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Perpetual Futures is a digital asset derivative product in which a user can buy long or sell short by predicting the ups and downs of a contract to gain profits. If you choose to go long, it means that you expect the price of the contract you are buying to rise in the future. Conversely, if you choose to go short, it means you are selling the contract with the expectation that its value will fall in the future. Perpetual contracts have no delivery date and can be held always. The perpetual contracts are settled every 8 hours and after each settlement the realized profit and loss and unrealized profit and loss are transferred to the user's account balance.
Trading time
Perpetual swaps transactions 7 * 24 hours. Currently, settlement is performed every 8 hours, and settlement takes place in three time periods of 00:00, 8:00 and 16:00(GMT+8). The transaction will be interrupted during the settlement period. The amount of time to interrupt a transaction depends on the time-consuming settlement of the system.
The interruption and recovery of perpetual swaps are differentiated by variety, that is, if the BTC variety is still being settled and other digital currency varieties have been settled, then other digital currency varieties can resume trading first.
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Trading Types
Trading types can be divided into opening and closing positions. Each type can be further divided into two directions, long and short:
Open long position means that users buy a certain number of contracts when the index is bullish. When the transaction is concluded, long positions will increase.
Close long position means that users exits the market by offsetting owned buying contracts when the index is not bullish. When the transaction is concluded, long positions will decrease.
Open short position means that users sell a certain number of contracts when the index is bearish. When the transaction is concluded, short positions will increase.
Close short position means that users exit the market by offsetting the selling contract held currently when the index is not bearish. When the transaction is concluded, short positions will decrease.
Position
Users will get positions after opening positionsļ¼ Positions in the same direction of the same types of perpetual swaps are merged. In one perpetual swaps account, there can only be a maximum of 2 positions, long positions perpetual swaps, and short positions perpetual swaps.
- Perpetual swaps of a single type will be combined. If the user opens 1 BTC perpetual swap first, and then opens 2 BTC perpetual swaps, then 3 BTC perpetual will be displayed at the position, they will not be separated.
- When closing a position, the cost is calculated using the moving average method. That is, closing a position does not distinguish which position is the closed position, but calculates the income based on the position priceĀ as the cost price.
NOTE:
Ā 1. Only the leverage of futures in trading status can be switched when holding positions.
2. Users with positions held can only switch leverage when they have no open limit orders and trigger orders.
3. Only the leverages available for a user can be switched to;
4. If after leverage switching the Available Margin is less than 0, the switching will not be successful.
5. If after leverage switching the margin ratio is less than or equal to 0, the switching will not be successful.
6. Leverage switching may fail due to problems like non-trading status, insufficient margin, network problems, or system problems.
Order types
Limit order: The user needs to specify the price and quantity of the order. The limit order specifies the highest price that users are willing to buy or the lowest price that they are willing to sell. After the user sets the limit price, the market will prioritize the transaction at a price that is favorable to the user. Limit orders can be used to open and close positions. The limit order can choose three effective mechanisms, "Post only", "FOK (Fill Or Kill)", "IOC (Immediate Or Cancel)"; when no effective mechanism is selected, the limit order defaults to "always valid".
Trigger order: The user can set the trigger price and its order price and quantity in advance. When the market's latest transaction price reaches the trigger price, the system will place an order based on the order price and quantity set in advance (ie, limit order).
Marker orderļ¼the system will refer to the IOC to place an order, and the order will be filled at the best price in the current market, and the unfilled amount will be cancelled.
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Leverageļ¼1x, 2x, 3x and higher multipliers are supported, with a maximum of 100x.
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