Real World Assets (RWAs)

RWAs are tradeable 24/7 and include commodities, equities, and fixed income markets. The Experimental Liquidity Provider (XLP) previously served as the primary liquidity provider for these markets. The Lighter Liquidity Provider (LLP) now manages liquidity and handles liquidations. RWAs are subject to liquidations in the same manner as all other markets on the exchange.

Leverage

Leverage does not change outside trading hours. A 10× long position on Gold (XAU) remains unchanged, and there is no requirement to reduce exposure. However, price volatility may increase at market open.

Market structure

All RWA markets support both Isolated and Cross Margin modes. However, opening RWA positions under Cross Margin is currently restricted due to the experimental and volatile nature of these markets.