Introduction of USDT Perpetual Contracts

1，What are the trading hours of USDT perpetual contracts?

Trading of USDT perpetual contracts operates 24/7.

2，What types of trading are available for USDT perpetual contracts?

Trading types are divided into two categories: opening and closing positions. Opening and closing positions involve buying and selling in two directions:

1. Open Long (Bullish): This involves purchasing a certain quantity of a contract when a user is bullish on the index. Upon successful execution, this will increase the long position.
2. Closing Long (Long Position Liquidation): This involves selling contracts to hedge against future market conditions. Upon successful execution, this will decrease the long position.
3. Open Short (Bearish): This involves selling a certain quantity of a contract when a user is bearish on the index. Upon successful execution, this will increase the short position.
4. Closing Short (Short Position Liquidation): This involves buying contracts to hedge against future market conditions. Upon successful execution, this will decrease the short position.

3，What are the order types for USDT perpetual contracts?

Limit Order : Users specify the price and quantity of the order. A limit order sets the maximum price a user is willing to buy or the minimum price a user is willing to sell. After setting the limit price, the market will prioritize matching orders in favor of the user.

Trigger Order : Users can set trigger conditions, order prices, and quantities in advance. When the latest market price meets the trigger conditions, the system will place an order based on the pre-set order price and quantity (i.e., a limit order).

Market Order : Opening orders placed by users will be executed at the current market price within the range of the order book.

Flash Close : This involves liquidating positions based on the opponent's price, with execution occurring at the best available price. Lightning Close aims to achieve predictable results and avoid losses when the market experiences rapid fluctuations.

4，What leverage is supported for USDT perpetual contracts?

USDT perpetual contracts support leverage of 1x, 2x, 3x, and higher leverage multiples, with a maximum leverage multiple of 125x.

For example : in a BTC/USDT perpetual contract with a leverage of 10x, a user only needs to have 10 USDT as collateral to open a long/short position worth up to 100 USDT in BTC contracts to potentially gain more profit.

Users need to select the leverage multiple before opening a position. After opening a position or having pending orders, users cannot switch the current leverage multiple for that contract.

Note :

1. Only contract varieties that are in trading status can switch leverage multiples.
2. If there are limit or stop orders for the contract variety, the leverage multiple cannot be switched.
3. Switching the leverage multiple will be prevented if it results in the available collateral assets of the account being less than 0.
4. Switching the leverage multiple will be prevented if it results in the collateral ratio of the account being less than or equal to 0.
5. Switching the leverage multiple is not guaranteed to be successful and may fail due to factors such as the contract variety being in a non-trading status, insufficient collateral assets, network issues, or system problems.

5，What is a contract position ?

After a user opens a position, they have a contract position. Positions of the same direction for the same contract currency in USDT perpetual contracts are consolidated. In the same contract account, there only can be 2 positions, such as long and short positions for BTC/USDT contracts.

6，Are there position/order limits for USDT perpetual contracts ?

Yes, the platform imposes limits on the quantity of USDT perpetual contracts held by a single user, as well as the quantity of contracts for individual opening/closing orders, to prevent market manipulation.