<img src="https://uploads.bydfi.in/events/cms/BYD.1744342153771.image.png" alt="BYD.1744342153771.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744342153771.image.png" style="width: 100%;"/>Differences in Trading Mechanisms Between CEX and DEXBefore understanding why the execution price might differ from the expected price, it's important to distinguish the trading mechanisms of centralized exchanges (CEX) and decentralized exchanges (DEX). CEX Order Book MechanismPrice Determination: CEX platforms use an order book mechanism where limit orders are executed at the specified price, typically without significant slippage.Matching System: The order book automatically matches buy and sell orders based on market conditions, enabling instant transactions. DEX Automated Market Maker (AMM) ModelPricing Formula: DEX platforms utilize liquidity pools and the "constant product formula" (x * y = k) to dynamically adjust prices.Price Deviation: Large trades can alter the token ratios in the pool, causing the actual execution price to diverge from the expected price, particularly in situations with low liquidity. Main Reasons for Price DeviationSlippage Definition<ul><li style="line-height: 1;">Slippage is the difference between the expected price and the actual execution price of a trade. </li><li style="line-height: 1;">Cause: Each trade changes the ratio of tokens in the liquidity pool, and slippage becomes more noticeable when liquidity is low. </li><li style="line-height: 1;">Controlling Slippage: Traders can manage slippage by setting a tolerance range for slippage and choosing liquidity pools with deeper liquidity.</li></ul> Liquidity Issues Liquidity Depth<ul><li style="line-height: 1;">A deep liquidity pool ensures small price changes during transactions, while insufficient liquidity leads to significant price fluctuations. </li><li style="line-height: 1;">Impact of Large Trades: In an AMM model, large trades shift the token ratio, causing the price curve to change.</li></ul> Gas Fees and Transaction Priority Gas Fees Impact<ul><li style="line-height: 1;">Low gas fees can delay a transaction, especially in volatile markets, potentially leading to price deviation. </li><li style="line-height: 1;">Network Congestion: When the network is congested, transaction execution takes longer, which may cause the final price to differ from the expected price.</li></ul> Ways to Minimize Price DeviationChoose Liquidity-Rich Pools: Ensure that the liquidity pool has enough assets to support the transaction.Set a Slippage Tolerance: Set a reasonable slippage tolerance based on the trade volume to prevent excessive deviation or failed transactions.Prioritize Small Trades: Breaking down large trades into smaller transactions can mitigate the impact of large trades on price.Use Fast Mode: Opt for fast or priority modes during peak trading times to reduce delays that could cause price deviation. Characteristics of the AMM ModelPrice Fluctuation Curve: Price changes follow a curved distribution, with larger trades resulting in more significant price fluctuations.PImpact of Large Trades: Large trades magnify price deviation. It’s recommended to break down larger trades to reduce this effect. ConclusionThe primary reasons for discrepancies between the expected and actual execution prices in limit orders stem from the AMM model's characteristics, insufficient liquidity depth, and issues related to slippage and gas fees. To minimize unnecessary losses, traders should ensure they understand the liquidity status of a pool, set reasonable slippage tolerance, and select appropriate trading modes.

Why the Execution Price of a Limit Order May Differ from the Expected Price

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 When a user opens a position, the user's wallet needs a certain initial margin to open the position. In addition, if the trigger price is lower than the mark price when the user places an order, an "opening loss" will occur. Therefore, users need more margin to avoid liquidation when opening a position. Opening Cost = Initial Margin + Open Loss (If any) Step 1: Calculate the Position Value Position Value = Par Value * Cont / Entry Price Position Value = (1 USD * 10000) / 65000 USD = 0.15384615 BTC Step 2: Calculate the Initial Margin ( 10X Leverage) Initial Margin = 0.15384615 BTC / 10 =0.01538462 BTC Step 3: Calculate the Open Loss Open Loss = Absolute Value {Minimum [0, Number of Orders x Contract Multiplier x (1 / Order Price - 1 / Mark Price)]} Open Loss for Long Positions: = Absolute Value {Minimum [0.10000 x 1x (1 / 65,000 USD - 1 / 64,802 USD)]} = 0.00047007BTC Open Loss for Short Positions: = Absolute Value {Minimum [0.10000 x 1x (1 / 64,802 USD - 1 / 65,000 USD)]} = 0 Step 4: Calculate Opening Cost Since there is an opening loss on the long position, the opening cost of the long position requires an additional opening loss in addition to the initial margin in order to avoid liquidation when opening the position. Long Position Opening Cost: 0.01538462 BTC + 0.0004700 BTC = 0.01585462 BTC (difference due to rounding off) The short order is open without an opening loss, so the opening cost of the short order is the initial margin. Short Position Opening Cost: 0.01538462 BTC + 0 = 0.01538462 BTC
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Opening Cost Calculation

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 Trading indicators are based on past market prices and asset trading volumes to predict price trends. You can use some common technical analysis indicators as a reference for investment. Use indicators to judge market trends or understand any movements in the market that may affect prices. You can choose the technical indicators that you want to display in the chart on the BYDFi product page. The following will briefly introduce you to several common indicators, including MACD, RSI, and Bollinger Bands.
 
 MACD<img src="https://uploads.bydfi.in/events/cms1736162403157nQaR55WOZsDn.png" alt="image.png" data-href="" style="width: 100%;">Moving Average Convergence Divergence (MACD) When the MACD slopes up and crosses the signal line, it is called a "bullish crossover" and is generally interpreted as a good time to buy. When the MACD slopes down and crosses the signal line and falls below the line, it is called a "bearish crossover" and is generally interpreted as a good time to sell.
 
 RSI<img src="https://uploads.bydfi.in/events/cms1736162403195Bypvyp9RlQSe.png" alt="image.png" data-href="" style="width: 100%;">Relative Strength Index (RSI) The RSI indicator presents the "ratio of buying and selling forces for a period of time", and evaluates whether the forces are relatively balanced or disparate. Through the recent changes in the market's ups and downs, we can measure the relative strength of buying and selling in the recent period of time. When the selling force is strong, it is expected that the price will fall more; if the buying force is strong, the price is expected to rise relatively more. In the use of indicators, 50% is often used as the watershed. If the RSI is greater than 50%, it means that the strength of the multi-party index was relatively strong during the period, and the market outlook is expected to be bullish. Conversely, if the RSI is less than 50%, it means that the short side was stronger during the period, and there will be greater downward pressure in the future. In addition, if the RSI is higher than 80% or lower than 20% (70% and 30% can also be used), it means that the relative proportion of rising or falling during the period is too high, and the price may retreat or rebound. The usual setting is 14 days, but you can make other adjustments in the settings.
 
