Trading Hours
Perpetual contracts operate on a 24/7 trading schedule, allowing you to open or close positions anytime. While holding a position, funding fees are settled periodically (e.g., every few hours). These fees may be positive (credited to you) or negative (debited from you). Learn more in our Funding Rate Guide.
Trading Types
1. Opening Positions
- Buy to Open Long (Bullish): When anticipating a price rise, buy a contract to increase your long position.
- Sell to Open Short (Bearish): When expecting a price drop, sell a contract to increase your short position.
Notes:
- Identical contracts must use the same leverage multiplier.
- Holding opposing positions (long and short) for the same contract is allowed (bidirectional trading).
2. Closing Positions
- Buy to Close Short: Exit a short position by buying back the contract.
- Sell to Close Long: Exit a long position by selling the contract.
⚡ Lightning Close: A market-order close that executes at the best available price, with unfilled portions converting to limit orders. This minimizes slippage during volatile markets.
Order Types
Limit Orders
Specify your desired price and quantity. The system prioritizes favorable prices:
- Buy: Executes at or below your limit price.
- Sell: Executes at or above your limit price.
Market Option: Enter only the quantity—orders fill at the current market price (optimal tier matching).
Stop-Limit Orders
Set trigger conditions, price, and quantity. When triggered, the system submits a limit order automatically.
Position Management
- Cross Margin: All positions share pooled collateral.
- Isolated Margin: Each position uses dedicated collateral; adjust margins individually.
Positions in the same perpetual contract and direction merge (e.g., 1 BTC + 2 BTC = 3 BTC).
Trading Limits
Platforms enforce restrictions to prevent market manipulation:
- Position Caps: Limits on holdings per contract.
- Order Size Limits: Max single-order volume for opens/closes.
Risk Controls: Exceeding limits may prompt forced actions (e.g., cancellations, liquidations).
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FAQs
Q: How are funding fees calculated?
A: Fees depend on the contract’s funding rate and your position size, settled periodically.
Q: Can I change leverage after opening a position?
A: No—leverage must be consistent for identical contracts.
Q: What’s the difference between cross and isolated margin?
A: Cross shares collateral across positions; isolated allocates it per trade.
Q: Why did my lightning close partially fill?
A: Unfilled portions convert to limit orders to avoid unfavorable prices.
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Note: Data and rules may update based on market conditions. Always verify current terms before trading.
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