Perpetual Contract
Hibt perpetual contract is a contract product settled with digital assets. Investors can buy long or sell short to obtain profits from the increase or decrease in the price of digital assets. The perpetual contract has no expiration and delivery date and will never arrive. Expect.
APP
1. Contract type
Hibt perpetual contracts are divided into two types: currency-based contracts and USDT contracts.
Coin-based contract: also known as inverse contract, the pricing unit is USD, and the currency used as collateral assets and calculation of profit and loss is the underlying currency (such as BTC, ETH, etc.). For example: If I want to make a BTC currency-based perpetual contract, I need to hold BTC to open an order, and the profit and loss settlement is also in BTC.
USDT contract: also known as forward contract, the pricing unit is USDT, and the currency used as collateral assets and calculation of profit and loss is USDT. As long as you hold USDT, you can conduct perpetual contract transactions in multiple currencies, and the profit and loss will be settled in USDT.
2. Account information settings
Click the [More] icon in the upper right corner of the transaction page—[Trading Settings].
3. Bullish, open long and close long
When you predict that the market will rise, you can choose to open a long position. Here we take the BTCUSDT perpetual contract as an example to introduce [Buy to open long] and [Sell to close long].
1. Buy and open long
Step 1: Enter the [Contract] page - click on the currency pair box [BTC/USDT] in the upper left corner;
Step 2: Click on the new page - [Contract] - [USDT Contract] trading area - select [BTCUSDT Perpetual].
Step 3: Select [Multiple Position Mode/Dual Position Mode], [Leverage Multiple], [Open Position], [Limit Price Order] - Enter [Price], [Quantity] - Click [Buy to Open Long] - [Confirm]
Notice:
· The difference between cross margin and isolated margin: In the cross margin mode, all available balances in your account will be used as your position margin; in the isolated margin mode, the margin locked when the initial order is placed is the maximum loss of this position.
· Leverage multiple: BTCUSDT perpetual contract supports up to 100 times leverage. The greater the leverage multiple, the higher the possible returns and the greater the risk.
· When opening a position, users can set stop-profit and stop-loss in [Second Order Confirmation] to avoid risks and lock in profits.
· If the amount of USDT is too small, there will be insufficient balance to place an order. Users can complete the order by adjusting the leverage multiple or increasing the amount of available USDT.
· Because contract trading adds leverage, it not only expands profits but also increases risks. If there is a large fluctuation in the price of BTC, your position is likely to be forced to be liquidated, so you must pay attention to market fluctuations in a timely manner and do a good job of taking profits and taking profits. damage.
2. Sell and end long
The Hibt perpetual contract can be closed in this place: the trading page and the specific position page. Users can choose according to their own situation.
To close long orders on the specific position page: click [Position] - select the specific position to be closed and click [Close] - enter [Price] or click [Market Price] - [Quantity] - click [Close].
3. Position view
After the position is successfully opened, the user can see the relevant data of his position in the [Position] list: average opening price, estimated liquidation price, initial margin, etc., as well as the rate of return and how much USDT was earned (lost), etc.
Glossary:
· Average opening price: the average opening price of the current position.
· Mark price: The latest mark price of the contract. This price is used to calculate profit and loss and margin. Hibt introduces marked prices, which can effectively avoid abnormal transactions.
· Liquidation price and margin rate: Under a unified account, if a user opens multiple contract positions, the estimated liquidation price may differ from the actual liquidation price. At this time, the estimated liquidation price can be used as a reference. It is recommended to use the margin rate allow. When the margin ratio of a contract position ≤ the position level, position reduction or liquidation will be triggered.
4.Pending order inquiry
At the bottom of the main page of opening a position, click [Current Order] - select the order method to view the current pending order, or click [Cancel Order] to cancel the pending order.
4. Bearish, open short and close short
When you predict that the market will fall, you can choose to open a short position. Here we take the BTCUSDT perpetual contract as an example to introduce [Sell to Open Short] and [Buy to Close Short].
1. Sell to open a short position
Step 1: Enter the [Transaction] page and click on the currency pair box [BTC/USDT] in the upper left corner.
Step 2: Click to switch the trading mode on the new page - [Perpetual] - [USDT Contract] (here you can also switch between USDT contracts and currency-based contracts) - Select [BTCUSDT Perpetual].
Step 3: Select [Multiple Position Mode/Dual Position Mode], [Leverage Multiple], [Limit Price Order] - Enter [Price], [Quantity] - Click [Sell to Open Short] - [Confirm].
2. Buy and close
To close a short order on the position page: click [Position] - select the specific position to be closed, click [Close] - enter [Price] or click [Market Price] - [Quantity] - click [Close].