 Bollinger Bands<img src="https://uploads.bydfi.in/events/cms1736162403227daKQc6jU4nqv.png" alt="image.png" data-href="" style="width: 100%;">It is composed of the concepts of mean and standard deviation and divided into 3 lines: the middle line (moving average), plus two upper and lower standard deviations. It is generally believed that if the price is out of the upper and lower ranges, a price reversal may occur. Disclaimer: Cryptocurrency assets are volatile products and high-risk investments. Significant price fluctuations may cause your holdings to increase or decrease in value significantly at any time. Therefore, before deciding to trade, please assess the risks involved based on your financial resources and experience. BYDFi does not recommend that you buy, sell, or hold any cryptocurrency. Please do your research and consult with your financial advisor before making any investment decisions.
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Common Trading Indicators

<img src="https://uploads.bydfi.in/events/cms/BYD.1744337915700.image.png" alt="BYD.1744337915700.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744337915700.image.png" style="width: 100%;"/>In crypto trading, margin modes play a critical role in determining how funds are managed within a trading account. Two of the most common margin modes are Isolated-Margin and Cross-Margin Mode. Choosing the right margin mode can significantly impact your trading strategy and risk management. BYDFi supports two margin modes: isolated-margin mode and cross-margin mode. What Is Isolated-Margin Mode?In Isolated Margin Mode, the margin allocated to a specific position is isolated from the rest of the account balance. If the position incurs losses and approaches liquidation, only the funds allocated to that position are at risk. Key Features:<ul><li>Risk Limitation: Losses are confined to the isolated margin for that position, preventing further loss of funds in the account.</li><li>Manual Adjustment: Traders can add or remove margin manually to manage liquidation risks.</li><li>Ideal for New Traders: Offers controlled risk and is suitable for traders wanting to test strategies without exposing their entire account.</li></ul>Example: FIBO opens a 10,000 BTCUSD position at 20,000 USD using 10X leverage. The initial margin for opening the position is 0.5 BTC. Later, FIBO increased the leverage to 20X, and the initial margin (collateral) was re-adjusted from 0.5 BTC to only 0.25 BTC. In the case of a forced liquidation, FIBO will lose only 0.25 BTC of the initial margin (excluding fees). This allows traders to effectively control their risk. Note: Users can add margin either manually or automatically. After opening a position, users can only reduce the margin that they have manually increased. Reducing leverage is not supported when a position is being held or when there's a trigger order. What Is Cross-Margin Mode?The cross-margin mode is the default margin mode of BYDFi. In Cross Margin Mode, all available funds in your margin account are shared across all open positions. If one position faces losses, the platform will use the remaining balance in the account to prevent liquidation. Key Features:<ul><li>Maximized Resource Utilization: Funds are pooled together, allowing more flexibility in covering losses.</li><li>Higher Liquidation Threshold: Reduced risk of liquidation as the entire account balance acts as a safety net.</li><li>Risk of Wiping Out Account: If losses exceed available funds, the entire account may be liquidated.</li></ul>Example: FIBO opens a position in BTCUSDT. When the BTCUSD position is forced to close, FIBO will lose all his USDT balance, but his BTC balance will not be affected. Comparing Isolated and Cross Margin Modes<table style="width: 100%;"><tbody><tr><td colSpan="1" rowSpan="1" width="auto">Feature</td><td colSpan="1" rowSpan="1" width="auto">Isolated Margin</td><td colSpan="1" rowSpan="1" width="auto">Cross Margin</td></tr><tr><td colSpan="1" rowSpan="1" width="auto">Risk Level</td><td colSpan="1" rowSpan="1" width="auto">Limited to allocated margin</td><td colSpan="1" rowSpan="1" width="auto">Entire account balance at risk</td></tr><tr><td colSpan="1" rowSpan="1" width="auto">Margin Allocation</td><td colSpan="1" rowSpan="1" width="auto">Specific to individual positions</td><td colSpan="1" rowSpan="1" width="auto">Shared across all positions</td></tr><tr><td colSpan="1" rowSpan="1" width="auto">Flexibility</td><td colSpan="1" rowSpan="1" width="auto">Manual adjustment required</td><td colSpan="1" rowSpan="1" width="auto">Automatic resource sharing</td></tr><tr><td colSpan="1" rowSpan="1" width="auto">Use Case</td><td colSpan="1" rowSpan="1" width="auto">For testing strategies or high-risk trades</td><td colSpan="1" rowSpan="1" width="auto">For experienced traders or hedging</td></tr></tbody></table>Choosing the right margin model depends on your trading objectives and risk tolerance. Isolated-margin &nbsp;mode offers limited risk and greater control, while Cross-margin mode provides flexibility and maximizes capital utilization. You can choose the most suitable margin model for your needs and realize a more efficient and safer trading experience.

