USDT Perpetual Contract Trading Tutorial【 WEB 】

USDT Perpetual Contract Trading Tutorial【 Mobile APP 】》》》

Please follow the steps below to start your contract trading ：

Step 1 : Log in to the HKD.com web version and click【 Derivatives 】at the top and select【 Perpetual Contract 】

Step 2 : Click on【 Open Futere 】

Step 3 : Click on【 Go To Open 】

Step 4 :

① Enter the quiz page to answer questions.

② Upon completing the quiz, Click Open Contract .

Step 5 : After enabling contract trading, transfer funds to start contract trading.

① Click on the profile icon at the top right corner.

② Click on【 Assets 】

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

Step 7 :

① Transfer USDT from the【 Spot Account 】to the【 Isolated Margin Account 】 You can choose the contract pair you wish to trade.

② Select USDT.

③ Enter the transfer amount.

④ Click【 Confirm 】

• 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 rate 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 : How to Open a Position

⓪ You can choose to preset take-profit and stop-loss before opening a position or set them after opening the position by adjusting the settings on the right end of the position.

① Select Cross Margin or Isolated Margin.

② Choose the Leverage Multiplier.

③ Choose the current position direction. Click【 Open 】if you are opening a new position. If you want to set take-profit or stop-loss for an existing position, select【 Close 】

④ Choose【 Market Order 】，【 Limit Order 】or【 Trigger Order 】

⑤ Use the Calculator to estimate the amount you can open, the margin, the liquidation price, and the profit before opening a position.

⑥ Enter the opening price. If you select Market Order, the system will open the position based on the current price.

⑦ Enter the opening quantity. You can choose to open the position using BTC amount, USDT, or Contract Units. The system will calculate the margin based on the chosen type.

⑧ Based on market price fluctuations, click Open Long【 Bullish 】

⑨ Alternatively, based on market price fluctuations, enter the opening price and quantity to 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

After you have opened a position, you can view your held positions or order positions at the bottom of the page.

① Click【 All Records 】to view【 Historical Orders 】,【 Trade History 】and other transaction data.

② Click the【 Close 】Position feature to close positions at a limit price based on the set quantity and price.

③ Use the Flash Close feature to directly close positions based on the quantity you input.

④ Set risk controls for Take-Profit and Stop-Loss.

① Opening Price : The price you set when opening a position.

② Mark Price : Mark price is used to calculate unrealized P&L (profit and loss) and margin rate, and serves as a reference for triggering forced liquidation.

③ Margin Rate : margin rate is a risk measure for an asset in your account. When the margin rate falls below the maintenance margin rate, the position will trigger liquidation.

④ Maintenance Margin Rate : The minimum margin rate required to maintain your current position. When the margin rate is less than or equal to the maintenance margin rate plus the close fee rate, forced liquidation will be triggered.

⑤ Estimated Liquidation Price : The price at which your position will trigger forced liquidation when the mark price reaches this level.

Note : The estimated liquidation price includes fees, and the system will automatically perform forced liquidation when the price reaches this level.

⑥ Position Margin : The margin required to open a position.

⑦ Position Size : The quantity of the position, determined by the margin you input.

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 rates.

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