Kick-start USDT-Margined Futures Trading
A Step-by-step guide for trading simulation
We’re launching the USDT-margined futures this week! This new virtual derivative product is quoted and settled in USDT stablecoin, and each contract has a face value of a fixed amount of cryptocurrencies. Traders can long a position to profit from the increase of a cryptocurrency’s price, or short a position to profit from the decline of a cryptocurrency’s price.
Some key features of our USDT-margined futures include:
- Linear Contract — simpler for traders and does not need to hedge the margin risk of inverse contracts
- Leverage Level: 0.01–100x
- Supported pairs: BTC, EOS, ETH, LTC, BCH, XRP, ETC, BSV, TRX
- Trading Hours: 24/7
- Daily Settlement
Let’s get started!
Step 1. Login
Login to your OKEx account on www.okex.me. Click on Derivatives → Futures → Futures with USDT Margin.
Step 2. Setup Margin
Click on Margin Mode. Select Fixed or Cross margin mode and adjust your Leverage between 0.01x–100x.
Toggle between BTC or Contracts to select the crypto you wish to use.
Step 3. Open Positions
Click on Open and enter the bid price (you can select BBO, aka Best-Bid Offer, which will execute the order ASAP). Enter the number of contracts you wish to open next to Amount(Cont), then choose between Open Long and Open Short to open your positions.
Step 4. Close Positions
Click on Close and enter the price you wish to close the position (you can select BBO, which executes the order ASAP). Enter the number of contracts you wish to close next to Amount(Cont), then choose between Close Long and Close Short to close your positions.
Step 5. P/L Calculation
To calculate P/L for longing or shorting USDT futures:
- Long USDT futures = (Close price-open price)* number of contracts* face value
- Short USDT futures = (Open price-close price)* number of contracts* face value
Here’s an example of how to calculate P/L:
Suppose we buy long on BTC/USDT trading pair, the opening price starts at 9,600 USDT and the closing price is 9,186.8 USDT, with a total of 1,111 contracts and a face value of 0.0001. The P/L would be:
(9186.8–9600) x 1111 x 0.0001= 45.9USDT
Join Trading Simulation on OKEx Today
To celebrate the launching of our USDT-margined futures, we’re now giving out 100,000 USDT to users who participate in the trading simulation. Join now at www.okex.me!
Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.
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