Isolated/Cross Margin Mode

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 Effectively managing position risk is a key component of successful trading. By adopting risk management strategies and understanding fundamental principles, traders can safeguard their capital and minimize potential losses. Position risk is the exposure to potential losses when the market moves unfavorably against a trade. It is influenced by factors such as: Position Size: Larger positions carry higher risks. Leverage: Higher leverage increases both risks and rewards. Market Volatility: Rapid price changes can significantly impact positions. To better control position risk, we recommend the following strategies: Set Stop-Loss Orders to Limit Potential Losses: A stop-loss order is a tool that automatically closes a position when the price reaches a preset level, helping to cap losses. This essential risk management method ensures that losses remain within acceptable limits. Ensure Position Size Aligns with Risk Tolerance: Position size refers to the amount of capital allocated to a single trade. It should be calculated based on your risk tolerance to ensure no single trade poses a significant threat to your overall account balance. Diversify Investments to Reduce the Risk of Individual Trades: Avoid concentrating capital on a single asset or trade. Diversification spreads risk across multiple assets or markets, reducing the adverse impact of a single position's price movement. Manage Leverage Carefully to Avoid Overexposure: While leverage can magnify returns, it also increases the potential for significant losses. Maintaining reasonable leverage levels, especially in volatile markets, helps mitigate risks. Monitor Market Conditions and Adjust Strategies as Needed: Regularly evaluate market volatility, liquidity, and upcoming news or events. These factors can significantly influence asset prices and market behavior, affecting position risk. If you have an open position, the position page provides the option to add margin. This can lower leverage and adjust the liquidation price accordingly. Adding Margin for Perpetual Contracts: PC <img src="https://uploads.bydfi.in/events/cmsBYD.1735569807334.Risk1.png" alt="BYD.1735569807334.Risk1.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735569807334.Risk1.png" style="width: 100%;"> APP <img src="https://uploads.bydfi.in/events/cmsBYD.1735569819236.Risk2.png" alt="BYD.1735569819236.Risk2.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735569819236.Risk2.png" style="width: 50%;">
 <img src="https://uploads.bydfi.in/events/cmsBYD.1735569836663.Risk3.png" alt="BYD.1735569836663.Risk3.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735569836663.Risk3.png" style="width: 50%;"> For details about the Auto Add Margin feature, please refer to: <a href="https://www.bydfi.com/server/en/support/PRODUCT_DESCRIPTION/articles/d8kgvj5o2ynk" target="_blank">Automatically Add Margin to Order</a> Modify Stop-Loss Price On the perpetual contracts page, you can click to modify the stop-loss price. By default, the stop-loss ratio is set to 100%. PC <img src="https://uploads.bydfi.in/events/cmsBYD.1735569848726.Risk4.png" alt="BYD.1735569848726.Risk4.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735569848726.Risk4.png" style="width: 100%;"> APP
 <img src="https://uploads.bydfi.in/events/cmsBYD.1735569859628.Risk5.png" alt="BYD.1735569859628.Risk5.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735569859628.Risk5.png" style="width: 50%;">
 <img src="https://uploads.bydfi.in/events/cmsBYD.1735569878459.Risk6.png" alt="BYD.1735569878459.Risk6.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735569878459.Risk6.png" style="width: 50%;"><img src="/guide-media/01JDH5E1YEF5FFAPSN7XRDMER2" alt="" data-href="" style=""> For details about stop-loss triggers, please refer to: <a href="https://www.bydfi.com/server/en/support/PRODUCT_DESCRIPTION/articles/gtzisowhugy1" target="_blank">What is the Difference Between the Marked Price and the Last Price Trigger?</a> Note: The information provided above does not constitute investment advice. Please evaluate your decisions carefully before taking action.
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How to Control Position Risk

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 In the world of trading, understanding the different order types is essential for executing strategies effectively. Among these order types, GTC, IOC, and FOK orders play crucial roles, particularly in fast-paced markets like cryptocurrency trading. GTC (Good-Til-Canceled) Order A GTC order is an order to buy or sell a security that remains active until the trader decides to cancel it. Unlike other orders that expire at the end of a trading day, a GTC order continues to stay on the order book, allowing traders to take advantage of market opportunities over time. Key Features:
 <ul>
 <li>Remains active until manually canceled or fulfilled.</li>
 <li>Ideal for long-term traders aiming to execute trades at specific price levels.</li>
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 Example: FIBO places a GTC buy order for Bitcoin at $60,000. The order will stay active until the price reaches $60,000, the order is filled, or the trader cancels it. IOC (Immediate-Or-Cancel) Order An IOC order requires that all or part of the order is executed immediately. Any portion of the order that cannot be executed immediately is canceled.
 Key Features:
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 <li>Prioritizes speed and execution over complete fulfillment.</li>
 <li>Suitable for traders seeking immediate partial execution in volatile markets.</li>
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 Example: FIBO places an IOC sell order for 1 ETH at $2,800. If only 0.5 ETH can be sold at that price immediately, the remaining 0.5 ETH of the order will be canceled. FOK (Fill-Or-Kill) Order A FOK order demands that the entire order be executed immediately and in full. If this is not possible, the order is canceled outright. FOK orders are commonly used when traders want to secure specific prices for large quantities without partial fills.
 Key Features:
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 <li>No partial execution; it's all or nothing.</li>
 <li>Preferred by traders handling large-volume trades to avoid slippage.</li>
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 Example: FIBO places an FOK buy order for 1BTC at $60,000. If 1 BTC cannot be purchased at that price instantly, the entire order is canceled. How to Choose the Right Order Type? The choice between GTC, IOC, and FOK orders depends on your trading strategy and objectives:
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 <li>GTC Orders: Use for setting long-term price targets.</li>
 <li>IOC Orders: Use when immediate execution is essential, even if only partially filled.</li>
 <li>FOK Orders: Use for large trades where full execution at a specific price is critical.</li>
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 Understanding GTC, IOC, and FOK orders empowers traders to execute trades more effectively and align them with their goals. By choosing the right order type, you can manage risks, optimize strategies, and make the most of trading opportunities in any market. Note: GTC/IOC/FOK orders are only available in Perpetual Contract (USDT-M) and Inverse Perpetual Contract (COIN-M).
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What Is GTC/IOC/FOK Order?

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 <img src="https://uploads.bydfi.in/events/cms17361624017417iR5h2OpfoFi.png" alt="image.png" data-href="" style="width: 100%;">When trading contracts on BYDFi, orders may be canceled or fail to be executed. Below are the common types of order cancellations and their reasons:
 
 <h3>1. User Manually Canceled the Order</h3>
 Reason: The order is canceled by the user.
 Scenario: When a user places a limit or conditional order, they may manually cancel it before the expected trigger price is reached. For example, User A predicts that the price of BTC will continue to fall and places a limit buy order at $60,000. However, after waiting for a long time without reaching the preset price, the user cancels the order to free up funds and improve trading efficiency.
 
 <h3>2. Unfulfilled Portions of IOC Orders Are Automatically Canceled</h3>
 Reason: The unfulfilled portions of the IOC order are automatically canceled.
 Scenario: IOC (Immediate or Cancel) orders will be executed immediately, either fully or partially, at the existing price and quantity. If only partially executed, the unfulfilled portion of the order will be canceled. If there is no available quantity at the chosen price when you place the order, the order will be canceled immediately.
 
 <h3>3. PostOnly Order Conditions Not Met, Resulting in Cancellation (Will Release Soon)</h3>
 Reason: PostOnly order conditions were not successfully triggered, resulting in cancellation.
 Scenario: This situation occurs when a user places a limit order and selects the "PostOnly" option. Such orders do not immediately execute in the market; they exist as Maker orders in the order book but do not match with existing orders. When executing an order as a Maker, the user only pays the Maker fee and does not incur the Taker fee. If the order is executed immediately upon placing it, the PostOnly order will be automatically canceled. For example, if a user places a buy order at a price higher than the market price, the system will automatically cancel the PostOnly order at the time of placement.
 
