Multi-Assets Mode
Bitunix contracts provide two margin modes: single-asset mode and multi-assets mode:
- Single-asset mode: Uses USDT as the sole margin.
- Multi-assets mode: Allows other tokens to be used as assets for trading USDT-M futures/ In this mode, all supported tokens can serve as margin, but their valuation is reduced according to a discount rate. For example, if a token's value based on the index price is 1,000 USDT and the discount rate is 0.95, its margin value in multi-assets mmode would be 950 USDT.
Wallet Balance
The balance of a given token in the futures account, excluding unrealized profit and loss. It refers to the remaining amount of the token under the cross-margin mode.
Multi-Assets Magin
Multi-Assets margin = (Token 1’s equity × Token 1’s discount rate) + (Token 2’s equity × Token 2’s discount rate) + ...
- Token equity = The value of the token’s account assets converted to USDT + unrealized profit and loss.
- Example: You have 0.1 BTC and 1,000 USDT. Assuming the index price of BTC is 10,000 USDT, and BTC’s discount rate is 0.9:
- BTC equity = 0.1 × 10,000 + 0 = 1,000 USDT.
- USDT equity = 1,000 USDT.
- Multi-assets margin = (BTC equity × BTC discount rate) + (USDT equity × USDT discount rate) = 900 + 1000 = 1,900 USDT.
Net Value
The value of each token’s equity calculated based on the corresponding discount rate, which can be used as margin. Note that this is a conversion value, not the actual settlement currency amount in your account (for USDT-M futures, this is USDT).
- Example: If you have 0.1 BTC, with an index price of 10,000 USDT and a discount rate of 0.9, the net value of BTC = 0.1 × 10,000 × 0.9 = 900 USDT.
Available Margin
The margin available for opening positions. Calculation formula:
- Available = max(0, contract assets - occupied margin + unrealized profit and loss in isolated mode)
- If losses in isolated mode exceed “contract assets - occupied margin,” the actual available value will be negative. In such cases, transferring funds into the account may result in a smaller increase in available funds than the deposit amount.
Maintenance Margin Ratio
Maintenance margin ratio = Maintenance margin ÷ Cross margin.
Discount Rate
The discount rate is used to convert a token’s margin value to its equivalent USDT value. For example, if a token’s discount rate is 0.9, its value in USDT = 0.9 × the token quantity × the token’s index price. The discount rate is tiered, and details can be found in the futures trading rules.
Exchange Rate
The exchange rate is applied during conversions, and the calculation formula is:
- Exchange amount = Token quantity × Token index price × Corresponding exchange rate
Scenarios for exchange include:
- When switching from cross-margin to single-currency margin mode, if there is a USDT liability, other tokens in the contract account can be converted to USDT.
- When liabilities exceed the personal liability limit, the risk control system will automatically convert assets to repay the debt.
- When there is a risk of liquidation or a reduction in position, the system will convert assets to reduce the risk.
Debt
In cross-margin mode, liabilities arise when the balance of a token is negative.
- Debt = min(0, wallet balance)
- Only USDT can result in liabilities in U-based cross-margin mode.
Interest-Free Limit
No interest is charged if the liabilities are within the interest-free limit. The amount subject to interest is calculated as:
- Interest-bearing amount = IF(liabilities > interest-free limit, liabilities, 0)
- The interest-free limit is 20,000 USDT.
Interest
Interest is calculated as the interest-bearing amount × corresponding interest rate.
- Interest is charged hourly, based on the liability amount at the time of collection. For example, at 8:00 (UTC+0), if the liability amount is 100 USDT, interest will be charged on this amount.
Borrowing Limit
To control risks, a maximum borrowing limit is set. If this limit is exceeded, automatic conversion repayment will be triggered.
- The borrowing limit for U-based contracts is currently 600,000 USDT. If the liabilities are too high, an early warning message will be sent.
Repayment
Repayment scenarios include:
- Manual repayment: When there is a debt, you can click the repay button or choose to repay through conversion or transfer.
- System-triggered automatic repayment when the borrowing limit is reached.
- System-triggered automatic repayment due to liquidation risk.