# Contract transactions ### I. OVERVIEW OF THE CONTINUED CONTEXT Perpetual Futures is a derivative contract without maturity that allows users to participate in market price fluctuations and potential gains by doing more (to see up) or by doing nothing (to see down) without holding a spot asset. As one of the broad derivatives to be used in the digital asset market, a contract of durability has flexible leverage mechanisms and diversified trading patterns that apply to multiple trading strategies. #### 1. Core features of sustainable contracts ***(1) No due date*** Unlike traditional futures, permanent contracts do not provide time for delivery and, subject to the fulfilment of the bond requirements, users can hold warehouse slots on a permanent basis. ***(2) Support for multi- and empty*** Do more (Long): Promising price increases, profiting from increases Empty (Short): expected price falls, profiting by falling Whether the market rises or falls, users can participate in the transaction. ***(3) Support for leverage trading*** Users can leverage to scale up transactions, such as 5x, 10x, 20x, etc. Note: Leverage magnifies returns. It also magnifies the risk of loss and implosion. (4) Financial rate mechanism As there is no maturity for the renewal of the contract, its price may deviate from the spot market. EX Through the financial rate mechanism, contract prices are brought as close as possible to the spot price, with multiple parties paying each other within a fixed period of time. #### 2. Main advantages of a sustainable contract (1) Participation in a transaction without holding a spot (2) Support for ready opening and siloing (3) Support for long-term sustainability (4) Useful for trends trading, hedges, arbitrage, etc. #### 3. Major risks to sustainable contracts Before participating in a transaction, please be aware of the following risks: ***(1) Leverage risk*** The higher the leverage, the greater the impact of price volatility on the position, the easier it is to trigger a forced levelling. ***(2) Market volatility risk*** The price of digital assets is highly volatile and is likely to rise or fall sharply in a short period of time. ***(3) Forced stabilization of risk*** When the account bond is insufficient, the system will be automatically flattened. ***(4) Cost of financial rates*** Additional costs may arise from long-term holding. #### 4. Applicable user instructions The contract of renewal is more appropriate: Users with some trade experience Users who understand leverage mechanisms Users capable of risk control EX recommends that: First-hand users should start with low leverage and small warehousing positions. ### II. Description of warehouse value #### 1 What is the value of the slot? The warehouse value is the total value of the current hold at mark price (Mark Price). Marked prices are used to reduce the impact of short-term market fluctuations on better judgement. #### 2. Calculation formula Silo value = number of silos x mark price #### 3. Example notes Assumptions: Number of warehouses held: Mark price: 60,000 USDT Then: Warehousing value = 134.5 x 60,000 = 30,000 USDT #### Notes 1\. The warehouse value changes in real time with the mark price 2\. The warehouse value is not equivalent to actual gains or losses 3\. Prices, bonds, etc. are calculated on that value ### III. Contractual transaction terminology 24h Data 24h barter Total number of contracts concluded in the last 24 hours. 24h Maximum price The highest market offer in the last 24 hours. 24h Minimum price The lowest market offer in the last 24 hours. A API Application programming interface (App registration programming Internet) for data interaction and trading between user programs and the NewCoin system. B BTCUSDT With USDT as a bond and settlement unit, BTC continues the contract transaction. Insurance fund It is used to fill the silo loss during the compulsory siloing process and to guarantee the stable operation of the system. The main source of the insurance fund is the remaining margin generated at the time of the settlement. Currency of quotation The currency units used for contract pricing (e.g. USDT) are used to calculate contract prices, warehouse values and gains and losses. Passive commission (Post Only) Additional options to the price limit list to ensure that the order is entered into only as a liquid provider and is automatically withdrawn if the order is made immediately. Mark Price Prices derived from spot index prices on multiple mainstream exchanges, combined with the base of financial rates, are used to calculate the balance between unrealized gains and losses and triggers. Anticipated price parity distance The maximum difference between the price of strong parity and the price of the current tag is expected to be used to indicate potential immediate levelling of risk for orders. C Warehouse deposit The total amount of the security required for the maintenance of the warehouse includes a provision for the initial bond and a flat charge. Trigger price Reference prices used to trigger high-level commissioning, such as letters of condition, cessation of profit and loss. Post-activated flat When the trigger condition is met, the system automatically submits a silo commission to close the current position. D Order execution policy Defines the