DragonEx futures contract is a virtual derivative product that is settled in digital tokens USDT, DT etc. Each contract has a face value of fixed amount of digital token(e.g BTCUSDT contract has a face value of 0.1 BTC). Traders can long a position to profit from the increase of a digital asset's price, or short a position to profit from the decline of a digital asset's price. The available range of the leverage is 1-100x.
Delivery Date – Futures contracts have a fixed delivery date, and the delivery price is the arithmetic mean of the index for the preceding hour before delivery;
Mark Price - Mark price is used to calculate users' unrealized profits and losses (UPL) in order to reduce unnecessary liquidation in volatile market conditions.
Daily Settlement – a daily settlement process (at UTC 08:00) moves Unrealized PnL into Realized PnL, increasing flexibility of capital utilization.
Tiered Maintenance Margin Ratio System - Maintenance margin ratio (MMR) is the lowest margin ratio required for holding a user's current positions. When the Margin Ratio drops below the MMR plus the liquidation fee rate. The larger the position a user holds, the higher the MMR, and the maximal leverage available will be lowered effectively.
1. Fund transfer
1.1. Log in to the APP, select the futures, and enter the transaction page.
1.2. Take the BTCUSDT bi-weekly as an example. Select Fund Transfer on transcation page, transfer from the exchange account to the BTCUSDT delivery contract account, and enter the amount of USDT of the transaction funds.
There are currently two ways to place orders, limit orders and advanced limit orders. Take the limit order as an example.
First, select the limit order, enter the price, and select the leverage. Click the button "Open Long (Bull)" and confirm the purchase.
Second, if all orders are not completed immediately after placing the order, you can view or cancel the Pending positions
3. Check Profit
If all transactions are completed, you can check it in Open positions, you can view the information such as profit, P/L Ratio and settled Earnings, unrealized P/L in Open position page.
On the delivery day, the system takes the latest marked price at the settlement moment as the settled price for settlement.
After settlement, the user's realized P/L and unrealized P/L will change the holding position cost accordingly, but the user's actual equity will not change.
Futures ends, DragonEx will launch a new contract.