introduction

1. What is the contract type of BingX?

BingX is trying to build a different financial instrument

Infinite depth
Billing can be done on the bill
Use USDT to play the whole market
Perfect linear benefit
Ultra high leverage
Easy to short
Big deal

Example

Suppose the user is doing more BTC in the contract, 10 times leverage. After the increase, the BTC has increased by 10%.

The gains made in the BingX market at this time are 100% ;

At this time, the gain obtained in bitmex is 50% ;

The gain in the spot market at this time is 10% .

This is because bitmex used BTC as the trading principal, which affected its yield curve. At the same time, this is a common problem with other futures contract platforms.

Second, BingX uses USDT as the advantage of trading principal

At present, contract futures in the digital currency market have to use this currency for trading. To play the ETH contract, you have to use ETH, you have to use BTC to play BTC.

In BingX, you can use USDT to play all currency contracts, which is not available in the same futures contract platform. Of course, spot can also use USDT to play all currencies, but unfortunately the spot does not support high leverage trading.

After BingX chose USDT as the contractual principal, it is not limited to digital currency futures contracts, it can even shine in the stock, gold, crude oil and other markets.

Third, a complete transaction process in BingX

The essence of is the expected purchase of users' future K-line movements. So it does not involve the real impact on the K line. We took the spot K line as the target trend.

When a bilateral user places an order (that is, predicts the K line), we will internally hedge, that is, the orders of both parties and empty parties cancel each other out. If there is no offset, the system will start the risk control system and complete the risk hedging externally. (The spread is in the cost of our external hedging, and the user does not need to bear the spread of all the quotes)

Fourth, on the opening limit protection and spreads

What is the nature of opening price limit protection? In fact, it is a spread. This is an indispensable thing in the mechanism.

When the user places an order, we will hedge the net position without mutual hedging to the spot market. The platform to conduct market transactions is a cost, may be a handling fee, may be a spread, and may be a loss caused by market fluctuations. And its advantage is that in the huge market, our platform is to take all risks for you. - The spread will first convert the uncertain risk into a certain spread.

What effect does the spread have on you? Opening the position in the appropriate direction, you will not be subject to any spreads and may gain a greater trading advantage. If you are a precision strategy player, you need to consider the cost of opening a position in another direction.

There is still a question, why is there a price limit (clear spread), or is it possible to slip? When you click "Confirm Order", the software will request the server, the price is the latest price when the server accepts the request. If the request is received and the user clicks on the order, there is a difference of less than 1 second. Price fluctuations may have occurred in it. We have optimized this.

It is precisely because of this mechanism of that there is an infinite depth and a smooth trading experience at any time.

Fifth, how to avoid the risk of pin insertion

At present, BingX's comprehensive service of K-line services , we all know that traditional digital currency exchanges will have a risk of pin insertion as long as they involve futures contracts.

The risk of pin insertion mainly comes from two points. One is the sudden pin insertion caused by the large platform of the specific platform, and the other is the large-scale malicious insertion of the platform.

As mentioned earlier, integrate multiple spot K-line trends, users will not pull the disk, but also avoid the malicious pin of the single platform, greatly reducing the risk of pin.