parameters for the validity period of the order and the enforcement rules, such as GTC, IOC, FOK, etc. H Contract value The current position is nominal at a given price. Number of contracts Units measuring the size of the commissioning or warehousing position can be calculated by number of sheets (USDT) or currency. Rate of return The percentage return on warehouse position gains and losses relative to the initial bond. J Base currency Assets corresponding to the subject matter of the contract (e.g. BTC, ETH) are used to calculate the bonds, costs and gains and losses. Plan commission The system automatically submits a commission when the reference price (the latest price or mark price) meets the trigger conditions. Transaction costs Fees paid or received upon the conclusion of an order. Step bond As the size of the warehouse increases, it is necessary to start and maintain a risk control mechanism that increases the level of the margin. Transaction history Record the details of all settled orders, including transaction prices, fees and financial costs. king Opening price Average price of current warehouse space. Silo charges The system set aside or actually charged charges for the opening of the warehouse. L Done or cancelled immediately (IOC) The purchase order must be entered into immediately at a limited or better price, and the unsold portion will be cancelled. Cumulative realized gains and losses From the first transaction of the account, the cumulative results of all the settled gains and losses as well as the charges and fund costs. M Purchase price (Bid) The market is willing to buy the highest price for the contract. Buy into more (Long) Positions created as a result of anticipated price increases. Sale price (Ask) The market is willing to sell the minimum price of the contract. Short A warehouse set up in anticipation of falling prices. Target price Reference flat price based on expected return. P Flat price The average transaction price at warehouse level. Warehousing charges The system set aside or charged a handling fee for warehousing. I'm in a hurry. Actual gains and losses, net of fees, resulting from the levelling of positions. Average warehouse price Weighted average prices based on multiple opening orders. Insolvency prices When the warehouse deposit covers only the time-consuming price of the warehouse. The system is submitted for liquidation at this price. General commission (GTC) The order remains valid until it is fully concluded or cancelled manually by the user. Queen Initial bond The minimum security required for opening positions. Forced silo (Changping) When the bond is not sufficient to maintain the warehouse position, the system is based on a risk control mechanism whereby the mark price is automatically flat. All-ware deposit mode All available balances in the account are used as a guarantee against warehouse risk. S Depth weighted purchase/ sales price Weighted prices based on the depth of the impact of the cost of funds are used to calculate the cost of funds. Market depth Markets ' ability to reflect price stability when coping with large transactions. Market value commissioning Orders are entered into immediately at the best current market prices. Market price flat. After triggering the condition, the flat commission is executed at market value. Proceeds The amount of profit or loss on the warehouse position. Rate of return Percentage of position gains and losses relative to contract value. Double price mechanism A pricing system consisting of state-of-the-art and mark-up prices for risk control. Two-way hold. The holding of multiple and empty warehouses in the same contract is permitted. U UID Could not close temporary folder: %s W Maintenance of the bond The minimum level of security required to maintain warehouse space is not flat. Commission ID The only number corresponding to each successful commission. Commission bond Total amount of bonds occupied by all unpaid commissions. Commission list (order book) Electronic list of trade orders by price. Trust cost Includes initial deposits, warehouse charges and flat charges. Commission price The transaction price specified by the user in the price limit list. Entrust history Record all historical information submitted to the commission. Unrealized gains/losses Floating gains and losses based on current tag prices, excluding fees and financial costs. Fully concluded or cancelled (FOK) The purchase order must be closed in its entirety immediately, otherwise it will be cancelled as a whole and the partial settlement will not be allowed. X Limited commission. A commission with specified or better prices. Price-free. (c) The commissioning of a flat-priced commission. Y Price index Level of deviation of contract market prices relative to spot index prices. Realized gains and losses Actual gains and losses are recognized when the positions are flat. Z Just take it easy. Ensure that commissioning is used only to reduce warehouse space and does not increase the size of the warehouse. Index prices Reference prices based on weighted prices of multiple mainstream exchanges. Interruption Warender command to limit maximum loss of warehouse space. Looping Instructions to automatically level off when the intended profit is achieved. The warehouse deposit model. The bond