 <h3>4. Market Order Has No Matching Counterparty Order</h3>
 Reason: Market order has no matching counterparty order. Scenario: When a user selects a "market" order type, it is possible that due to extreme market volatility, there are no matching orders in the current order book to execute the trade. As a result, the original "market" order will be canceled.
 
 <h3>5. Position Taken Over by Liquidation Engine</h3>
 Reason: All current orders for the contract will be canceled after the position is taken over for liquidation. Scenario: When the margin of a position cannot meet the maintenance margin requirement, the position will be taken over by the liquidation engine and forcibly liquidated. At the same time, all current orders for the position will be automatically canceled, including take profit/stop loss orders, limit orders, etc.
 
 <h3>6. If There Is No Open Position, the Close Order Will Be Canceled</h3>
 Reason: The close order will be canceled when there is no open position. Scenario: If a user places a close order and the original open position is liquidated, the close order will be automatically canceled.
 
 <h3>7. Batch Cancellation of Take Profit and Stop Loss Orders During Forced Liquidation</h3>
 Reason: Batch cancellation of take profit and stop loss orders during forced liquidation. Scenario: After a position is forcibly liquidated, take profit and stop loss orders will be canceled.
 
 <h3>8. No Matching Counterparty Order Within Price Protection Range</h3>
 Reason: No matching counterparty order within the 5% price protection range Scenario: BYDFi contracts have a 5% price protection mechanism, meaning that the price of buy orders cannot exceed the price = mark price + mark price x 5%, and the price of sell orders cannot exceed the price = mark price - mark price x 5%. If the order price exceeds this range, the order will be canceled. This mechanism effectively reduces position risk in a complex market environment. 
 
 <h3>9. Conditional Order Canceled Due to Insufficient Margin</h3>
 Reason: When a conditional order is triggered and generates an active order, it will be automatically canceled if there is insufficient order margin. Scenario: A "conditional" order can help set take profit/stop loss. When the market price reaches the specified trigger price, the order will be activated and enter the market as a limit order or a market order. It should be noted that if the available balance in the user's contract account is insufficient to cover the position margin when the conditional order is triggered, the conditional order will be canceled by the system. 
 
 <h3>10. Unfulfilled Orders Canceled When Reducing Position with Insufficient Execution Quantity</h3>
 Reason: When reducing a position, if the final executed position quantity is insufficient, the remaining unfulfilled orders will be canceled. Scenario: When holding a position, if a user places a reduction order but the final executed position quantity is insufficient, the remaining unfulfilled orders will be canceled. For example, if User A currently holds 5 long positions and places an order to reduce 3 short positions, but later closes 4 positions, leaving 1 long positions remaining, the original order to reduce 3 short positions will be canceled.
 
 <h3>11. Order Cancellation Triggered by Zero Position Quantity or Direction Change</h3>
 Reason: Order cancellation is triggered when the position quantity becomes zero or the position direction changes. Scenario: This means that if the current position is closed or the user submits a reduction order for the contract that exceeds the current position quantity, causing the position direction to reverse, the active take profit/stop loss orders or the take profit/stop loss orders on the position will be canceled.
 
 <h3>12. Order Cancellation Due to Discrepancy Detected by Matching Engine</h3>
 Reason: The matching engine detects a discrepancy between zero frozen orders and position quantity, resulting in order cancellation. Scenario: A trader holds a long position of 20 contracts and places a reverse order to sell 25 contracts. The matching engine, upon receiving the reverse order, checks for consistency between the zero frozen orders and the current position quantity. Meanwhile, the trader executes another trade that closes 15 of the original 20 long contracts. The matching engine detects a discrepancy as the position quantity has changed. Since the number of zero frozen orders (20) no longer matches the remaining position quantity (5), the matching engine cancels the portion of the reverse order that exceeds the updated position quantity, resulting in an automatic cancellation of 15 contracts from the reverse order.
 
 <h3>13. FOK Order Not Filled and Automatically Canceled</h3>
 Reason: FOK order was not immediately filled and was automatically canceled.
 Scenario: A trader places a Fill-or-Kill (FOK) order to buy 10 BTC at a specific price. The FOK order requires that the entire order quantity be filled immediately; otherwise, it will be canceled. Upon submission, the market does not have enough BTC available at the specified price to fulfill the entire order. As a result, the FOK order is not immediately filled and is automatically canceled by the system.
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Why Was My Order Canceled?

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 To avoid forced liquidation, BYDFi automatically adds a margin. If you enable automatic margin and the position is triggered to be forced to downshift, the system will add margin from your account for you to avoid forced liquidation.
 
 How to enable automatically add margin? You can open it in the <a href="https://www.bydfi.com/en/swap/btc-usdt" target="_blank">perpetual contract</a> position module<img src="https://uploads.bydfi.in/events/cmsBYD.1735564447402.image.png" alt="BYD.1735564447402.image.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735564447402.image.png" style="width: 100%;">
 The amount of automatically add margin:
 
 The automatically added margin equals the initial margin. If your current account balance is less than the initial margin, BYDFi will credit your account with the remaining sum.
 
 Note: If the leverage has reached the minimum, even if the account still has an available balance, the system still cannot automatically add margin for you. The balance of automatic margin call refers only to the balance of the perpetual contract account and cannot be used across BYDFi's other fund accounts (such as spot and affiliate accounts). Users are advised to ensure that the balance of the perpetual account is sufficient.
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Automatically Add Margin to Order

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 The reason why a position is liquidated despite setting a stop-loss order might be due to differences in the trigger price.
 Forced liquidation is triggered when the margin ratio of a position reaches 100%. Users can set TP/SL orders to be executed based on either the <a href="https://www.bydfi.com/server/en/support/PRODUCT_DESCRIPTION/articles/fohsab3raa6f" target="">latest price</a> or the <a href="https://www.bydfi.com/server/en/support/PRODUCT_DESCRIPTION/articles/kwghxoslyf14" target="">mark price</a>.
 
 In the chart, the flag icon represents the mark price.
 <img src="https://uploads.bydfi.in/events/cms1736162477465Cw3uhoiiuIBX.png" alt="image.png" data-href="" style="width: 50%;">
 On the TP/SL settings page, users can adjust whether orders are triggered by the latest price or the mark price.<img src="/guide-media/01JBV88RY61MGNG81J4SX87N0Q" alt="" data-href="" style="">
 <img src="https://uploads.bydfi.in/events/cms1736162477496c6lwqICMuTmJ.png" alt="image.png" data-href="" style="width: 50%;">
 
 Therefore, if a user sets a SL order, it is possible for the position to be liquidated first when the margin ratio reaches 100%. This will cancel the user's TP/SL orders. For details on the reason for cancellation, please refer to <a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/mstolr0em3cy" target="">The Process of Forced Liquidation.</a>
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Set a Stop-Loss but Got Liquidated?

