What is perpetual futures?
Perpetual futures is a type of crypto derivative contracts allowing traders to speculate on the future price of an asset - similar to traditional futures - but does not have an expiration date.
Traders can opt to buy long or sell short contracts based on their predictions of price movements and thus profiting off of potential fluctuations.
How is the trading fee calculated?
Whenever you open or close a position, our platform charges a fee. This fee will be deducted from your futures account balance (for cross-margin) or your margin (for isolated-margin) and will not be factored into your realized profit or loss.
For our USDT-margined futures, trading fees are denominated in USDT and will be incurred when opening, closing, or partially closing a position. Pending orders will not incur trading fees.
Trading Fee = Position Size * Entry Price * Fee Rate
Fee Rate: Taker 0.06%; Maker 0.04%
What is a Taker/Maker?
A Maker is a trader who provides liquidity to the market by placing limit orders that are not immediately filled.
A Taker is a trader who takes advantage of the liquidity provided by Makers, placing market orders that are immediately executed.
Since Makers are facilitating market flow by providing liquidity, they are typically charged less by trading platforms.
What is funding rate?
Since perpetual futures have no expiration or delivery date, a "Funding Mechanism" is required to tether the futures price to the underlying's spot price.
Funding payments are made every 8 hours every day at 08:00, 16:00, and 24:00 UTC+8.
Only traders with open interest at these time points will be affected by this mechanism.
At the time of funding, traders will either receive or make funding payments based on the current funding rate. When the funding rate is positive, long position holders will pay short position holders, and vice versa for negative rates. These fees will be transferred directly between traders with no additional charges from CoinW.
How is this funding payment calculated?
At the time of funding, you will pay or receive a fee equals to Your Position Value * Current Funding Rate.
About CoinW Perpetual Futures
Please refer to our perpetual futures trading rules page.
What is Cross/Isolated Margin Mode?
Cross margin mode: All available balances in your Futures account can and will be used as margin for your positions. You can transfer in assets at any time to avoid forced liquidations or transfer out assets to curb your losses. But in case of a forced liquidation, all available balances in your Futures account will be lost.
Isolated margin mode: You must allocate a certain amount of assets as margin for each futures position. In case of a forced liquidation, only margin allocated to this position will be lost.
Note: You can not switch between Cross and Isolated margin mode with outstanding orders.
What is Split/Merge?
Split: Different positions for the same coin pair are displayed separately.
Merge: All positions for the same coin pair are merged and displayed as one position.
Note: You can not switch between Split and Merge mode with outstanding orders.
For more instructions, see
【Operation Instructions for Separating and Combining Contracts (APP)】
【Operation Instructions for Separating and Combining Contracts (WEB)】
How does transferring assets between accounts work?
You can transfer assets between your Funding, Futures, and other accounts at CoinW immediately.
Not all balances are available for transfer so refer to the maximum available balance for transfer when doing so.
What is margin?
Margin is the collateral you need to deposit to cover your credit risk when trading futures. You don't have to pay the full price of your orders but only the minimal amount to collateralize your position.
However, you must maintain your margin level above a certain threshold or you might risk forced liquidation.
How is margin calculated?
When opening positions,
Initial Margin = Position Value/Leverage Ratio.
Maintenance Margin = Position Value * Maintenance Margin Rate
Initial margin is only associated with the underlying's price at the time of opening positions and will not be affected by its price fluctuations afterwards. Refer to this page for our latest maintenance margin rate.
If your futures account balance (for Cross Margin Mode) or allocated margin (for Isolated Margin Mode) is lower than the required maintenance margin, a forced liquidation will be triggered.
What is a forced liquidation?
When your margin is below a certain level, i.e., not enough to maintain your position, a forced liquidation will be triggered. You will lose your allocated margin for liquidated positions (Isolated Margin mode) or all available balance in your Futures account (Cross Margin Mode).
Super Bonus
Super Bonus is a bonus for your Futures account. This Bonus can be used to trade Futures at CoinW without having to worry about losses.
Super Bonus can only be used as isolated margin for opening futures positions and can not be combined with any other asset in your Futures account.
Each Super Bonus comes with a face value and cannot be split or merged with other Super Bonus, vouchers, or coupons.
Positions margined with Super Bonus cannot be followed up, closed partially, or reverse opened with one-click.
Positions margined with Super Bonus can only be held for 24 hours. If the position is not manually closed or forced liquidated after 24 hours, CoinW will automatically close the position with a market order.
All realized profit from Super Bonus will be automatically transferred to your Futures account and can be withdrawn and transferred. All losses from Super Bonus will be borne by CoinW.
You must complete our Advanced KYC to use Super Bonus. For more information, please refer to:
[About the initial and advanced operation process of real-name authentication]
For details, see FAQ [Futures Super Bonus Introduction]