- Unlike traditional trading (i.e. stock trading), futures trading allows both long and short positions to open. Swap contracts are derivative products of the underlying cryptocurrency. The types of positions: buy to open, sell to open, buy to close, and sell to close.
- Traders can take advantage of these long and short positions for both market directions (up or down).
- Wisebitcoin offers perpetual swap contracts based in USDT as well as coins.
| Products | Fees | |
|---|---|---|
|
BTC-SWAP-USDT BCH-SWAP-USDT ETH-SWAP-USDT EOS-SWAP-USDT LTC-SWAP-USDT XRP-SWAP-USDT |
Maker | 0.02% |
| Taker | 0.07% | |
| Products | Fees | |
|---|---|---|
|
BTC-SWAP BCH-SWAP ETH-SWAP EOS-SWAP LTC-SWAP XRP-SWAP |
Maker | 0.07% |
| Taker | 0.07% | |
Leverage is set for each contract up to 100:1
2X, 5X, 10X, 20X, 50X, 100X leverage levels can be applied by contracts.
| Terms | Description |
|---|---|
| Base Currency |
Base currency of the pair. BTC is the base currency for BTC/USDT contract. |
| Quote Currency |
The currency quoting the base currency. USDT is the quote currency for BTC/USDT contract. |
| Settlement Currency |
1. Currency used for withdrawal 2. Currency used to enter position 3. Currency expressed for realized and unrealized profit/loss. |
| Initial Margin |
Margin requirements for new positions. |
| Maintenance Margin |
Margin requirements for existing positions. |
| Margin Call |
Margin call is triggered when the equity balance falls below minimum margin requirements. |
| Leverage | Leverage is created to take positions more than the balance held in the margin account. |
| Funding rate or rollover |
Funding occurs every 8 hours: You will only pay or receive funding if you hold a position at one of these times. |
| Maker | The party who puts in Order with a set price and quantity. |
| Taker | The party who takes the market price for a trade. |
| Stop order |
Stop orders are used to limit losses with a stop-loss or lock in profits using a bullish stop |
| Limit order |
A limit order guarantees that an order is filled at or better than a specific price level. |
| Underlying | BTC |
|---|---|
| Commissions | 0.07% |
| Base | 0.0001BTC |
| Minimum Change | 0.1 |
| Trading Hours/Days |
24/7 |
| Deposit/Withdrawal Currency |
USDT |
| Leverage | 1:1 ~ 100:1 |
| Funding Rate (Rollover) | UTC 04:00, 12:00, 20:00 settlement (Long/Short ratio applies) |
| Underlying | ETH |
|---|---|
| Commissions | 0.07% |
| Base | 0.001ETH |
| Minimum Change |
0.01 |
| Trading Hours/Days |
24/7 |
| Deposit/Withdrawal Currency |
USDT |
| Leverage | 1:1 ~ 50:1 |
| Funding Rate (Rollover) |
UTC 04:00, 12:00, 20:00 settlement (Long/Short ratio applies) |
| Underlying | EOS |
|---|---|
| Commissions | 0.07% |
| Base | 1EOS |
| Minimum Change | 0.001 |
| Trading Hours/Days |
24/7 |
| Deposit/Withdrawal Currency |
USDT |
| Leverage | 1:1 ~ 50:1 |
| Funding Rate (Rollover) |
UTC 04:00, 12:00, 20:00 settlement (Long/Short ratio applies) |
| Underlying | LTC |
|---|---|
| Commissions | 0.07% |
| Base | 0.01LTC |
| Minimum Change |
0.01 |
| Trading Hours/Days |
24/7 |
| Deposit/Withdrawal Currency |
USDT |
| Leverage | 1:1 ~ 50:1 |
| Funding Rate (Rollover) |
UTC 04:00, 12:00, 20:00 settlement (Long/Short ratio applies) |
| Underlying | BCH |
|---|---|
| Commissions | 0.07% |
| Base | 0.01BCH |
| Minimum Change |
0.01 |
| Trading Hours/Days |
24/7 |
| Deposit/Withdrawal Currency |
