# Perpetual Contract User Guide ### **1. Getting Started with Contract Trading** * Click **"Futures"** on the homepage and then **"USDⓈM-Futures"** to enter the **Contract Trading** page.

* After logging in, you'll see: * Contract information * Order placement area * Order book and trade history * Position overview * Depth chart * A quick info panel (bottom left) with contract details, index prices, and FAQs for easy access. ### **2. How to Trade** #### **Step 1: Select a Trading Pair** Select the trading pair in the trade pair switching area. Mainly includes USDT contracts, currency-based contracts, and mixed contract trading.

#### **Step 2: Transfer Funds** * If your **contract account** lacks funds, transfer from your **spot account**. * If your spot account is also empty, you can deposit funds or purchase via fiat methods.

#### **Step 3: Contract Settings** **Leverage** * Adjustable up to **125 times** depending on the position size and risk limits. **Margin Modes** * **Cross Margin (Full Position)**: * Uses **your total available balance** as margin. * Profits from other positions may support losing ones. * Default setting. * **Isolated Margin (Restricted Position)**: * Uses **only the initial margin** set for the position. * Limits your loss to the margin assigned to that trade. * Best for high-leverage or short-term trades.

#### **Step 4: Placing an Order** **Order Types** * **Limit Order**:\ Sets a specific price. It may not fill immediately if the price is far from the market price. * **Market Order**:\ Executes instantly at the best market price. Good for quick entries/exits. * **Conditional Order (Trigger Order)**:\ Triggers when a preset price is reached. Useful for **setting Take Profit or Stop Loss levels**. * **Advanced Order Types**: * **Post Only (PO)**: Ensures you're always the maker. Cancels if it matches immediately. * **Immediate or Cancel (IOC)**: Fills as much as possible instantly; cancels the rest. * **Fill or Kill (FOK)**: Must be filled completely at once or canceled entirely.

#### **Step 5: Go Long or Short** * **Buy Long**:\ Expecting the price to rise. Buy now, sell higher later. * **Sell Short**:\ Expecting the price to fall. Sell now, buy back at a lower price. **Opening Cost Calculation:** Opening Cost = (Order Price × Quantity) / Leverage ### **3. Managing Positions** After an order fills, it becomes an **open position**. The platform displays: * **Position Size**: Quantity of contracts held * **Cost Price**: Average entry price (updated if you add to the position) * **Mark Price**: System-calculated fair price to avoid unfair liquidations > **Mark Price** is used instead of the last traded price to calculate unrealized profit/loss and determine liquidation risk. #### **Key Terms** * **Liquidation Price**:\ If the mark price reaches this level, the system will automatically close the position. * **Margin**:\ Required Margin = Position Value / Leverage * **Initial Margin**:\ Minimum required to open a position * **Maintenance Margin**:\ Minimum needed to keep a position open * **Profit and Loss (PnL)**: * Real-time updates based on the difference between cost price and mark price * Yield = Profit or Loss / Margin #### **Closing Positions** * **Limit Close**: Specify your exit price and the quantity you wish to sell. * **Market Close**: Specify quantity; the order is filled at market price. #### **Take Profit / Stop Loss (TP/SL)** You can assign TP/SL to each position: * **Take Profit**:\ If the latest price is **equal to or above** the trigger price, a closing order is submitted. * **Stop Loss**:\ If the latest price is **equal to or below** the trigger price, a closing order is submitted. ### **4. Contract Configuration** #### **Position Type** * **One-Way Mode**:\ Only one direction (long or short) is allowed per symbol. * **Two-Way Mode**:\ You can hold both long and short positions at the same time on the same symbol. #### **Order Confirmation** Enable or disable the pop-up confirmation box for placing orders. #### **Contract Unit** Allows you to customize the display of the number of contracts on the trading interface. ### **5. Margin Models** #### **Isolated Margin** * Margin is limited to that individual position. * You can **manually adjust the margin**. **Adjusting Margin:** * **Maximum Reduction** = Total equity for the position - Initial margin (or 0, whichever is higher) * **Maximum Increase** = Available balance #### **Cross Margin** * All available funds in the account act as shared margin. * You **cannot adjust the margin manually**. * Liquidation is triggered if the overall account balance can't meet maintenance requirements. #### **Important Note** > You **cannot switch** between Cross and Isolated margin modes while holding positions or having active orders.