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Bitunix Multi-Assets Mode Introduction

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1. Multi-Assets Mode Overview

Bitunix futures offer two margin modes: Single-Asset Mode and Multi-Assets Mode. Currently, as only USDT-margined contracts are supported, the Single-Asset Mode uses USDT exclusively as margin, whereas the Multi-Assets Mode allows other tokens to serve as margin. This reduces the overall margin required since users don’t need to prepare sufficient margin for each individual position. Additionally, users only need to manage one unified margin position instead of multiple isolated ones, lowering management costs and complexity.

The Multi-Assets Mode supports transferring various margin currencies. Currently supported tokens include: USDT, BTC, ETH, SOL, XRP, BNB, DOGE, and USDC. Announcements will be made in advance for any additional supported tokens.

2. How Is Multi-Assets Margin Calculated?

In Multi-Assets Mode, the valuation of tokens used as margin is discounted according to their respective discount rates:
Multi-Assets Margin = (Asset 1 Value × Asset 1 Discount Rate) + (Asset 2 Value × Asset 2 Discount Rate) + ...
Asset Value = Token Balance (converted to USDT) + Unrealized PnL (Profit and Loss)

For example, suppose you have 0.1 BTC and 1,000 USDT. Assuming the BTC index price is 10,000 USDT and the discount rate for BTC is 0.9, the BTC asset value is:
0.1 × 10,000 + 0 = 1,000 USDT.

Since Unrealized PnL for USDT-margined contracts is calculated in USDT, the unrealized PnL for BTC is 0.
The USDT asset value is 1,000 USDT.
Thus, Multi-Assets Margin = BTC Value × BTC Discount Rate + USDT Value × USDT Discount Rate = 900 + 1,000 = 1,900 USDT.

Reference Links:

3. Asset Conversion in Multi-Assets Mode

In Multi-Assets Mode, debts are repaid through asset conversion, where non-USDT tokens in the contract account are converted to USDT. This approach is faster and more cost-effective. The conversion amount is calculated as follows:
Converted Amount = Token Amount × Token Index Price × Conversion Rate

Conversion scenarios include:

  1. Switching from Multi-Assets Mode to Single-Asset Mode:
    When converting to Single-Asset Mode, if there is USDT debt, other tokens in the USDT-margined contract account can be converted to USDT to settle the debt.

  2. Exceeding Personal Debt Limits:
    When debt exceeds the personal debt limit, the system triggers risk control and repays the debt through conversion.

  3. Reducing or Liquidating Positions:
    If there’s a risk of position reduction or liquidation, the system repays the debt via conversion to mitigate risks.

Reference Link: Asset Conversion in Multi-Assets Mode

4. Debts in Multi-Assets Mode

a. Debts and Interest

In Multi-Assets Mode, all profits, fees, and funding costs are settled in USDT. Therefore, a USDT deficit creates debt, calculated as follows:
Debt = abs(min(0, USDT Wallet Balance))

If debt exists, interest will be charged once the debt exceeds the interest-free threshold.

b. Interest-Free Threshold

No interest is charged if the debt is below the interest-free threshold. Interest is only charged on the amount exceeding the threshold:
Payable Interest = IF(Debt > Threshold, Debt, 0)
The interest-free threshold is 20,000 USDT.

c. Interest Calculation

Interest is charged on the amount requiring interest at the corresponding rate. Interest is calculated hourly, with the debt assessed at the time of collection. For example, if at 8:00 (UTC+0), the debt requiring interest is 100 USDT, interest will be charged on this amount at that time.

5. How to Switch to Multi-Assets Mode?

Switching between Single-Asset Mode and Multi-Assets Mode is subject to certain conditions:

  • Switching from Single-Asset to Multi-Assets Mode:
    Requires no open positions or active orders, and all positions must be cross-margin. If there are isolated margin positions, convert them to cross-margin before switching.

  • Switching from Multi-Assets to Single-Asset Mode:
    Requires no debt, no open positions, and no active orders.

a. On Bitunix Website

Switching can be done directly in the settings by clicking the button on the bottom right.

b. On Bitunix App

Swithcing can be done directly by clicking the icon on the top right of the futures trading page.

 

 

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