Perpetual and futures trading offer lucrative opportunities for traders to capitalize on market movements. This guide covers essential steps—from placing orders to managing positions—while ensuring clarity and adherence to best practices.
How to Place an Order/Open a Position
To open a position, customize your order settings based on your strategy. Below are key parameters:
1. Margin Mode, Position Mode, and Leverage
| Parameter | Standard Account Details | Unified Trading Account Details |
|---|---|---|
| Margin Mode | Adjustable anytime with sufficient balance. Supports Cross/Isolated Margin. | Change only if criteria are met. Refer to differences. |
| Position Mode | One-Way (single direction) or Hedge (dual positions). | Hedged positions may auto-close during liquidation to protect MMR. |
| Leverage | Varies by risk limit tier. Adjusts initial/maintenance margin requirements. | Same as Standard Account. |
2. Order Types
Choose from:
- Limit/Market Orders
- Conditional Orders (e.g., Stop-Loss, Take-Profit)
- Advanced Strategies (e.g., Post-Only, Reduce-Only)
👉 Master advanced order types for optimized execution.
3. Price Settings
Understand triggers:
- Mark Price: Used for liquidations.
- Last Traded Price (LTP): Real-time execution.
4. Order Amount
Specify by:
- Quantity (e.g., 1 BTC)
- Cost (initial margin + fees)
- Order value (leverage-based)
5. TP/SL Configuration
- Set Take-Profit and Stop-Loss pre-fill.
- Modify post-execution under Current Orders or Positions.
6. Order Execution
Options:
- GTC: Good till canceled.
- IOC/FOK: Immediate or fill-or-kill.
Example:
A Limit order with Post-Only avoids taker fees.
How to Adjust Margin on Your Position
Under Isolated Margin Mode, adjust margins to recalculate liquidation prices:
- Add Margin: Lowers liquidation risk.
- Reduce Margin: Increases leverage exposure.
Scenarios:
- Partial Close: Extra margin reduces proportionally.
- New Position: Shared across total contracts.
👉 Leverage margin adjustments for risk management.
How to Check the Mark Price
Mark Price reflects global Spot indices and funding rates:
- View via Mark Price chart or order book (yellow indicator).
- Toggle settings for directional accuracy.
Pro Tip: Monitor Mark Price to avoid unexpected liquidations.
How to Cancel an Order
- Navigate to Current Orders.
- Click Cancel for pending orders.
Note: Executed orders cannot be canceled.
How to Close a Position
Methods:
- Manual Close: Click Close By Limit/Market.
Opposite Order:
- One-Way: Match direction/quantity.
- Hedge Mode: Use Close tab.
FAQ
Q1: Why did my conditional order fail?
A: Insufficient liquidity or price slippage.
Q2: How to avoid taker fees?
A: Use Post-Only Limit orders.
Q3: Can I change leverage mid-trade?
A: Only with no active risk of liquidation.
Final Notes
- Use Cross Margin for hedged positions.
- Regularly check Mark Price to manage risk.
- Optimize orders with Reduce-Only or Close On Trigger.
This guide ensures a seamless start to perpetual and futures trading. Happy trading!