What is Perpetual Contract Trading?
3EX offers perpetual contract trading in USDT-Margined mode, which is a linear futures product quoted and settled in USDT, a stable coin pegged to the value of the US dollar.
The biggest advantage of USDT-Margined contracts is that you can easily calculate your returns in fiat currency, making it more intuitive. For example, when you earn a profit of 500 USDT, you can easily evaluate that this profit is almost worth 500 USD - because the value of 1 USDT is approximately equal to 1 USD.
What are the features of USDT-M Perpetual Futures?
The contract is priced and settled in USDT.
Expiration date: perpetual.
Clear pricing rules: Each USDT-Margined futures contract specifies the delivery quantity of the underlying asset in a single contract, also known as the "Contract Unit". For example, BTC/USDT, ETH/USDT, and BCH/USDT futures contracts represent only one unit of their respective underlying assets, similar to the spot market.
Funding rate: The USDT-Margined perpetual contract incurs funding fees, which are transferred between traders and collected every eight hours.
What types of orders are supported for contract trading?
Market order: The system reads the latest market price and places a limit order at this market price. (If the user is buying, the market price is the selling price at the best bid; if selling, the market price is the buying price at the best ask.)
Limit order: The system restricts the buying/selling price, so that the buying price cannot exceed the highest bid price, and the selling price cannot be lower than the lowest ask price.
Trigger order: Set the trigger condition, price, and quantity in advance. When the latest market price reaches the trigger condition, the system will place a limit order at the price and quantity set in advance.
a. When placing a “Trigger order”, the assets in the account will not be frozen. Only after the order is successfully placed, the account assets will be frozen.
b. Unfilled orders and trigger orders can be canceled at any time by the user.
How to trade Crypto futures?
1.Fund transfer
Transfer the corresponding digital assets of the contract variety from the spot account to the futures account.
2. Choose the type of futures contract
For example, BTCUSDT, enter the futures trading page.
3. Choose the number of contracts and leverage multiples
Choose in units of contracts, for BTC futures, the face value of one contract is 0.001BTC. For example, 1000 BTC contracts represent the purchase of a contract worth 1 BTC. Assuming the current market price of BTCUSDT is 20,000, if you choose 20X leverage, to buy and open a long position for 1 BTC (1000 contracts) worth of contracts, you only need to provide 1,000 USDT as margin.
4.Open and close positions
If you are bullish on the digital asset, buy to open long; if bearish, sell to open short. If you hold long positions, sell to close long; if you hold short positions, buy to close short.
Users can choose between cross-margin mode or isolated-margin mode.
Cross-margin mode: All positions share the margin in the contract account to avoid positions being liquidated. In a liquidation event, the trader may lose all margin and positions.
Isolated-margin mode: A fixed amount of margin is allocated to each position. If the position margin falls below the maintenance margin level, the position will be liquidated. In isolated-margin mode, you can add or reduce margin to this position.
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