<h3>What is the purpose of the Perpetual Contracts Sub-Wallet?</h3>Perpetual sub-wallets are available on BYDFi for users who want to use different trading strategies, such as holding isolated and cross margin positions at the same time. Users can split the sub-wallet into different wallets for use within their sustainability account. <h3>How to Operate Sub-Wallets for Perpetual Contracts</h3>In addition to the original sustainable wallet, users can create up to two sub-wallets. You can create a new sub-wallet by switching to Perpetual Contracts on the Assets page(Sub-wallets can also be created on the Perpetual Contracts trading page)<img src="https://uploads.bydfi.in/events/cmsBYD.1735557317707.Sub-Wallet1.png" alt="BYD.1735557317707.Sub-Wallet1.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735557317707.Sub-Wallet1.png" style="width: 50%;"/>Sub-wallet names can only be in English or numeric and within 16 codes<img src="https://uploads.bydfi.in/events/cmsBYD.1735557331732.Sub-Wallet2.jpg" alt="BYD.1735557331732.Sub-Wallet2.jpg" data-href="https://uploads.bydfi.in/events/cmsBYD.1735557331732.Sub-Wallet2.jpg" style="width: 50%;"/><img src="/guide-media/01JBB0DQ45VM59RM7Q5SHSCR51" alt="" data-href="" style=""/>On the trading page you can switch the sub-wallets you want to trade<img src="https://uploads.bydfi.in/events/cmsBYD.1735557349604.Sub-Wallet3.png" alt="BYD.1735557349604.Sub-Wallet3.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735557349604.Sub-Wallet3.png" style="width: 50%;"/><img src="https://uploads.bydfi.in/events/cmsBYD.1735557375781.Sub-Wallet4.jpg" alt="BYD.1735557375781.Sub-Wallet4.jpg" data-href="https://uploads.bydfi.in/events/cmsBYD.1735557375781.Sub-Wallet4.jpg" style="width: 50%;"/> Manage your cross-wallet Perpetual contract ordersClick to view all positions, and if you select "Close All", the closed order will include all sub-wallets positions.By clicking on the position's expand symbol, you can view the order details, including liquidation information, sub-wallets used for the position, margin, etc.<img src="https://uploads.bydfi.in/events/cmsBYD.1735557398213.Sub-Wallet5.jpg" alt="BYD.1735557398213.Sub-Wallet5.jpg" data-href="https://uploads.bydfi.in/events/cmsBYD.1735557398213.Sub-Wallet5.jpg" style="width: 50%;"/> About Bonus and CouponThe bonus cannot be transferred and can only be used in the system default account;Transfers within the Perpetual Contracts sub-wallet will not cause the bonus to expire, but transfers to other funding accounts (spot account) do;

What Is a Perpetual Contract Sub-Wallet?

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 Understanding the Order Book is crucial for traders who want to analyze market dynamics and make informed trading decisions. The Order Book provides a visual representation of current buy and sell orders for a particular trading pair, offering insights into market depth, liquidity, and potential price movements. What Is an Order Book? An Order Book is a real-time ledger that displays all buy and sell orders for a trading pair on a platform. It provides traders with critical information, including the number of assets available for purchase or sale at various price levels. What is market depth? Simply put: The depth of the market consists of orders, also known as order books. Market depth indicates the state of supply and demand for an asset, it shows the amount of pending orders at different price levels. Generally, multiple orders in an order book indicate higher liquidity in the market, while fewer orders indicate lower liquidity. If the number of buy orders far exceeds the number of sell orders, this may indicate an upward trend in the price of the asset. By looking at orders, traders can get a clearer picture of market liquidity, price support and resistance points, and thus make more strategic trading decisions. You can view the order book on the <a href="https://www.bydfi.com/en/swap/btc-usdt" target="_blank">trading page</a>, green for buy orders and red for sell orders. The price in the center is the latest price of 1.3897 and the flags are <a href="https://www.bydfi.com/server/en/support/PRODUCT_DESCRIPTION/articles/kwghxoslyf14" target="_blank">mark prices.</a>
 <img src="https://uploads.bydfi.in/events/cmsBYD.1735569614831.Depth%201.png" alt="BYD.1735569614831.Depth 1.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735569614831.Depth 1.png" style="width: 50%;">
 Therefore, we can use the size of the order to determine how active the trading is at the moment. If the spread between the orders is small (1.3897 and 1.3896 in the chart), it is usually possible for the order to be filled at a similar price even if it is not filled at the particular price. Since orders can be canceled at any time, the market is only one of the tools used to assist in this judgment. Disclaimer: Cryptocurrency assets are volatile products and are high risk investments. Substantial price fluctuations may cause the value of your holdings to increase or decrease significantly at any time. Therefore, before deciding to trade, please evaluate the risks involved based on your financial strength and experience. Your actual returns and losses will depend on a number of factors including, but not limited to, market behavior, market trends and the size of your trade. None of the information provided in this post constitutes investment advice and BYDFi does not recommend that you buy, sell or hold any cryptocurrency. Please do proper research and consult your financial advisor before making any investment decision.
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Observe Market Depth Through Order Book

