1. Perpetual Exchange: Spark Perps
docs: https://docs.sprk.fi/
Funding Rate: Investigate how the funding rate is calculated and its impact on traders' positions over time.
Matching Engine: Examine the efficiency and fairness of the order matching process.
Multi-Collateral System: Assess the flexibility and risk management of allowing multiple types of collateral.
Profit and Loss (PnL) Calculation: Evaluate the accuracy and transparency of the PnL calculation process.
Liquidation Process: Scrutinize the criteria and mechanism for liquidating positions, ensuring it's fair and timely.
Oracle Functionality and Price Manipulation: Investigate the reliability of the oracle system and its vulnerability to manipulation.
Insurance Fund Management: Analyze how the insurance fund is managed to cover insufficiencies during trader position liquidations.