin can turn to auto-deleveraging when its insurance fund runs short or drains quickly.

BloFin says its insurance fund comes mainly from money BloFin provides and from the surplus left over when liquidations close better than needed. It is used when a liquidated position fills at a price worse than the liquidation price, or cannot be closed at all, and it covers the deficit that results. When the insurance fund is too small or drains quickly, auto-deleveraging (ADL) is triggered (source: BloFin Help Center, Forced Liquidation Rules).

Say you hold a long position in isolated margin and a sharp fall carries the mark to your liquidation price. The liquidation engine takes the position over and closes it in the market. If the close fills better than the liquidation price, the surplus goes to the fund. If it fills worse, or the position cannot be closed at all, the fund covers the deficit, so your loss stays capped at the margin you posted (source: BloFin Help Center, Forced Liquidation Rules).

So the fund line tells you something about the other traders on the contract more than about your own position. The fund matters for the rare case where many positions are liquidated at once into a thin market, because a run of liquidations that fill badly is what drains an insurance fund quickly. The balance moves every time a liquidation adds to it or draws on it, so any figure you read is a reading of that moment.

How BloFin changes the AMD perpetual's specs

BloFin may change the AMD perpetual's trading parameters as the market changes, and it says it may do so without a separate announcement. Leverage is the live example: the contract listed at 1-10X and now allows up to 20x. Before any order, the contract page on the day is the spec sheet to trust.

BloFin's own contract page carries the clause that the platform will adjust parameters based on the actual market without issuing a separate announcement (source: BloFin, AMDUSDT contract information). The leverage change shows what that looks like in practice. The listing notice put the range at 1-10X in May, and the contract page now shows 1~20 (source: BloFin listing notice, May 6, 2026).

Some changes do get a schedule. The contract page has a Parameter Adjustments tab for that. It lists scheduled changes to position tiers, discount rates, tick sizes, step sizes and minimum order sizes across BloFin's markets, with the time and status of each (source: BloFin, Parameter Adjustments). BloFin adds there that actual adjustments depend on execution results and that it may cancel or modify a scheduled change.

Corporate actions have their own route. For a stock split, a reverse split, a merger or a spinoff, BloFin says it will issue a separate market notice on how the event is handled (source: BloFin listing notice, May 6, 2026). An AMD split would therefore arrive as a notice of its own, and that notice would say what changes for the contract.

Put together, the specs fall into three groups, and checking the page each time you trade covers all three.

Checking the specs before an AMD perpetual order

Checking the specs before an AMD perpetual order takes a minute and covers five things. They are the size in contracts, the order cap, the maximum leverage for your size, whether your limit price sits inside the band, and whether the market is in its regular session. Each one can stop or change the order you meant to place.

Trading hours sit outside the spec sheet, in a separate notice. Outside regular weekday trading hours, and on weekends and market holidays, BloFin may limit stock futures to orders that reduce or close a position (source: BloFin stock futures notice, April 21, 2026). Those hours shift with US daylight saving time, and reduce-only windows on the AMD perpetual turns them into UTC times for each part of the year.

1. Decide the exposure in AMD, then multiply by 100 for contracts: 5 AMD is 500 contracts.

2. Keep a market order at or under 200 AMD, and a limit order at or under 2,000 AMD.

3. Check the maximum leverage for your size: up to 200 AMD, 20x is available, and above that the maximum steps down.

4. Keep a limit price within about 3% of the index, and a little less when the contract trades away from it.

5. Check the session, because opening a position outside regular hours may not be possible.

Say you want 5 AMD of long exposure at 5x, with the index at 600 USDT. That is 500 contracts worth 3,000 USDT, well under the 200 AMD market cap and inside the 20x tier, so 5x is allowed and the margin is 600 USDT. A limit buy at 605 USDT sits inside the 618 USDT ceiling, and the price step of 0.01 USDT accepts it as typed. The step-by-step order, from funding the account to closing the position, is in how to trade AMD with leverage.

Looking to trade the AMDUSDT Perpetual? To get started, you'll need to first create a BloFin account, fund your account with cryptocurrency, and go to the AMDUSDT Perpetual trading page.

Frequently asked questions

Why does an AMD perpetual order stay pending instead of filling?

An AMD perpetual limit order stays pending while the market has not reached its price, and one priced outside the price limit around the index can also wait instead of filling. BloFin says such an order may wait in the order book for up to 10 minutes and fill if the market moves back into the allowed range. If it still cannot fill after 10 minutes, it is canceled (source: BloFin Help Center, Price Limit Rules). Moving your limit price closer to the index, within about 3%, gives it a chance to fill.

Does the AMD perpetual's maximum order size limit your whole position?

The AMD perpetual's maximum order size applies to each order on its own, 2,000 AMD for a limit order and 200 AMD at market, so several orders can build a larger position (source: BloFin, AMDUSDT contract information). What changes as the position grows is the leverage. BloFin's position tiers run up to 200,000 AMD, and the maximum leverage falls tier by tier from 20x on the first 200 AMD to 1x on a position above 100,000 AMD (source: BloFin, AMDUSDT position tiers).

Does the insurance fund protect your AMD perpetual position?

The insurance fund protects the market more than any single position. It covers the shortfall when a liquidated position closes at a worse price than its margin can absorb. In isolated margin, a loss beyond the margin is therefore not passed to the trader (source: BloFin Help Center, Forced Liquidation Rules). Your own position can still be liquidated in full, and the margin behind it can be lost, however large the fund's balance is.

Where can you see the AMD perpetual's current contract specs?

BloFin shows the AMD perpetual's specs on the AMDUSDT contract information page, which has four tabs. Contract Information lists the tick, leverage, minimum and maximum order sizes, mark price, insurance fund and price-limit rules. Position Tiers shows the leverage and maintenance margin for each position size, Funding Rate lists past settlements, and Parameter Adjustments lists scheduled changes across BloFin's markets. The page changes as BloFin adjusts the contract, so read it on the day.

What does the funding line on the AMD perpetual's contract page mean?

The funding line on the AMD perpetual's contract page gives the funding schedule: funding is settled every eight hours, counted from 12AM Hong Kong time (source: BloFin, AMDUSDT contract information). That starting point is 4PM UTC, so the three settlements fall at 4PM, 12AM and 8AM UTC each day. A long or short open at a settlement time pays or receives that period's funding.

Researched and written by the BloFin Academy editorial team with AI-assisted drafting. All facts independently verified. Primary sources include BloFin's AMDUSDT contract information and position tiers pages, its Parameter Adjustments page, its AMDUSDT listing notice of May 6, 2026 and stock futures notice of April 21, 2026, and its help center articles on price limits, on index, mark and last price and on forced liquidation. They also include Investor.gov's guide to stock market circuit breakers, Britannica Money on futures contract specifications and AMD price history from Stock Analysis, current as of October 5, 2026.

Nothing in this article constitutes financial advice, and nothing in it is a recommendation to buy, sell or hold AMD in any form. BloFin can change the AMDUSDT Perpetual's leverage, order limits and position tiers without a separate announcement, so a spec read on one day may differ on the next. At 20x, a move of about 2.5% against a first-tier position can liquidate it, and outside regular weekday trading hours, and on weekends and market holidays, BloFin may accept only orders that reduce or close a position. Past performance does not indicate future results. Do your own research and consider your risk tolerance before you trade on BloFin.