<h3>Introduction to Risk Limit on BYDFi</h3>The risk limit system on BYDFi plays a crucial role in managing risk and helping traders avoid excessive exposure to market volatility. This system automatically adjusts based on the trader's position size and leverage, ensuring a balanced and safer trading environment. The risk limit reduces the maximum allowable leverage as the value of a trader's position increases. In simpler terms, as traders take on larger positions, the initial margin requirement gradually increases, offering a protective measure against potential losses, particularly in volatile market conditions. <h3>How It Works</h3>Each trading pair on BYDFi has its own specific margin requirements. The risk limit system adjusts these requirements based on the trader's position size. As the position value rises, the initial margin and maintenance margin requirements are adjusted accordingly. This ensures that traders operate within a defined risk profile and prevents them from over-leveraging their positions.If a trader's position value increases, the system will automatically recalculate the risk limit based on the size of the position and any active orders. If no active positions or orders are held, the risk limit will default to the lowest tier. <h3>Risk Limit Enforcement</h3>To prevent excessive market risk concentration and manipulation, BYDFi has set limits on the position size for each individual user. Any open orders that exceed the limit will be rejected. Additionally, we strictly prohibit users from circumventing the position limits in any way (such as using multiple accounts, concealing identities, third-party trading, or exploiting system vulnerabilities) to ensure market fairness. <h3>How to View Risk Limit Information</h3>To view the risk limit information for all trading pairs, click on this icon on the perpetual contract trading page, and then select '<a href="https://www.bydfi.com/en/swap-info?page=5&type=usdt" target="_blank">Risk Limit</a>.'<img src="https://uploads.bydfi.in/events/cmsBYD.1742280551710.image.png" alt="BYD.1742280551710.image.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1742280551710.image.png" style="width: 100%;"/>Select the trading pair you would like to view, and you can see the complete risk limit information. <img src="https://uploads.bydfi.in/events/cmsBYD.1742283104703.perpetual.png" alt="BYD.1742283104703.perpetual.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1742283104703.perpetual.png" style="width: 100%;"/> <h3></h3><h3>Risk Parameter Adjustment</h3>BYDFi regularly evaluates market liquidity to ensure stable trading conditions. In the event of significant market fluctuations, the risk limit may be adjusted, affecting the following key risk parameters:<ul><li>Initial Margin Rate (IMR)</li><li>Maintenance Margin Rate (MMR)</li><li>Maximum Leverage Allowed</li><li>Position Value Limit</li><li>MMQC</li></ul><h3></h3> <h3>Disclaimer</h3>BYDFi reserves the right to adjust the risk limit and associated risk parameters (including Initial Margin Rate, Maintenance Margin Rate, Maximum Leverage Allowed, Position Limit, and MMQC) in response to changes in market conditions. These adjustments are part of our ongoing effort to maintain a secure and stable trading environment.Users are encouraged to regularly monitor official announcements from BYDFi regarding any changes to the risk parameters. It is the responsibility of the user to stay informed of these updates. BYDFi will not be held liable for any losses or discrepancies arising from users' failure to review such announcements or take appropriate action based on these changes.During the adjustment process, BYDFi's system will perform a risk assessment of your account. If the post-adjustment risk is deemed to be low, the new parameters will be automatically applied, which may result in changes to margin requirements and other associated risks. Please trade responsibly and ensure that you understand the implications of these adjustments.

Risk Limit (USDT-M and COIN-M Contracts)

<img src="https://uploads.bydfi.in/events/cms/BYD.1744272793190.image.png" alt="BYD.1744272793190.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744272793190.image.png" style="width: 100%;"/>The "funding rate" is used to narrow the price difference adjustment mechanism between the perpetual contract and the corresponding spot market, which is a unique function of the perpetual contract market. Its calculation is related to the value of the position, and it will affect the profit and loss of the position and even the liquidation price. Funding Fee Settlement Mechanism The perpetual contract uses "funding fees" to anchor the contract price to the spot price. Unlike delivery contracts, perpetual contracts do not require delivery, and users can hold them for a long time. But if there is no delivery, a mechanism is needed to ensure that the contract price and the spot price tend to be consistent. This is what we call "funding fees." The funding fee is paid between long/short parties, and the positive/negative funding rate determines which party needs to pay. The funding fee is completely settled between users, and the platform does not charge any fees for it. When the funding rate is positive, long users will pay funding fees and short users will get funding fees. The Effect of Funding Fees on Position P&L and Forced Liquidation The settlement of the funding fee may indirectly affect the profit and loss of the position. When the user needs to pay the funding fee and there is no available balance, the position will suffer a loss, which will be reflected in the reduction of the position margin. Liquidation is triggered when the position margin is reduced below the maintenance margin. It can be seen that the "funding fee" will not directly affect the forced liquidation, but it will affect the position margin. Continuous payment of funding fees may result in the position margin being lower than the maintenance margin, resulting in forced liquidation. Formula: Funding Fee = Position Value * Funding Rate"Position Value" is determined by the mark price at the settlement time of the funding rate. Example of USDT-M ContractTrader B holds a long order of 1 BTCUSDT contracts, and the mark price at the time stamp of the funding fee swap is 20,000 USDT, and the current funding rate is -0.01%. Par Value =100USD/Cont First, calculate the position value:Position Value = Par Value * Contract Quantity * Mark PricePosition Value = 100*1*20,000 = 2,000,000USDT Then calculate the BTCUSDT funding fee:Funding Fee = Position Value * Funding RateFunding fee = 2,000,000 USDT * 0.01% = 200 USDTSince the funding rate is negative (-0.01%), short positions will pay funding fees to long positions. So, Trader B will receive 200 USDT of funding fees, and multiple parties holding the same number of contracts in short positions will be charged 200 USDT of funding fees. How to Manage Position Risk? The settlement of the funding fee is linked to and positively correlated with the position value. The greater the value of the position, the more funding fees will be paid or obtained. If the position is large, it is recommended that you pay more attention to the impact of the settlement of funding fees on the position. Close the position in advance by avoiding the settlement time of the funding fee. The funding fees of perpetual contracts are settled every 8 hours at 08:00, 16:00, and 00:00 SGT, respectively. Only users who hold positions at the time of settlement need to pay or charge funding fees; if the position has been closed before settlement, no funding fees need to be charged or paid. How Do I Use the Funding Fee Mechanism to Stabilize Arbitrage? In addition to paying funding fees, users may also be able to receive funding fees. We can use it to obtain low-risk and long-term income while also diversifying funds and making profits even in low-volatility markets. In other words, funding rate arbitrage can be realized by opening short orders of perpetual contracts and long orders of Spot at the same time. For specific arbitrage operations, you can refer to this article: <a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/ypovqsnvee0p" target="_blank">How to Hedge with COIN-M Perpetual Contracts</a>

The Impact of Funding Fees on Position P&L

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 For traders, it's important to accurately understand your potential risks and returns in monetary terms. Therefore, BYDFi has introduced the Perpetual Contract Calculator, and we will guide you on how to use the BYDFi Perpetual Contract Calculator.
 
 <h3>How to Use the Perpetual Contract Calculator?</h3>
 
 Enter <a href="https://www.bydfi.com/en/swap/btc-usd" target="_blank">COIN-M</a>/<a href="https://www.bydfi.com/en/swap/btc-usdt" target="_blank">USDT-M</a> contract trading page and click the calculator icon in the upper right corner
 PC<img src="https://uploads.bydfi.in/events/cmsBYD.1735561860450.image.png" alt="BYD.1735561860450.image.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735561860450.image.png" style="width: 100%;">
 APP
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 You can use the calculator to calculate your PNL, Target Price, Liquidation Price, Maximum Open, and Entry Price.
 
