Chỉ dẫn nội dungVề BaseFEXHỗ trợ người dùngTổng quan về hợp đồng tương laiTổng quan về hợp đồng vĩnh viễnBTCUSDT Giới thiệu về hợp đồng vĩnh viễnBTCUSD Giới thiệu về hợp đồng vĩnh viễnPhí giao dịchGiao dịch như thế nào/ Cách giao dịchMargin/ ký quỹ/ đòn bẩy tài chính - intial margin (ký quỹ ban đầu)/ maintance margin (ký quỹ duy trì)/ margin đã sử dụng Cross Margin và isolated margin/ ký quỹ - vị thế theo - vị thế toàn bộKý quỹ- Giảm thiểu rủi rolệnh / Các loại lệnhlệnh / Cài đặt lệnh Tổng quan về Thanh lý bắt buộcThanh lý bắt buộc - Đánh dấu mức giá hợp lýThanh lý bắt buộc - tự động giảm vị thếPhí tiền vốnLời lỗ/ Biến động số tiềnPhái sinh tiền kỹ thuật sốHợp đồng hoán đổi không kỳ hạn ( Swap Contract)Thời hạn BitcoinHợp đồng tương lai EthereumHợp đồng hoán đổi không kỳ hạn XRPGiao dịch Margin/ ký quỹLimit Orders vs Stop OrdersBaseFEX vs. Competitorsđiều cần biết khi rút tiềnKhông được KYC cho phépBáo cáo và đánh giáHoàn tiền thông qua mời người khác tham giaĐiều khoản phục vụChính sách riêng tưTính an toànThuật ngữ "Ký quỹ"Các vấn đề thường gặpBlog
  • What is Perpetual Swap Contract?

    A perpetual contract is a special type of futures contract, but unlike the traditional form of futures, it doesn't have an expiry date. So one can hold a position for as long as they like. Other than that, the trading of perpetual contracts is based on an underlying Index Price. The Index Price consists of the average price of an asset, according to major spot markets and their relative trading volume. Thus, unlike conventional futures, perpetual contracts are often traded at a price that is equal or very similar to spot markets. Still, the most significant difference between the traditional futures and perpetual contracts is the 'settlement date' of the former.

    • Contrary to futures, open-ended contracts do not have expiry dates.
    • The price of a futures contract and its underlying may be very different, the convergence of these two prices being guaranteed at the end of the contract. Perpetual design contracts are traded at a price close to the price of the underlying (spot). The proximity of the perpetual price to the spot price is achieved through the funding explained below.
    • The above property indicates that permanent contracts are traded as leveraged cash markets, that is, at the margin.

    Benefits of Perpetual Contracts Versus Futures Contracts

    Since a futures contract has an expiry date, an operator seeking to maintain its position will have to periodically switch to another contract upon expiry of the previous contract. Contracts of indefinite duration eliminate the need to reverse positions. The difference between the price of a futures contract and its underlying (that is, the base) can vary considerably. This exposes the futures operators to the basic risk. Since the indefinite contract aligns transactions close to the spot market, the basic risk is minimal and limited.

    Explanation of The Funding Rate

    Funding is the main mechanism that sets the price of a contract of indefinite duration. The funding consists of a series of ongoing payments that are exchanged between long and short contracts in a contract of indefinite duration. Let's see how the funding helps keep the price of the open-ended contract close to the cash price.

    Perpetual contract price > Spot price

    When a contract of indefinite duration is traded at a premium to be spotted, the funding is positive; that is, it wants to pay long-term funds. It discourages staying long or entering a new long position. Conversely, it creates an incentive to stay short or to enter a new short position. This dynamic will be used to lower the price of the contract of indefinite duration towards the cash price.

    Perpetual Contract Price < Spot Price

    When a contract of indefinite duration is negotiated at a discounted cash price, the funding is negative, i.e., the shorts pay long-term funding. This deters staying short or entering a new short position. Conversely, it creates an incentive to stay for a long time or to enter a new long position. This dynamic will be used to raise the price of the contract of indefinite duration towards the cash price.

    Why Can BaseFEX Offer You?

    BaseFEX is the only crypto derivatives exchange that puts traders first. We offer the world’s lowest trading fees, highest verified security, 24/7 live support and up to 100x leverage – all without any KYC. You can trade BTC, ETH, XRP, BCH, LTC, EOS and BNB futures with perpetual contracts.

    Learn more about what sets BaseFEX apart.

  • ---