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Perpetual Contract Usage Guide
Perpetual Contract Usage Guide
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Written by Online Support
Updated over a week ago

1. Enter the contract transaction

  1. 1 .Click "Contract Trading" on the home page to enter the contract trading page

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2. Enter the contract trading page and log in to understand the content of the information in each section, including: contract information, submission of orders, order list, latest transactions, position records, depth charts, etc. At the same time, the contract information section at the bottom left shows the relevant information of the contract, and lists your common problems and index information in the transaction, which is easy to check at any time!

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2. Transaction

  1. 1 .select trading pair

Select a trading pair in the trading pair switching area. It mainly includes USDT contracts, currency-based contracts and mixed transactions.

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2. Fund transfer

If the current available funds are insufficient, the funds in the currency account can be transferred to the contract account. If there is still no funds in the currency account, recharge or fiat currency transactions can be performed.

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3. Contract Settings

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  1. 1 .lever

Currently, there are multiple levels of adjustable leverage multiples to choose from, up to 125 times leverage

  1. 1 .Full warehouse

Also known as "cross-period margin", it refers to the use of all available balances in the account as margin to avoid forced liquidation. Any other positions that have realized profits can help add margin on losing positions. Please note that all positions are initially set to "Cross Margin" by default.

  1. 1 .Isolated position

The user's maximum loss is limited to the initial margin used. When a position is liquidated, any available balance will not be used to increase the margin for that position. By isolating the margin used by a position, you can limit the losses on that position to the initial margin amount, helping you when your short-term speculative trading strategy fails. When using isolated margin, you can choose the appropriate leverage. The higher the leverage, the less margin will be used for this position.

4. Submit an order

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  1. 1 .limit order

A limit order is used by traders to specify the highest or lowest price for buying and selling, and traders reduce their transaction costs by limiting the order price. However, if the order price is far from the current market price, the order may not be filled. In the limit order, the user needs to input the limit order price and the number of positions.

  1. 1 .market order

Market order refers to the immediate transaction in the current market. When traders need urgent transaction orders, they will choose this type. Selecting this type is to pay attention to the order list, otherwise a huge market order may "break down the list" and cause market shock costs. When trading a market order, you only need to enter the open position value or the open position quantity.

  1. 1 .condition sheet

When the price fluctuation reaches the specified trigger price, the buying and selling operation will be carried out at the specified execution price. Traders can use this type to set orders to take profit and stop losses on the held positions. It can also be set to open positions at the specified execution price after the specified price is triggered to reduce their transaction costs.

How to set up a conditional order >> how to set up a conditional order

  1. 1 .Advanced Limit Order

PO: "Just do Maker (Post only)", it will not be traded in the market immediately, to ensure that the user is always a Maker; if the order will be traded with the existing order immediately, then the order will be cancelled;

IOC: "ImmediatelOrCancel (Immediately fill and cancel the remaining)", if your order is set to "Immediately fill and cancel the remaining", any unfilled part will be cancelled immediately;

FOK: "Fill all or cancel immediately (FillOrKill)", the order will only be filled immediately, otherwise it will be cancelled.

  1. 1 .buy long

If the trader judges that the price will rise in the future, he will go long and buy a certain number of contracts.

Going long is actually buying a contract at a suitable price, waiting for the market price to rise and then selling (closing the position) to earn the difference, similar to spot trading, referred to as "buy first and then sell"

  1. 1 .sell short

If the trader judges that the price will fall in the future, he will go short and sell a certain number of contracts.

Short selling is actually to sell the contract at the right price first, wait for the market price to drop and then buy (close the position) to earn the difference, which is referred to as "sell first and then buy".

  1. 1 .cost

Cost of opening a position = opening value/leverage, which is the margin required to open a position, and the unit is the currency of the contract margin.

3. Positions

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A position will be created after the order is opened. The current position list shows the positions of all transactions. The position information is as follows:

  1. 1 .Quantity that can be closed: the number of positions remaining to be closed in the current position

  2. 2 .Cost price: The average opening price of the current position, and the cost price will be recalculated each time a new position is added.

  3. 3 .Mark price:

The perpetual contract on this platform adopts a uniquely designed marking price marking system to avoid unnecessary forced liquidation of high-leverage products. Without this system, the mark price could deviate unnecessarily from the price index due to market manipulation or illiquidity, leading to unnecessary liquidations. This system uses the mark price as the liquidation judgment price, thereby avoiding unnecessary liquidation.

All automatic liquidation contracts use the reasonable price marking method, which only affects the liquidation price and unrealized profit, and has no effect on realized profit.

Note: This means that you may see a positive or negative unrealized profit and loss immediately after your order is executed. This happens because of the slight deviation between the mark price and the strike price. This is normal and does not mean you have lost money, but be sure to keep an eye on your liquidation price to avoid premature liquidation.

Learn More Mark Price >>

Liquidation price: When the marked price reaches the liquidation price of the position, the system will close the position. Please pay attention to the risk of the position and increase the margin or close the position in time.

  1. 1 .Margin: Margin = position value/leverage,

All contracts in perpetual contracts require a certain margin, and margin trading also makes your contracts have greater leverage.

In the process of margin trading, the following points need to be paid attention to.

Initial Margin: The minimum amount of margin required to open a position, and the initial margin rate (position value/position margin) also reflects your leverage.

Maintenance Margin: The minimum margin requirement for maintaining a position, below this ratio will trigger a liquidation event or a partial liquidation event.

  1. 1 .Profit/Loss/Yield: The profit and loss of the current position calculated based on the cost price and the mark price, including the settled profit and loss and the unsettled profit and loss, yield = profit and loss/margin

  2. 2 .Closing a position at a limit price: To close a position at a limit price, you need to fill in the closing price and quantity

  3. 3 .Market Closing: To close a position at a limit price, you only need to fill in the closing amount

  4. 4 .Take Profit and Stop Loss:

Take profit and stop loss can be set for each open position, according to the latest price and the set trigger price as trigger conditions,

When the latest transaction price is greater than or equal to the trigger price, the take profit will be triggered. After triggering, the closing order will be submitted at the order price and order quantity;

When the latest transaction price is less than or equal to the trigger price, the stop loss will be triggered. After triggering, the closing order will be submitted at the order price and order quantity.

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How to Set Take Profit and Stop Loss >> How to Set Take Profit and Stop Loss

4. Contract Settings

1. Position Type

The contract supports users to select two-way position and one-way position type. Under the one-way position mode, a contract can only hold a position in one direction. Under the two-way position mode, a contract can hold positions in both directions at the same time.

2. Confirm the order pop-up box

Whether a second confirmation popup is required when setting a transaction

3. Contract unit

The contract unit is the transaction quantity unit on the front-end transaction page. After modification, the transaction quantity in the order area and order list on the transaction page will be modified to the set contract unit

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