What is a perpetual contract?
From a trading perspective, perpetual contracts are similar to traditional futures contracts, but they are not exactly the same as traditional contracts. Perpetual contracts have no expiration date or settlement date, and users can hold them forever. This is why it is called perpetual.
Contract | BTCUSDT | ETHUSDT | EOSUSDT | BCHUSDT | LTCUSDT | XRPUSDT |
Type | Perpetual | Perpetual | Perpetual | Perpetual | Perpetual | Perpetual |
Contract subject | BTCUSDT Index |
ETHUSDT Index |
EOSUSDT Index |
BCHUSDT Index |
LTCUSDT Index |
XRPUSDT Index |
Minimum transaction unit | 0.001 BTC | 0.01 ETH | 1 EOS | 0.01 BCH | 0.1 LTC | Integer multiples of 10 |
pricing unit | USDT | USDT | USDT | USDT | USDT | USDT |
Minimum change unit | 0.1U | 0.01U | 0.001U | 0.01U | 0.01U | 0.0001U |
margin type | USDT | USDT | USDT | USDT | USDT | USDT |
Liquidation basis | Mark price | Mark price | Mark price | Mark price | Mark price | Mark price |
Leverage | 1x-100x | 1x-100x | 1x-75x | 1x-100x | 1x-100x | 1x-75x |
Maintenance margin | 0.50% | 0.50% | 0.75% | 0.75% | 0.75% | 0.75% |
Margin system mode | Cross margin(default 10X) and Fixed margin | Cross margin(default 10X) and Fixed margin | Cross margin(default 10X) and Fixed margin | Cross margin(default 10X) and Fixed margin | Cross margin(default 10X) and Fixed margin | Cross margin(default 10X) and Fixed margin |
Contract | LINKUSDT | DOTUSDT | SUSHIUSDT | UNIUSDT | FILUSDT | AAVEUSDT |
Type | Perpetual | Perpetual | Perpetual | Perpetual | Perpetual | Perpetual |
Contract subject | LINKUSDT Index |
DOTUSDT Index |
SUSHIUSDT Index |
UNIUSDT Index |
FILUSDT Index |
AAVEUSDT Index |
Minimum transaction unit | 1 LINK | 1 DOT | 1 SUSHI | 1 UNI | 1 FIL | 0.1 AAVE |
pricing unit | USDT | USDT | USDT | USDT | USDT | USDT |
Minimum change unit | 0.001U | 0.001U | 0.001U | 0.001U | 0.001U | 0.01U |
margin type | USDT | USDT | USDT | USDT | USDT | USDT |
Liquidation basis | Mark price | Mark price | Mark price | Mark price | Mark price | Mark price |
Leverage | 1x-75x | 1x-75x | 1x-75x | 1x-75x | 1x-75x | 1x-75x |
Maintenance margin | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
Margin system mode | Cross margin(default 10X) and Fixed margin | Cross margin(default 10X) and Fixed margin | Cross margin(default 10X) and Fixed margin | Cross margin(default 10X) and Fixed margin | Cross margin(default 10X) and Fixed margin | Cross margin(default 10X) and Fixed margin |
What is the difference between perpetual contracts and other contracts?
Perpetual contracts have no expiration date or settlement date. As long as your position does not touch the liquidation line, you can hold it forever.
How to trade perpetual contracts?
- Select contract trading pair.
- Enter the price and quantity you want to open on the open position page. The system will automatically calculate the number of contracts that can be opened based on the price and quantity you enter. Click buy/long or sell/short, and the system will match your orders.
- After the opening order is successfully matched, you can see your current position information in the position.
- When closing a position, you only need to enter the price and quantity you want to close on the position closing page, and click close short or close long, and the system will match your order.
- After the closing order is successfully matched, you can see your transaction information in the transaction record.
Perpetual Futures Index Price
Perpetual Futures Index Price is obtained by taking the median of spot prices of Bibox, Huobi, OKex, and Binance, and then taking the weighted average value through the algorithm.
Margin and leverage
All margins are settled in USDT, and users can trade in two directions, buy/long or sell/short.
*Bibox Perpetual contracts provide 1-100 times leverage, you can customize the leverage multiples, and you can adjust the leverage twice after opening a position.
Perpetual contract market mechanism
When trading futures contracts, traders need to understand several mechanisms in the futures market, and the same applies to perpetual contracts.
- Anchor index: the opening price determines the unrealized profit and loss and the liquidation price, and the unrealized profit and loss is anchored by the spot index price.
- Initial and maintenance margin: the amount of margin will determine how larger leverage you could use, and which price will trigger liquidation.
Transaction fee
Transaction fee =average transaction price*transaction amount*transaction fee rate
Funds cost
Funds cost is generated every 8 hours, respectively at 00:00, 08:00, and 16:00 (GMT+8). Only when the user holds a perpetual contract position at the above three times, the funds cost will be incurred.
Contract leverage
Bibox USDT Swap Perpetual Contract supports 1-100 times leverage.
In simple terms, contract leverage is to enlarge your funds. For example, user A has 1 BTC asset. In order to get more income, using 10 times leverage and using 1 BTC as margin, he can mobilize 10 BTC.
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