USDT Perpetual Contract Trading Tutorial【 Mobile APP 】

USDT Perpetual Contract Trading Tutorial【 WEB 】》》》

Please follow the steps below to start your contract trading：

Step 1 : Log in to the mobile app, and【 Click 】the Future icon located at the bottom right corner.

Step 2 : Click on【 Open Perpetual Contract Trading 】

Step 3 : Click on【 Go To Open 】

Step 4 : Enter the quiz page to answer questions. Upon completing the quiz, you will be able to activate perpetual contract trading.

Step 5 : After completing the activation of contract trading, transfer funds to engage in contract trading.

① Click on【 Assets 】located at the bottom right corner.

Step 6 : Click on【 Transfer 】located at the top right corner.

Step 7 :

① Transfer USDT from your【 Spot Account 】to your【 Isolated Margin Account 】You can select the contract currency you wish to trade.

② Choose USDT.

③ Enter the transfer amount.

④ Click【 Transfer 】

• In USDT perpetual contracts, all contract varieties use USDT as the collateral asset. Users only need to transfer USDT to start trading. Currently, USDT perpetual contracts support transfers from Spot Accounts and Fiat Accounts. Transfers can also be made between different USDT perpetual contract accounts.

For example :

If a user wants to trade BTC/USDT perpetual contracts, they need to transfer USDT from their Spot Account to their Perpetual Contract Account – BTC/USDT.

Note : There are two modes for USDT perpetual contracts, namely Cross Margin and Isolated Margin .

Cross Margin : In this mode, the margin for all contract types is shared in one account. Profit and loss, used margin, and margin ratio are calculated collectively. When the margin is insufficient and one position is close to liquidation, the system will automatically close other positions first to maintain the margin for the position that is close to liquidation. Cross Margin Mode allows users to add margin at any time to avoid liquidation.

Isolated Margin : In this mode, each position is independent, with its own margin calculation. Equity and profit/loss are calculated separately, and do not affect each other. Isolated Margin does not allow users to add margin after opening a position. Therefore, users need to calculate their margin requirements before opening a position.

Step 8 :

① Choose【 Open Position 】or【 Close Position 】

② Select【 Market Order 】,【 Limit Order 】or【 Trigger Order 】

③ Choose the leverage level.

④ Enter the opening price. If selecting Market Order, the system will open the position based on the current market price.

⑤ Enter the quantity. You can choose to open positions in terms of BTC quantity, USDT, or contract quantity. The system will calculate the margin based on the selected type.

⑥ Set risk controls such as【 Take Profit 】and【 Stop Loss 】

⑦ Monitor market price fluctuations and decide whether to 【 Open Long (bullish) 】or【 Open Short (bearish) 】

Limit Order :

Enter price and quantity to place an order. A limit order specifies the maximum price the user is willing to buy or the minimum price. the user is willing to sell. After setting the limit price, the user only needs to wait for the order to be filled. Both opening and closing positions can use limit orders.

Market Order :

Simply enter the order quantity. The opening order placed by the user will be filled at the current market price within the range of the order book.

Trigger Order :

Set trigger price, order price, and quantity. When the latest market price reaches the trigger condition, the system will place an order according to the preset order price and quantity (i.e., limit order).

Take Profit and Stop Loss :

Pre-set closing orders with trigger conditions (take profit or stop loss prices) and order prices. When the latest market price reaches the pre-set trigger price, the system will place a closing order with the pre-set order price and quantity to the market, achieving the purpose of taking profit or stopping loss. Currently, there are two ways to place take profit and stop loss orders:

Note : During sharp market fluctuations or low market liquidity, this order may not be 100% filled.

Step 9 : After opening a position, you can view your holdings or pending orders at the bottom of the page.

① Click on the folder icon to view trading data such as【 All Orders 】,【 Order History 】,【 Transaction History 】etc.

② Use the【 Flash Close 】feature for instant position liquidation, where the system will close positions directly based on the entered quantity.

③ Use the【 Close Position 】feature for limit order position liquidation, where positions will be closed based on the set quantity and price.

How to Find the Calculator : Click on the menu icon【 ... 】located at the top right corner.

① 【 Rate 】Based on the price difference between the perpetual contract market price and the spot price, this calculates the periodic fee paid to long or short traders.

② 【 Contract Bill 】Select the trading pair you want to view, such as "BTC/USDT," to check trading data including "Bill" and "Bill Details."

③ 【 About Contract] 】View terms and regulations.

④ 【 Calculator 】You can use this calculator to calculate the amount you can open before opening a position, margin, liquidation price, and profit.

What is Funding Rate ?

The funding rate is a periodic fee paid by long or short traders based on the price difference between the perpetual contract market price and the spot price. When the market trend is bullish, the funding rate is positive and tends to increase over time. In such cases, long traders of perpetual contracts will pay funding fees to the opposing traders.

What is Trigger/Mark Price ?

In HKD, contract trading involves two different prices: the latest price and the mark price. The latest price refers to the most recent transaction price of the contract.

The mark price is calculated by taking the weighted average of prices from various major trading markets. This helps avoid price manipulation by individual order books or trading platforms and balances out and eliminates abnormal price fluctuations during high-volatility periods. The mark price is used to calculate unrealized profit and loss and margin ratios.

Click to learn more about mark prices and liquidation mechanisms 》》》