Semiconductors 3x perpetual (SOXLUSDT) on QATS Prop

SOXLUSDT at a glance

Symbol

SOXLUSDT, a USDT-margined perpetual future with no expiry

Challenge

QATS Prop TradFi challenges

Priced from

Binance

Listed on

Binance and Bybit

Max leverage

Up to 10× on the current plans, chosen per order

Funding

The exchange’s funding rate, paid or received at its funding times and added to the position’s P&L

Risk day

Starts at 17:00 Chicago time, an accounting boundary, not a pause

Hours

24/7; the fund trades 09:30–16:00 New York

What is Semiconductors 3x?

Three times the daily move of the US semiconductor index.

SOXL is a fund built to return three times the daily performance of an index of large US-listed chip companies. If the index rises two percent in a day, the fund aims to rise six; if it falls two, the fund falls six.

It is one of the most heavily traded funds in the world, used for short-term positions on the chip sector. The three-times target resets every day, so over longer periods its result differs from three times the index, usually for the worse in a choppy market.

Aims for

+300% of the index’s daily move

Index

Large US-listed semiconductor companies

Issuer

Direxion

What moves the price of Semiconductors 3x?

The semiconductor index

Everything that moves chip stocks reaches the fund three times over.

NVIDIA and the largest holdings

A few companies carry most of the index.

AI spending

Capital-spending plans of cloud companies drive the sector.

Volatility itself

Large swings up and down erode the fund even when the index recovers.

What do traders watch?

• Earnings of the large chip makers
• US export rules
• Federal Reserve decisions

When does SOXLUSDT trade?

The perpetual trades around the clock, but it follows a market that is open 09:30 to 16:00 New York time. Outside those hours, and at weekends, the book is thinner and spreads are wider.

What are the risks of trading Semiconductors 3x on a prop account?

• The three-times target applies to one day at a time. Over weeks the result drifts away from three times the index, and a choppy market wears the fund down even when the index ends flat.
• A normal day here is the size of an unusual day in a stock: ranges of eight percent are ordinary.
• The market it follows is closed at weekends. A position held through the weekend meets Monday’s opening price, which can be far from Friday’s close.