In the previous lessons, we have learned what cryptocurrency derivatives are and also explained the common terms and concepts in perpetual contracts. Next, we will use Bitunix as an example to explain how to trade perpetual contracts.
Register a Bitunix Account
To start, you can go to Bitunix website, or download the mobile app on iPhone or Android from the app stores. Simply follow the instructions by entering your email address, phone number and password. Complete the verification with the code sent to your email or phone number.
Deposit into Your Account
After registration,you can now deposit your digital assets into your account. Bitunix support several different networks, such as Omni, Tron, Ethereum, Solana, BSC and more. Click "Deposit" under "Assets" on the top right of the page. On the withdrawal page of other exchanges or your wallet, enter the address shown, or scan the QR code to complete the deposit of digital assets. When you are deposting, please make sure the cryptos name, transfer network and deposit address are correct.
Transfer Asset into Futures Wallet
Click [Futures] under Derivatives on top of the screen, then click the [Transfer] icon on the right to add funds from your Spot Account to your USDT-Margined Futures Account. After transferring, you can now open your position.
Explanation of Perpetual Futures Trading Page
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Trading pairs and current prices
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marker price, index price, high price, low price, price change
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Current and next period rates
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price trends
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order book and marketplace
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operation panel
Open a Position
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Select Futures: BTC/USDT
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Select Margin Mode or Leverage: Isolated
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Select Open a Position
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Select Order Type, Bitunix supports Limit, Market and Plan orders.
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Enter the Price and the Amount
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Select Buy to open a long position; or Sell to open a short position
View Your Order or Position
If your order is not filled immediately, you can view or cancel your order under [Normal Order]
If your order is filled, you can view your position including its open price, liquidation price, margin, PnL ratio(Profit or Loss ratio). You can also use Limit Price or Market Price to quickly close your position
How to Close a Position
After a position has been held, you can enter the price and quantity at [Close Position] on the right side of the screen to submit an order, or select the limit price or market price from the current position below and enter the quantity to close the position quickly.
Disclaimer
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Crypto investment involves significant risks. Please proceed with caution. The course shall not be considered investment or financial advice.
Next: Lesson 7 - How to Build Your Trading & Investment Strategy