Pacifica is a high-performance crypto trading platform offering perpetual and spot markets. Perpetual contracts let you hold leveraged exposure to an asset indefinitely — there is no expiry date — while spot markets allow you to buy and sell the underlying asset directly, quoted in USDC. Over thirty-five perpetual markets are currently listed, with new pairs regularly added based on community feedback, liquidity, and market demand.Documentation Index
Fetch the complete documentation index at: https://mintlify.com/pacifica-fi/docs-migrate/llms.txt
Use this file to discover all available pages before exploring further.
Instrument Types
Pacifica supports two core instrument categories:- Perpetual contracts — Linear perpetuals settled in USDC. Positions are continuously marked to market using the Mark Price, and hourly funding payments keep contract prices aligned with the underlying spot market.
- Spot markets — Direct purchase and sale of base assets quoted in USDC. Spot positions always trade at 1x leverage and can serve as collateral for perpetual positions under the unified margin system.
Margin Modes
- Cross Margin
- Isolated Margin
Cross margin is the default. Your USDC balance, unrealized PnL from all cross perpetual positions, and LTV-adjusted spot holdings are pooled into a single equity figure that backs every cross position simultaneously.If one position generates losses, the shared pool absorbs them, which can move liquidation prices on other positions. Cross margin maximizes capital efficiency but increases correlated-position risk.
Leverage
| Market Type | Leverage Range |
|---|---|
| Perpetuals | 3x – 50x (varies by asset) |
| Spot | 1x |
All subaccounts share the master account’s fee tier. Subaccount volumes count toward the master account’s 14-day rolling volume for fee-tier calculations.
Oracle Price and Mark Price
Pacifica uses two distinct prices for different purposes:- Oracle Price — Updated every 3 seconds as a weighted average of USDT-denominated prices from Binance (weight 2), OKX (weight 1), Bybit (weight 1), and Hyperliquid (weight 1). Used as the primary reference for funding rate calculations.
- Mark Price — The median of three components: (1) the Oracle Price, (2) the median of best bid, best ask, and last trade on Pacifica, and (3) the perpetual price from major external exchanges. Mark Price is used for liquidations, margin requirements, and unrealized PnL calculations.
Pre-Markets
When Pacifica lists a new perpetual before the underlying asset appears on major exchanges, the oracle references Pacifica’s own Mark Price instead of external sources. An exponential moving average (EMA) is applied to the internal price to limit manipulation, and a ±30% price band is enforced. Pacifica also caps open interest strictly on pre-market pairs. Once the asset begins trading on major venues, their pricing feeds are incorporated into the oracle to improve robustness.Settlement Mechanism
Pacifica contracts are continuously settled — there is no expiry or delivery date. Key settlement events:- Funding payments are applied every hour directly to account balances. Positive funding means longs pay shorts; negative funding means shorts pay longs.
- Realized PnL is credited or debited immediately when a position is fully or partially closed.
- Unrealized PnL is recalculated continuously from Mark Price and affects margin and liquidation thresholds.
Explore Further
Order Types
Market, limit, stop, TP/SL, reduce-only, and time-in-force options explained.
Margin and Leverage
Cross vs isolated margin, unified margin, and how leverage affects your positions.
Funding Rates
How hourly funding rates are calculated and their impact on long and short positions.
Trading Fees
Fee tier table, VIP tiers, and how your 14-day rolling volume determines your rate.
Liquidations
Three-tiered liquidation process, liquidation price formula, and how to avoid liquidation.
API Documentation
Programmatic access to market data, order management, and account endpoints.
Access to trading on Pacifica is strictly prohibited for individuals or entities residing in, incorporated in, or operating from the United States of America, Cuba, the Crimean Peninsula (including Sevastopol), Iran, Afghanistan, Syria, and North Korea, among other restricted jurisdictions. Access from restricted IP addresses is programmatically blocked.