 Note: The calculator is for simulation only and does not consider any potential opening losses you may incur. Regarding the opening cost, you can refer to this article: <a href="https://www.bydfi.com/server/en/support/PRODUCT_DESCRIPTION/articles/miducapadf6u" target="_blank">Opening Cost Calculation</a>
 
 <h3>PNL and Target Price</h3>
 PNL and target price can be calculated by traders based on the exit price or ROE%, which makes it convenient for you to set trading strategies.
 
 <h3><a href="https://www.bydfi.com/server/en/support/PRODUCT_DESCRIPTION/articles/mstolr0em3cy" target="_blank">Liquidation Price</a></h3>
 To better manage users' position risk, you can use this calculator to manage your orders before opening positions or before the system notifies you of liquidation, thus avoiding large losses caused by liquidation.
 
 <h3>Entry Price</h3>
 If you hold multiple positions simultaneously, the BYDFi system calculator can calculate the opening average price for you.
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How to Use the Perpetual Contract Calculator

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 <img src="https://uploads.bydfi.in/events/cmsBYD.1735570807776.Forced1.jpg" alt="BYD.1735570807776.Forced1.jpg" data-href="https://uploads.bydfi.in/events/cmsBYD.1735570807776.Forced1.jpg" style="width: 100%;">
 Forced liquidation occurs when your margin level drops below the required threshold, causing your position to close automatically to prevent further losses. To remain on the safe side, traders must have a plan in place with planned exits before entering any trade. Here are some strategies to reduce the risk:
 <ul>
 <li>Setting a Stop Loss A stop-loss order allows you to set a predetermined exit price, automatically closing your position when the market reaches that level. This limits your losses and prevents your entire margin from being wiped out. Combining a stop-loss with a forced liquidation calculator can protect your account from significant losses and liquidation fees.</li>
 <li>Reducing Leverage Using high leverage can amplify both gains and losses. Even small price movements can result in significant losses when using high leverage. Reducing leverage lowers your exposure and gives you more room to navigate market volatility without reaching the liquidation threshold quickly.</li>
 <li>Monitoring the Margin Ratio The margin ratio reflects the health of your trading position. When it reaches 100%, liquidation occurs. By regularly monitoring this ratio, you can add more margin to your position or reduce leverage when necessary. This helps you maintain your position over time and avoid forced liquidation as the market fluctuates.</li>
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 By following these steps, you can effectively manage your trading positions and minimize the chances of forced liquidation. Keeping risk management in mind is crucial to long-term success in the volatile world of crypto trading.
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How to Reduce the Risk of Forced Liquidation ?

<img src="https://uploads.bydfi.in/events/cms/BYD.1747037027358.image.png" alt="BYD.1747037027358.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1747037027358.image.png" style="width: 100%;"/>By default, the candle chart on BYDFi displays the historical trend of the platform's latest transaction prices. Since BYDFi employs a margin ratio-based liquidation mechanism, forced liquidation is triggered when the margin ratio reaches 100%. Therefore, the latest transaction price and liquidation price are for reference only. Once the margin ratio reaches 100%, your position will be taken over by the liquidation engine and eventually closed at the bankruptcy price. What Is the Bankruptcy Price?The bankruptcy price is the theoretical price at which a position is closed after being taken over by the liquidation engine when the margin is fully depleted (reaches zero). Thus, the bankruptcy price is not displayed on the chart but is used to calculate the final financial outcome. Any difference between the bankruptcy price and the market's latest price is added to the insurance fund. For details, refer to the article on the forced liquidation process below. SummaryWhen managing your position, focus on the margin ratio instead of solely on the latest transaction price. To avoid forced liquidation, consider adding more margin when necessary to reduce liquidation risk. Related Articles:<a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/mstolr0em3cy" target="_blank">The Process of Forced Liquidation (USDT-M)</a><a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/qv2a04edzk3i" target="_blank">The Process of Forced Liquidation (COIN-M)</a><a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/f5tskl421ho6" target="_blank">Liquidation Price Calculation (USDT-M)</a><a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/qzpvgt1ov8xg" target="_blank">Liquidation Price Calculation (COIN-M)</a>

Why Can't I See the Bankruptcy Price on the Chart?

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 <pre><code>USDT M = Minimum order size (= Par Value) * Quantity* Price</code></pre>
 
 How to find the minimum order size (par value)?
 Click ？ on the top right corner of the <a href="https://www.bydfi.com/swap/btc-usdt" target="">contract trading page</a> and click on the second trading rule
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 How to check the trading volume?
 PC: Click Order-Future in the upper right corner to view the total trading volume for the past 3 months on the Trade History page.
 <img src="https://uploads.bydfi.in/events/cmsBYD.1735561040707.Calculate2.png" alt="BYD.1735561040707.Calculate2.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735561040707.Calculate2.png" style="width: 100%;">
 APP: Click on My Volume to view the total volume for the past 30 days.
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 Note: The total volume does not include the volume generated by the bonus trading
 
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How to Calculate Perpetual Contract Trading Volume

