Min: 1 USD. Max: 100 USD.
Your position will automatically close at 3% to bank profits or at 2% in the opposite direction to minimize losses.
Simply put, Futures is a lending product where you borrow crypto from us (using your USD as collateral) to profit from a price prediction.
For example, if you believe ETH will rise in price, you put down USD collateral and we buy the equivalent amount of crypto at 50x leverage.
If your prediction is right, you could earn up to 2.5x your collateral as a return. If you’re wrong, you lose your collateral.
You can repay your Futures position at anytime, either to take a smaller profit or minimize the loss of your USD collateral.
50x leverage simply means we buy 50 times more crypto than the amount of USD collateral you put down. That’s why small price changes have a big effect on profits and losses. For example, if you put down $10 as collateral, we’ll buy the equivalent of $5,000 in your chosen cryptocurrency.
Then, if the price moves up to 3% in your predicted direction, you earn 150% of your USD collateral as a return. However, if it moves up to 2% in the opposite direction, you lose some or all of your collateral.
The fee for using Futures is 0.2% on the total leveraged position. For example, if you open a position at $10 at 50x leverage, the fee is calculated as follows:
0.2% of (10 x 50) = $1.
The fee is charged immediately after opening a Futures position and is payable whether your prediction comes true or not. You must have enough in your balance to cover both your USD collateral and the fee before you can open a Futures position.