Q: How to transfer BTC from Spot Account to Perpetual Contract Account?
A: Enter the asset management page, select spot account for transfer out, select contract account input the amount for transfer in, then BTC is transferred to the contract account without charge.
Q: What is a perpetual contract?
A: A perpetual contract is similar to a margin spot market, so its transaction price is close to the reference index price. It allows users to execute 100x leveraged transactions.
Q: What contracts does CoinBene offer?
A: CoinBene currently offers two types of contracts: BTCUSDT Perpetual Contract and ETHUSDT Perpetual Contract.
Q: How to trade a perpetual contract?
A: Enter the "Contract Trade" page, you can specify the price, quantity and direction to open a position.
Q: What is the holding position?
A: Holding position means to buy or sell a contract according to the market conditions and personal preferences. Buying a position is also referred to as going long, while selling a position is going short.
Q: Is the two-direction position possible?
A: CoinBene supports the two-direction position, that is to holding both long and short positions.
Q: What is close a position?
A: Selling the positions you hold is called "close a position".
Q: What is the unrealized PNL?
A: Unrealized PNL refers to floating profits and losses unsettled in the position, which will be transferred to the balance after liquidation and recorded as realized profit, which can be transferred to the spot account after settlement.
Q: What is the realized PNL?
A: The profits and losses of the position that has been closed, which will be transferred to the balance immediately.
Q: How to calculate the unrealized PNL?
· BTC Unrealized PNL:
Unrealized PNL of Long Position = Amount of Holding Positions * (1/Ave Opening Price-1/Closing Price)
Unrealized PNL of Short Position = Amount of Holding Positions * (1/Closing Price-1/Ave Opening Price)
· ETH Unrealized PNL:
Unrealized PNL of Long Position = Amount of Holding Positions * (Current Fair Price-Ave Opening Price)*Multiplier
Unrealized PNL of Short Position = Amount of Holding Positions * (Ave Opening Price - Current Fair Price)*Multiplier
Q: What is leverage? Does CoinBene provide leverage?
A: Leverage is a common financial transaction system, namely the margin system. "Leverage" enlarges the amount that traders can trade, and at the same time enlarges the returns and risks that traders receive. CoinBene offers up to 100x leverage, which means you can buy contracts with a value of up to 100 BTC using only 1 BTC. High leverage can accelerate profits, but accelerate losses as well. To reserve sufficient margin available can avoid liquidation losses due to sharp fluctuations in the market.
Q: How much leverage does CoinBene provide?
A: At present, CoinBene provides 2x, 3x, 5x, 10x, 20x, 40x, 50x, 100x leverage. It is suggested that users should not use excessive leverage and invest rationally.
Q: What is the Opening Margin?
A: The Opening Margin is the minimum amount of BTC required for opening a position.
Q: What is the Maintenance Margin?
A: The Maintenance Margin is the minimum amount of BTC needed to keep the position from getting liquidated. If your margin balance in this position is below the Maintenance Margin, your position will be liquidated. Maintenance Margin = Position Value * 0.05%
Q: Why was a position liquidated?
A: When the price falls to the liquidation price of the long position or rises to the liquidation price of the short position, your margin decreases to 0.05% or less of the position price, the position is liquidated.
Q: How to charge the contract fees?
A: The contract fees will be adjusted from time to time with the transaction frequency. For the current fees, please see the Table below.
Funding Rate Session
Q: What is the Funding?
A: The buyer and seller exchange the Funding every 8 hours to ensure that the transaction price of the perpetual contract keeps up with the underlying reference price.
Q: Why set up a Fair Price Marking system?
A: The Fair Price Marking can avoid unnecessary liquidations due to market manipulation or lack of liquidity.