BingX Perpetual Futures is a futures product settled with cryptocurrencies that allows investors to buy long or sell short to profit from the rise or fall of the cryptocurrency prices. The Perpetual Futures has no delivery date and never expires.
This article provides a comprehensive overview of the BingX Perpetual Futures trading page to help you check your trade details more easily.
I. How to Access Perpetual Futures?
Log into BingX App, tap on "Trade" on the bottom navigation bar and choose "Futures". Then, tap on "Perpetual Futures" on the top navigation bar to enter the Perpetual Futures trading page.
2. How to Start Your First Trade?
1. Top up the Futures account
Tap on the icon as shown on the image and add funds to your Perpetual Futures Account via "Transfer" or "Deposit".
1.1 Transfer: Transfer funds from Fund Account or Standard Futures Account to Perpetual Futures Account.
1.2 Deposit: Deposit assets via the blockchain directly to Perpetual Futures Account.
2. Open a position
2.1 Select a trading pair: Select a desired trading pair such as BTC/USDT. You can also view the contract info in different sections according to your own needs.
2.2 Adjust the leverage: Tap on the current leverage (5X by default, with a maximum value of 150X), adjust the slider or enter a numerical value to set up the leverage, and then tap on "OK".
Please be aware that the larger your position size, the lower the leverage that you can apply, and vice versa. Higher leverage comes with a higher risk of forced liquidation.
2.3 Complete the order:
Fill in the order price and amount. Choose Open Long if you expect the price to go up and Open Short if you expect the price to go down. BingX now supports five order types including Limit, Market, Trigger, Trailing Stop and Post Only. You can click to switch the order type. For details: About Order Type (Perpetual Futures).
Decide a direction and place the order. Going long represents a bullish view, while going short represents a bearish view. In case you need to set up TP/SL before opening a position, tick the circle in front of TP/SL and configure the settings accordingly. For details: Perpetual Futures | FAQ on TP/SL.
If you want to try out trading perpetual futures with zero slippage, we recommend using BingX's exclusive Guaranteed Price (GTD Price) feature. This feature will ensure that your order gets filled at your preset price without any slippage, regardless of how the market fluctuates, to safeguard your trading and avoid unnecessary losses. For details: Perpetual Futures Upgrade: Exclusive Guaranteed Price Launched to Prevent Slippage Losses.
3. View the Position
Details of the filled order such as avg. position price, position size and unrealized PnL can be viewed in Position; Pending orders can be viewed in Open Orders.
3.1 Unrealized PnL: It displays the real-time unrealized profit or loss of the position. Please note that the position PnL is estimated based on the last price and does not include any trading fees or funding fees that may generate or be collected during holding the position. For details: Perpetual Futures | PnL Calculations Explained.
3.2 ROI: It refers to the percentage of unrealized PnL, displaying the return on investment (ROI) for this position in percentage format. Similar to unrealized PnL, this figure fluctuates along with the last market price.
3.3 Size: The position size refers to the amount of the contract, denominated in the underlying currency of the contract. To control the risk of high leverage, your max. position limit is related to the leverage multiplier. Use lower leverage to get a larger position limit. For details: https://bingx.com/tradeInfo/swap-trading-rules/?pair=celoUSDT.
3.4 Avg. Position Price: The average entry price of the position. Avg. Position Price = The total value of the contract / the total size of the contract.
3.5 Margin: Position margin refers to the amount of margin collateralized to maintain the position. In the Isolated Margin mode, investors may lose the entire margin of the position (excluding funding fees) once forced liquidation occurs. Investors can manually add more funds to the position as initial margin to lower the liquidation risk. Please note that once the initial margin reaches the position value, investors will not be able to add any additional margin.
3.6 Mark Price: The mark price is used for calculating all unrealized PnL to prevent market manipulation. The perpetual futures price of a contract equals to or close to the spot price. For details: Perpetual Futures | Mark Price & Index Price.
3.7 Risk: Be aware of the risk level when holding a position to prevent forced liquidation. You can also monitor the position in the auto-deleveraging (ADL) queue under this section. It's especially important to keep an eye on this point during high volatility.
3.8 Est. Liq. Price: The estimated liquidation price can be calculated based on "Margin ≤ Maintenance Margin + Taker Fees". BingX adopts Dual-Price Mechanism, where a user's position is only liquidated when both the last price and the mark price reach the estimated liquidation price. For details: Perpetual Futures | New Dual-Price Mechanism.
When forced liquidation occurs, users will lose the entire margin of the position (for Cross Margin mode, users will lose the entire margin of the corresponding account). Users are advised to pay close attention to any changes in the mark price and the estimated liquidation price to avoid forced liquidation. For details: Perpetual Futures | Forced Liquidation Rules
4. Close a position
Tap on "Close" and select a direction to close the position.
4.1 Settlement: Including trading fees and funding fees. For details: Perpetual Futures | Fee Schedule.
4.2 Reverse a position: Users can tap on "Reverse" to close the current position and create a same-size position of the opposite direction quickly in response to market changes.
III. Other Modules on the Perpetual Futures Page
1. Funding rate and the order book
On the page, you can check the following information:
- Expected funding rate and the time remaining until the next settlement of funding fees.
- Real-time order book data: Allows you to view the latest trade information in real-time. In the dropdown menu below this section, you can adjust the precision of the order book (0.1 by default).
2. Market data
Tap on the candlestick icon to check the candlestick chart of the trading pair, and switch between Last Price and Mark Price here. Be particularly mindful of the Mark Price, as positions are closed based on it.
3. More futures features
Tap on the icon as shown in the image, and you'll be able to access more features of BingX Perpetual Futures, such as Preferences, Futures Grid, Calculator, Info, Demo Trading and Fee Level, etc.