2. USDT Margined Perpetual Contract Specifications

Instrument / symbol

USDT-PERP

Contract unit

USDT

Underlying asset

BIT index price

Settlement

The realized profits and losses generated from user trading of contracts or options will be immediately transferred to the account balance.

Unrealized profits and losses will not be settled daily; users need to close positions to realize and settle profits and losses.

Delivery

No delivery

Mark price

BIT Index + 30 seconds EMA* of (Average of Fair Bid & Ask  - BIT Index)

Read here for more details

Trading band

+/- 3% from BIT Mark Price

Leverage

1-50x leverage (cross margin), which will be decided by position

Max position

The maximum position for a single instrument cannot exceed 2,000,000 USDT

Funding

Funding is calculated and charged every 10 seconds
Funding is settled every 8 hours. For the closing transaction of the perpetual contract, the funding fee will be settled to the user immediately and in real-time and recorded in the form of a settled funding fee. If the position is partially closed, the settlement will be proportional. The remaining unsettled portion is settled at the end of every 8 hours.

Funding Rate calculation

Fees

Maker: 0.04%   Taker: 0.06%  Check VIP fee rates here

Forced liquidation fee: 0.5%

Block trade

Supported

Instrument

Min Size

Size Step

Min Price

Price Step

Max position

Max Open Orders

Upper/Lower Bound

Order Price Cap

BTCUSD PERP

0.01 BTC

0.01 BTC

0.1 USDT

0.1 USDT

2,000,000 USDT

100

0.50% / 0.50%

1.50%

ETHUSD PERP

0.1 ETH

0.1 ETH

0.01 USDT

0.01 USDT

100

0.50% / 0.50%

1.50%