USDT-Margined futures are futures products quoted and settled in USDT. Hotcoin supports more than 50 U-margined futures trading pairs, with leverage of up to 125x. In futures trading, you can participate in market price fluctuations and obtain profits by going long or short on a certain contract trading pair.
If you choose to go long, it means you are buying the contract and predicting that its price will rise in the future.
If you choose to go short, you are selling the contract and predicting that its price will decline in the future.

Step 1: Log in and select a futures trading pair

Use a browser to visit Hotcoin's official website, or download and open the Hotcoin App . After successfully logging in, click [Futures] and select [Perpetual Futures] to enter the U-margined futures trading page.

Select the futures trading pair you wish to go long or short on from the trading pair selection area on the left, such as BTC/USDT.

Step 2: Select the trading mode "Cross Margin" or "Isolated Margin", "Merged Margin" or "Split Margin"

The Cross Margin Mode refers to using the entire of your account balances as margin to back all cross positions, helping to avoid forced liquidation. In this margin mode, forced liquidation will be triggered when the account's net asset value is insufficient to meet maintenance margin requirements. If a cross position is liquidated, the user will lose all assets in the account, except for the margin in other isolated positions. In Isolated Margin Mode, the maximum loss is limited to the initial margin and position-added margin used for that isolated position. If a position is liquidated, the user will only lose the margin for that isolated position, and the account balance will not be additionally called. By isolating the margin used for each position, you can limit losses to that specific position.

In Merged Margin Mode, a maximum of two positions are allowed for the same trading pair, with the same leverage for positions in the same direction.

In Split Margin Mode, multiple positions can be opened for the same trading pair, and the leverage can have its own leverage settings.

The system defaults to Cross/Isolated Mode. You can click [Isolated] or [Split] to reselect the trading mode if needed.

Step 3: Choose the Position Direction: "Open Long" or "Open Short"

Buy to go long: If the trader anticipates that the market price will rise in the future, they go long by buying a certain amount of contracts. Going long is essentially buying the contract at an appropriate price and then selling (closing the position) once the market price increases to profit from the price difference, similar to spot trading. This is also known as "buy first, sell later.

Sell to go short: If the trader anticipates that the market price will fall in the future, they go short by selling a certain amount of contracts. Going short is essentially selling the contract at an appropriate price and then buying it back (closing the position) when the market price decreases to profit from the price difference, known as "sell first, buy later.

Once you've selected your position direction, proceed to the corresponding order entry area:

Step 4: Choose the order type

Limit order: Limit order allows users to set a specific order price. The order will be executed at the set price or a better price if available.

Market order: The market order will be executed at the best price available on the order list at that time. No price needs to be set, ensuring a fast execution of the order.

Trigger order: A trigger order is set at a trigger price. When the selected base price reaches the trigger price, the order will be placed at the specified price (either limit or market order).

Maker only: When placing an order, you can choose to place a Maker only order, meaning your order will not be executed immediately in the market. It will remain in the order book as a Maker order and will not match with existing orders. Maker Only orders add liquidity to the market. When executing orders as the Taker, you will only pay the Maker fee, not the Taker fee.

Step 5: Set leverage multiplier

Hotcoin perpetual futures support leverage up to 125x, with the leverage multiplier varying based on the futures trading pair. Leverage is determined by Initial Margin and Maintenance Margin levels, which define the minimum amount of funds required to open and maintain a position.

You can set the desired leverage multiplier before opening a position, or you can adjust the leverage during the position. For example: if your current long position is 20X leverage, and you plan to reduce the risk through a long-short hedge, you can adjust the leverage from 20x to 10x. Click the [20X] button, then manually adjust it to 10X, and finally click [Confirm] to update the leverage of your long position to 10x.

Note: If you choose high leverage, please make sure to read the Margin Trading Risk Disclosure carefully.

Step 6: Set the order price and take profit and stop loss

The order price is the price at which you expect your futures trade to be executed in the market. When selecting a limit order, you can select counter price and the Best N levels. Counter price refers to placing an order at the opposing party's quoted price, meaning buying at the ask price or selling at the bid price. Based on the price priority principle, this ensures immediate execution. The best N levels refers to placing an order at the best N levels of the opposing party's order book. This option lets you choose from the N best available prices.

The Hoitcoin futures supports setting both [Take Profit] and [Stop Loss] simultaneously. For example, if you open a long position on the BTC/USDT contract at a price of 26,785 USDT, you can set the trigger prices for both Take Profit and Stop Loss at the same time.

Step 7: Transfer margin

Click Fund Transfer at the bottom left, then transfer USDT from your spot account to your perpetual futures account as the opening margin, Enter the amount of capital you wish to use for trading and click Transfer Now to complete the transfer.

Step 8: Click "Buy to Open Long" or "Sell to Open Short" to complete the order

Step 9: After placing an order, you can view the order status

Unfilled orders will be displayed under "Current Orders". Once the order is filled, the position you hold will appear in the "Current Positions" list. You can view your order history in the "Order History" list. You can also adjust leverage or close your position as needed.

You can perform more operations on your position:
Add position: Increase the position size in the same direction, trading pair and leverage. The added position will be at the latest market price;
Market Close All: This is a Lightning Close, which immediately closes all positions at the current market price.

Reverse Position: A reverse position will close the current position at the market price and open an equivalent reverse position. Please ensure your balance is sufficient. Due to market fluctuations, reverse positioning may not always be successful.

Warm reminder: Hotcoin encourages users to reduce risk and trade cautiously by managing fund allocation and position size.