Semiconductors -3x perpetual (SOXSUSDT) on QATS Prop

SOXSUSDT at a glance

Symbol

SOXSUSDT, 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 opposite of the daily move of the US semiconductor index.

SOXS is the mirror of SOXL: it is built to rise three percent for every one percent the chip index falls in a day, and to fall three percent for every one percent it rises.

Buying it is a way to position for a fall in chip stocks. In a rising or sideways market it loses value steadily, so it is used for short periods. Its low share price means one price tick is a larger share of its value than on most instruments.

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, inverted

Good news for chip stocks is bad news for this fund, three times over.

Sector sell-offs

It gains fastest when the chip sector falls sharply.

Volatility itself

Swings in both directions erode the fund over time.

Time

In a rising market it declines day after day.

What do traders watch?

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

When does SOXSUSDT 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.
• Buying this fund is a position against the chip sector; selling it short is a position for the sector.
• 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.