1. Open bhex.ccand find Contracts
Log in to BHEX website and click on “USDT-Settled Perpetual” to enter the transaction page.
2. Risk Reminder
Maintenance Margin is adopted for contracts products to lower your cost, but may also with liquidation risks. Please be sure to understand how the contract trading works and read the contract trading rules carefully before trading.
Please confirm you have fully understand the contract trading business and be aware of the risks during the trading, click on the below agreement and agree to start the trading。
3. Assets Transfer
USDT Settled Contract supports various currency contracts to use USDT to supplement collateral assets. Users only need to transfer USDT to conduct transactions. USDT-Settled Contract supports transfers from wallet accounts and supports transfer between each type accounts
Transfer from exchange account to USDT- Settled Contract cross margin account
If User A opened USDT- Settled Contract position, and want to trade BTC/USDT swaps in cross margin mode, he/she has to transfer USDT from [exchange account] to [USDT Swaps Account- USDT Cross] first.
Transfer from exchange account to USDT- Settled Contract isolated margin account
If User B opened USDT- Settled Contract position and want to trade ETH/USDT swaps in Isolated margin mode, he/she has to transfer USDT from [exchange account] to [USDT Swaps Account- ETH/USDT] first.
4. How to open a position
After choosing leverage, users can select limit order or traigger to open positions, here take limit order as an example:
Limit order can choose three effective mechanisms,
Good till cancelled (GTC): The order will remain valid until it is fully executed or manually cancelled.
Fill or Kill (FOK): The order must be immediately executed at the order price or better, otherwise, it will be completely cancelled and partially filled contracts will not be allowed.
Immediate or Cancel (IOC): The order must be filled immediately at the order limit price or better. If the order cannot be filled immediately, the unfilled contracts will be cancelled.
Select ETH-perpetual-USDT contract in the upper left corner, where position mode is "cross-margin/isolated margin", unit is "cont", leverage is "10X"
Adjust the "leverage" ratio, input "buy amount", confirm the information and click "buy (long)" or "sell (short)" button, complete the position opening.
5. Check oder status
View order status in “Current Positions”
Average opening price: the average price at which an order is completed
Maintenance Margin: Maintenance margin is the minimum margin to keep the current position opened.
Open Position: The amount currently held in the current contract
Liquidable: The current number of contracts that can be liquidated
Unrealized profit and loss: The profits generated by an open position.
P/E Ratio (Yield): The ratio of current yield to margin
Estimated liquidation price: The underlying index price of this contract, Your position will be liquidated when the contract price is lower (LONG)/higher (Short) than the estimated price.
Margin ratio: A risk indicator for the account, Margin Ratio = (Position Margin + Unrealized PnL)/position value (isolated margin)/account value (cross margin)
6. How to close a position
To close a position, you could use “Limit Order” and “Trigger Order” by choosing limit price, market price or triggered price.
Enter the close price, quantity and click to buy (close Short) or sell (close long).
7. Check PNL
You can check transaction details on Order record including: Contract type, Position opening/closing time, direction, quantality, price, PNL and transaction fee.