1.Overview
The USDT perpetual contract is a digital currency derivative launched by Billance, which is quoted and settled in USDT only, supports long, short and two-direction positions and provides simple multiple leverage options. The USDT Perpetual will not be settled and will keep pace with spot market prices to the highest order based on the funding fee. Using mark price to calculate the unrealized PNL and the liquidation price can avoid frequent, as well, unnecessary liquidations caused by market fluctuations and volatile conditions. This allows for the copying of the spot market specifically under high leverage.
2.Contract Definition
|
Contract |
BTCUSDT Perpetual |
ETHUSDT Perpetual |
EOSUSDT Perpetual |
FILUSDT Perpetual |
|
Type |
Perpetual, linear contract |
Perpetual, linear contract |
Perpetual, linear contract |
Perpetual, linear contract |
|
Identifier |
BTC / USDT |
ETH / USDT |
EOS / USDT |
FIL / USDT |
|
Contract size |
0.001BTC / cont |
0.01ETH / cont |
1EOS / cont |
0.1FIL / cont |
|
Maintenance margin (MM) |
0.5% |
0.5% |
0.5% |
1% |
|
Minimum price change |
0.5 |
0.05 |
0.05 |
0.05 |
|
Minimum contracts |
1cont |
1cont |
1cont |
1cont |
|
Single order limit |
20,000cont |
20,000cont |
100,000cont |
100,000cont |
|
Leverage |
1～100 |
1～100 |
1～100 |
1～50 |
|
Contract |
DOTUSDT Perpetual |
LTCUSDT Perpetual |
XRPUSDT Perpetual |
SOLUSDT Perpetual |
|
Type |
Perpetual, linear contract |
Perpetual, linear contract |
Perpetual, linear contract |
Perpetual, linear contract |
|
Identifier |
DOT / USDT |
LTC / USDT |
XRP / USDT |
SOL / USDT |
|
Contract size |
0.1DOT / cont |
0.1LTC / cont |
1XRP / cont |
0.1SOL / cont |
|
Maintenance margin (MM) |
1% |
1% |
1% |
1% |
|
Minimum price change |
0.001 |
0.01 |
0.00005 |
0.01 |
|
Minimum contracts |
1cont |
1cont |
1cont |
1cont |
|
Single order limit |
10,000cont | 20,000cont |
30,000cont |
30,000cont |
|
Leverage |
1～50 |
1～50 |
1～50 |
1～50 |
|
Contract |
DOGEUSDT Perpetual |
WAVESUSDT Perpetual | FTMUSDT Perpetual |
|
Type |
Perpetual, linear contract | Perpetual, linear contract | Perpetual, linear contract |
|
Identifier |
DOGE / USDT | WAVES / USDT | FTM / USDT |
|
Contract size |
100DOGE / cont | 0.1WAVES / cont | 10FTM / cont |
|
Maintenance margin (MM) |
1% | 1% | 1% |
|
Minimum price change |
0.00001 | 0.001 | 0.0001 |
|
Minimum contracts |
1cont | 1cont | 1cont |
|
Single order limit |
20,000cont | 200,000cont | 40,000cont |
|
Leverage |
1～50 | 1～50 | 1～50 |
|
Contract |
GMTUSDT Perpetual |
NEARUSDT Perpetual | AVAXUSDT Perpetual |
APEUSDT Perpetual |
|
Type |
Perpetual, linear contract | Perpetual, linear contract | Perpetual, linear contract | Perpetual, linear contract |
|
Identifier |
GMT / USDT | NEAR / USDT | AVAX / USDT | APE / USDT |
|
Contract size |
1GMT / cont | 1NEAR / cont | 0.1AVAX / cont | 1APE / cont |
|
Maintenance margin (MM) |
1% | 1% | 1% | 1% |
|
Minimum price change |
0.0001 | 0.001 | 0.001 | 0.001 |
|
Minimum contracts |
1cont | 1cont | 1cont | 1cont |
|
Single order limit |
100,000cont | 30,000cont | 40,000cont | 15,000cont |
|
Leverage |
1～50 | 1～50 | 1～50 | 1～50 |
