Overview
Coin-margined perpetual contracts allow traders to speculate on cryptocurrency prices without expiration dates. These contracts mirror traditional futures but eliminate settlement hassles through a funding fee mechanism.
Key Features
Trading Hours
- 24/7 Trading: Markets operate continuously
- Daily Settlements: Occur at 00:00, 08:00, and 16:00 (GMT+8)
- Trading Pauses: Brief interruptions during settlements (<5 minutes typically)
- Symbol-Specific Resumption: Different cryptocurrencies resume trading independently post-settlement
Core Transaction Types
| Action | Direction | Position Effect |
|---|---|---|
| Buy to Open | Long | Increases long position |
| Sell to Close | Long | Decreases long position |
| Sell to Open | Short | Increases short position |
| Buy to Close | Short | Decreases short position |
Order Types Explained
1. Limit Orders
- Specify exact entry/exit prices
Three execution modes:
- Post Only (Maker-only)
- Fill or Kill (FOK)
- Immediate or Cancel (IOC)
2. Stop Orders
- Triggers when market reaches preset price
- Converts to limit order upon activation
3. Market Orders
- Opponent Price: Matches best available bid/ask
- Optimal N Tiers: Executes across 5/10/20 price levels
- Flash Close: Covers 30 price tiers for urgent exits
Leverage Management
- Range: 1x to 200x
- Dynamic Adjustment: Traders can modify leverage on open positions
- Collateral Impact: Higher leverage reduces position margin requirements
Example:
5x BTC position at $10,000 → 3x adjustment at $12,000
Note: Changes margin ratio without affecting P/L
Switching Restrictions
- No pending orders
- Sufficient collateral must remain
- Available only during active trading
Position Limits
| Symbol | Max Position | Max Order Size |
|---|---|---|
| BTC | 300,000 | 45,000 (open) |
| ETH | 2,000,000 | 150,000 (open) |
Platform reserves right to enforce risk controls during volatile conditions
FAQ Section
Q: How often does funding occur?
A: Every 8 hours at 00:00, 08:00, and 16:00 GMT+8.
Q: Can I hold both long and short positions?
A: Yes, up to 2 positions per contract (long + short).
Q: What happens if I can't meet margin requirements?
A: The system will trigger auto-deleveraging or forced liquidation.
Q: Why would my leverage switch fail?
A: Common reasons include active orders or insufficient margin.
👉 Explore advanced trading strategies
Risk Management Tips
- Monitor collateral ratios regularly
- Use stop-loss orders during high volatility
- Start with lower leverage until comfortable
- Track settlement times to avoid interrupted trades
All specifications subject to change based on market conditions