In the digital asset market, contract trading has become a preferred choice for many cryptocurrency investors due to its flexible leverage mechanism and the ability to open both long and short positions. Compared to spot trading, contract trading allows traders to amplify potential returns with lower capital investment, making it a highly strategic and challenging endeavor. As a globally leading cryptocurrency trading platform, BYDFi provides a stable trading environment and a variety of auxiliary features to enhance both efficiency and security in contract trading.This article will take the <a href="https://www.bydfi.com/en/swap/btc-usdt" target="_blank">BYDFi web-based contract trading page</a> as an example to comprehensively introduce key auxiliary features, helping you quickly grasp operational techniques and configuration recommendations. <h2>Trading Settings</h2>Upon entering the contract trading page, click the settings icon in the upper right corner to access the settings page. <img src="https://uploads.bydfi.in/events/cms/BYD.1743432349302.image.png" alt="BYD.1743432349302.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1743432349302.image.png" style="width: 100%;"/>You can personalize your trading mode and order placement preferences, which include:<ul><li>Position Mode: Supports both hedge mode and one-way mode. Hedge mode allows holding both long and short positions simultaneously for flexible strategy adjustments.</li><li>Price Protection: Prevents adverse price execution due to market volatility, enhancing risk management.</li><li>Flash Order: Enables instant market orders directly from the candlestick chart, allowing for rapid position opening and closing.</li><li>Order Confirmation: Provides clear prompts before placing an order, reducing the risk of misoperation.</li></ul><img src="https://uploads.bydfi.in/events/cms/BYD.1743432396323.image.png" alt="BYD.1743432396323.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1743432396323.image.png" style="width: 50%;"/><h3></h3><h2>Notification Settings</h2>In a highly volatile market, staying informed about position changes and market movements is crucial. BYDFi offers multiple smart notification options, including:<ul><li>Liquidation Alerts: Triggers a warning notification when the margin ratio falls below a preset threshold (up to once every 30 minutes per position).</li><li>Funding Fee Notice: Sends email and in-platform notifications if the funding rate exceeds the user-defined threshold.</li><li>Triggered Orders & Stop-Loss/Take-Profit Trigger Notification: Notifies users of order execution success or failure in real-time (up to 20 times daily).</li></ul>These notification mechanisms apply to both USDT-M and COIN-M contracts, ensuring you never miss any critical trade updates.<img src="https://uploads.bydfi.in/events/cms/BYD.1743432853937.image.png" alt="BYD.1743432853937.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1743432853937.image.png" style="width: 50%;"/><h3></h3><h2>Trading Alerts & Price Notifications</h2>BYDFi supports trading alerts that provide real-time feedback through pop-ups and sound notifications when key events occur, such as order execution, order cancellation, or forced liquidation.Additionally, you can enable 'Price Notifications' in the upper right corner of the trading page:<ul><li>Custom Alert Conditions: Set alerts based on trading pairs, price fluctuations, alert frequency, and notification methods.</li><li>Alert List Management: Easily enable, disable, or batch delete alerts as needed.</li></ul> <h2>Quick Trading via Candlestick Chart</h2>The BYDFi contract trading page supports quick operations directly from the candlestick chart, including:• Creating, modifying, and canceling limit orders<img src="https://uploads.bydfi.in/events/cms/BYD.1743433282006.image.png" alt="BYD.1743433282006.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1743433282006.image.png" style="width: 100%;"/>• One-click market close for open positions<img src="https://uploads.bydfi.in/events/cms/BYD.1743433350234.image.png" alt="BYD.1743433350234.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1743433350234.image.png" style="width: 100%;"/>• Directly setting take-profit and stop-loss levels<img src="https://uploads.bydfi.in/events/cms/BYD.1743433403788.image.png" alt="BYD.1743433403788.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1743433403788.image.png" style="width: 100%;"/>This intuitive chart-based trading significantly improves order execution and position adjustment efficiency. We recommend utilizing the platform's educational resources to master these features. <h2>Other Auxiliary Tools</h2><h3>Drawing Tools</h3>Traders can draw trend lines, support, and resistance levels directly on the candlestick chart for technical analysis.<img src="https://uploads.bydfi.in/events/cms/BYD.1743433647863.image.png" alt="BYD.1743433647863.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1743433647863.image.png" style="width: 100%;"/><h3>Snapshot Sharing</h3>After completing your chart analysis, generate a technical analysis snapshot for easy sharing on social media. Additionally, users can share historical profit and loss records to showcase their trading performance.<img src="https://uploads.bydfi.in/events/cms/BYD.1743433701765.image.png" alt="BYD.1743433701765.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1743433701765.image.png" style=""/> <h2>Why Choose BYDFi for Contract Trading?</h2>BYDFi offers the following key advantages:<ul><li>Up to 200x leverage, allowing flexible risk and reward management</li><li>Seamless trading experience with a stable and low-latency system</li><li>Support for multiple contract types, catering to diverse trading strategies</li><li>Competitive fees and deep liquidity for efficient order execution</li></ul> <h2>Conclusion</h2>Contract trading requires not only strong execution skills but also solid risk management and auxiliary tools. With BYDFi’s comprehensive set of trading features, you can trade more efficiently and securely in the leveraged market. Log in to <a href="https://www.bydfi.com/" target="_blank">BYDFi</a> now and experience the ultimate trading toolkit for professionals! 📌 Disclaimer: This article is for informational purposes only and does not constitute investment advice. Contract trading carries significant risks—please carefully assess your financial situation and risk tolerance before investing.

All-in-One Guide to BYDFi Contract Trading Settings & Alerts

<img src="https://uploads.bydfi.in/events/cms/BYD.1744282198889.image.png" alt="BYD.1744282198889.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744282198889.image.png" style="width: 100%;"/>Please note that the calculation may include transaction fees, funding fees, and real-time market fluctuations. These two factors could contribute to the situation where users see a profit while holding a position but experience a loss upon closing it. For <a href="https://www.bydfi.com/en/swap/btc-usdt" target="_self">Perpetual Contracts</a>:You can refer to the following table to clearly understand the fees included in the profit and loss displayed during holding and closing positions.The calculation of profit and loss for perpetual contracts can be found in the article "<a href="https://www.bydfi.com/server/en/support/PRODUCT_DESCRIPTION/articles/3bpsehwceoan" target="_self">P&L Calculations (USDT-M)</a>". For COIN-M contracts, please refer to this article: "<a href="https://www.bydfi.com/server/en/support/PRODUCT_DESCRIPTION/articles/8wx07lmaudxp" target="_self">P&L Calculations (COIN-M)</a>"<table style="width: auto;"><tbody><tr><td colSpan="1" rowSpan="1" width="auto"> </td><td colSpan="1" rowSpan="1" width="auto">Calculation of Unrealized P&L</td><td colSpan="1" rowSpan="1" width="auto">Calculation of Realized P&L</td></tr><tr><td colSpan="1" rowSpan="1" width="auto">P&L of the Position</td><td colSpan="1" rowSpan="1" width="auto">Yes</td><td colSpan="1" rowSpan="1" width="auto">Yes</td></tr><tr><td colSpan="1" rowSpan="1" width="auto">Transaction Fees</td><td colSpan="1" rowSpan="1" width="auto">No</td><td colSpan="1" rowSpan="1" width="auto">Yes</td></tr><tr><td colSpan="1" rowSpan="1" width="auto">Funding Fees</td><td colSpan="1" rowSpan="1" width="auto">No</td><td colSpan="1" rowSpan="1" width="auto">Yes</td></tr></tbody></table> In addition to the aforementioned fees that may affect your actual net profit, please be aware that the market is continuously volatile. Closing positions in market order mode cannot guarantee the exact amount of your profits. You can make use of our provided TP/SL settings, as well as <a href="https://www.bydfi.com/server/en/support/PRODUCT_DESCRIPTION/articles/nidiilpqe7bl" target="_blank">stop limit/market orders</a> in perpetual contracts.

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