|
Contract |
ETCUSDT Perpetual |
ADAUSDT Perpetual |
MATICUSDT Perpetual |
ZILUSDT Perpetual |
|
Type |
Perpetual, linear contract | Perpetual, linear contract | Perpetual, linear contract | Perpetual, linear contract |
|
Identifier |
ETC / USDT | ADA / USDT | MATIC / USDT | ZIL / USDT |
|
Contract size |
0.1ETC / cont | 10ADA / cont | 1MATIC / cont | 100ZIL / cont |
|
Maintenance margin (MM) |
1% | 1% | 1% | 1% |
|
Minimum price change |
0.001 | 0.0001 | 0.0001 | 0.00001 |
|
Minimum contracts |
1cont | 1cont | 1cont | 1cont |
|
Single order limit |
30,000cont | 20,000cont | 120,000cont | 30,000cont |
|
Leverage |
1～50 | 1～50 | 1～50 | 1～50 |
|
Contract |
ATOMUSDT Perpetual |
GALAUSDT Perpetual |
KNCUSDT Perpetual |
TRXUSDT Perpetual |
|
Type |
Perpetual, linear contract | Perpetual, linear contract | Perpetual, linear contract | Perpetual, linear contract |
|
Identifier |
ATOM／USDT | GALA／USDT | KNC／USDT | TRX／USDT |
|
Contract size |
1ATOM / cont | 10GALA / cont | 1KNC / cont | 100TRX / cont |
|
Maintenance margin (MM) |
1% | 1% | 1% | 1% |
|
Minimum price change |
0.001 | 0.00001 | 0.001 | 0.00001 |
|
Minimum contracts |
1cont | 1cont | 1cont | 1cont |
|
Single order limit |
10,000cont | 200,000cont | 80,000cont | 20,000cont |
|
Leverage |
1～50 | 1～50 | 1～50 | 1～50 |
|
Contract |
SANDUSDT Perpetual |
ALGOUSDT Perpetual |
ENSUSDT Perpetual |
GALUSDT Perpetual |
|
Type |
Perpetual, linear contract | Perpetual, linear contract | Perpetual, linear contract | Perpetual, linear contract |
|
Identifier |
SAND／USDT | ALGO／USDT | ENS／USDT | GAL／USDT |
|
Contract size |
1SAND / cont | 10ALGO / cont | 0.1ENS / cont | 1GAL / cont |
|
Maintenance margin (MM) |
1% | 1% | 1% | 1% |
|
Minimum price change |
0.0001 | 0.0001 | 0.001 | 0.0001 |
|
Minimum contracts |
1cont | 1cont | 1cont | 1cont |
|
Single order limit |
100,000cont | 40,000cont | 40,000cont | 15,000cont |
|
Leverage |
1～50 | 1～50 | 1～25 | 1～25 |
|
Contract |
1000SHIBUSDT Perpetual |
OPUSDT Perpetual |
|
Type |
Perpetual, linear contract | Perpetual, linear contract |
|
Identifier |
1000SHIB／USDT | OP／USDT |
|
Contract size |
1000SHIB / cont | 1OP / cont |
|
Maintenance margin (MM) |
1% | 1% |
|
Minimum price change |
0.00001 | 0.0001 |
|
Minimum contracts |
1cont | 1cont |
|
Single order limit |
10,000,000cont | 80,000cont |
|
Leverage |
1～50 | 1～50 |
Q:Example：
How is the BTC / USDT Perpetual Contract quoted?
A: The underlying price of the BTC / USDT contract is the Billance index. The underlying price and the price of the perpetual contract are both quoted in USDT. All margins and PNL are quoted in USDT only.
Traders who want to profit from the rise in the BTC / USDT Index will buy BTC / USDT Perpetual contracts. On the contrary, traders who believe that its value will fall will short the perpetual contract.
Examples of transactions:
A trader goes long 100 BTC of BTC at a price of 30,000 USDT. He is long 100BTC/0.001BTC/cont = 100000 contracts. A few days later, the price of the contract increases to 40,000 USDT.
Profit will be: 100000 * 0.001 * (40,000 – 30,000) = 1,000,000USDT
Billance Team