USDT |
| Leverage | 1:1 ~ 50:1 |
| Funding Rate (Rollover) |
UTC 04:00, 12:00, 20:00 settlement (Long/Short ratio applies) |
| Underlying | XRP |
|---|---|
| Commissions | 0.07% |
| Base | 1XRP |
| Minimum Change |
0.0001 |
| Trading Hours/Days |
24/7 |
| Deposit/Withdrawal Currency |
USDT |
| Leverage | 1:1 ~ 50:1 |
| Funding Rate (Rollover) |
UTC 04:00, 12:00, 20:00 settlement (Long/Short ratio applies) |
| USDT is used for quote/settlement currency. (Example: BTC/USDT Contract) |
||
|---|---|---|
| Base Currency |
Quote Currency |
Settlement Currency |
| BTC | USDT | USDT |
| Description Formulae |
One Contract : 0.0001BTC | |
| Unit Price : 0.0001BTC*BTC / USDT | ||
| One Contract value is always 0.0001BTC | ||
| 1 Contract Value for BTC changes based on BTC price quoted in USDT | ||
| P&L 1) Long Position = (Latest Price – Average Open Price) * Position Size (Num of Contracts) * Contract Multiplier 2) Short Position = (Average Open Price – Latest Price) * Position Size (Num of Contracts) * Contract Multiplier |
||
| P&L settles in USDT | ||
| Advantage | USDT is coin pegged to USD. Trades done with USDT are more stable and less volatile. This is due to the stability in USD regardless of the base currency coin. |
|
| Underlying | BTC |
|---|---|
| Commissions | 0.07% |
| Base | 1USDT |
| Minimum Change | 0.1 |
| Trading Hours/Days | 24/7 |
| Deposit/Withdrawal Currency | BTC |
| Leverage | 1:1 ~ 100:1 |
| Funding Rate (Rollover) | UTC 04:00, 12:00, 20:00 settlement (Long/Short ratio applies) |
| Underlying | ETH |
|---|---|
| Commissions | 0.07% |
| Base | 1USDT |
| Minimum Change | 0.01 |
| Trading Hours/Days | 24/7 |
| Deposit/Withdrawal Currency | ETH |
| Leverage | 1:1 ~ 50:1 |
| Funding Rate (Rollover) | UTC 04:00, 12:00, 20:00 settlement (Long/Short ratio applies) |
| Underlying | LTC |
|---|---|
| Commissions | 0.07% |
| Base | 1USDT |
| Minimum Change | 0.01 |
| Trading Hours/Days | 24/7 |
| Deposit/Withdrawal Currency | LTC |
| Leverage | 1:1 ~ 50:1 |
| Funding Rate (Rollover) | UTC 04:00, 12:00, 20:00 settlement (Long/Short ratio applies) |
| Underlying | BCH |
|---|---|
| Commissions | 0.07% |
| Base | 1USDT |
| Minimum Change | 0.01 |
| Trading Hours/Days | 24/7 |
| Deposit/Withdrawal Currency | BCH |
| Leverage | 1:1 ~ 50:1 |
| Funding Rate (Rollover) | UTC 04:00, 12:00, 20:00 settlement (Long/Short ratio applies) |
| Trading Hours/Days |
XRP |
|---|---|
| Commissions | 0.07% |
| Base | 1USDT |
| Minimum Change | 0.0001 |
| Trading Hours/Days | 24/7 |
| Deposit/Withdrawal Currency | XRP |
| Leverage | 1:1 ~ 50:1 |
| Funding Rate (Rollover) | UTC 04:00, 12:00, 20:00 settlement (Long/Short ratio applies) |
| Same cryptocurrency is used for base/settlement currency. (Example: BTC/USDT Contract) |
||
|---|---|---|
| Base Currency |
Quote Currency |
Settlement Currency |
| BTC | USDT | BTC |
| Description Formulae |
One Contract : 1 USDT | |
| 1 Contract value is always 1BTC | ||
| One Contract value is always 0.0001BTC | ||
|
P&L 1) Long Position = Position * Contract Multiplier * (1/ Open Price – 1/Latest Price) 2) Short Position = Position * Contract Multiplier * (1/ Latest Price – 1/Open Price) |
||
| P&L settles in BTC | ||
| P&L settles in USDT | ||
| Advantage | BTC is used to calculate P&L as well as the settlement currency. You can profit from BTC’s increase regardless of the base currency. |
|