for each warehouse position is independently calculated and the risk is not shared with other funds in the account. Funding rates Rates are calculated and settled on a regular basis to balance multi-space requirements. Financial costs The Platform is not involved in the collection of the cost of settlement between warehouse users based on the funding rate. Depth impact of financial costs The reference transaction depth used to calculate the weighted price of the financial rate. Automatic Warehousing Queue (ADL) In extreme cases, the system automatically reduces some of the positions according to the order of risk. ### IV. Description of warehouse/silo model #### 1. Basic description The warehouse/ warehouse is a warehouse management mechanism provided by EXBIT, which allows users to choose a different way of holding a warehouse according to their trading strategy. #### 2. The warehouse model The warehouse slots will be automatically merged under the same transaction in the same direction. Example: 100 USDTs More, 120 USDT. Eventually combined into 220 USDT multi-silo Characteristics Integrated warehouse management 4\. Automatic calculation of average warehouse prices 5\. Trends-appropriate transactions #### 3. Silo model Under the same deal, the new warehouse will exist independently. Characteristics 6\. Independence gains and losses per warehouse 7\. Disruption and loss may be set separately 8\. Short- and multi-strategized transactions ### Description of the full/silo model ***1 The warehouse-by-ware mode*** Each warehouse deposit is independent. Risk segregation The single silo doesn't affect the rest of the silo. ***2. Cross*** All warehouse shares. The profit-making position makes up for the loss. Risk concentration ***Use of recommendations*** Warehousing: fit for risk control Whole warehouse: trend-appropriate transactions ### VI. Index price statements #### 1 What are index prices? Index price (Index Price) is a reference price calculated by weighting prices on multiple mainstream exchanges and is used to reflect real market price levels. #### Role 9\. Preventing price anomalies on a single exchange 2 Reduced risk of error triggers 3 For funding rates #### 3. How can the risk of forced silos be reduced? To reduce the risk of detonation, it is recommended that you: 10\. Use of lower leverage 11\. Maintenance of adequate security 12\. Set-up losses 13\. Avoid silo operations 14\. Avoid high volatility 15\. Focus on tag prices 16\. Avoiding countervailing VIII. Batch build and cut-off #### VII. Description of the slide point #### One, what's a slide point? Slide points refer to the difference between the value of the purchase order and the price expected, often when the market is more volatile or under-liquid. #### Common causes 17\. High market volatility 18\. Inadequate depth 19\. The market list is quickly closed #### 3. How to lower the slide point? 20\. Use of restricted price lists 21\. Selecting high liquidity transactions 22\. Avoid violent behavior 23\. Distribution of large orders ### VIII. CONCLUSION OF PROCEEDINGS #### 1 What is the price limit list? The price limit list refers to the purchase or sale order at a price specified by the user. #### 2. Reasons for non-offer 24\. Prices not reached Inadequate liquidity 25\. Market volatility 26\. Large orders #### 3. Recommendations for optimization 27\. Adjusting prices closer to markets 28\. Split orders 29\. Use of market value lists ### VIII. Description of the mechanism #### 1. Trigger conditions When the bond is not sufficient to maintain the warehouse position, the system triggers the forced levelling. #### 2. Calculation logic Jingping is based on: 30\. Mark price Security 31\. Maintenance of the bond rate #### Annotations 32\. Strong parity as a risk reference Possible deviations from actual implementation 33\. Dynamics of flat prices under the whole-portment model ### Description of contractual fees During the course of the contract transaction, a certain percentage of the transaction fee will be charged depending on the actual conclusion of the order. Fees are incurred only when orders are made and deducted directly from the account balance, without prejudice to the security required for the opening of the warehouse. #### 1. Standards for handling fees Maker (shipping): Tucker (on the menu): #### Rules for calculating fees Contract charges are calculated on the basis of warehouse value (nominal value) and are not related to leverage multipliers. Formula: Fees = warehouse value x processing rate Fees = number of orders x price subject x process rate #### 3. Example notes Assumptions: Warehousing value: 100,000 USDT Leverage multiple: 10x Actual security: 10,000 USDT Then: Fees = 100,000 × #### Notes 34\. Transaction costs are not for leverage, but only for warehouse value 35\. Collected only when the deal is made, and there are no charges for non-offer orders 36\. Direct deduction of fees from account balances Thank you for using EXBIT Exchange! ### X. Contractual transaction rules Distinguished user: In order to safeguard a fair, open and fair trading environment and safeguard the interests of users, EXBIT sets out the Rules for Contract Transactions. Read carefully and understand fully before entering into a transaction. #### General provisions (1) These rules apply to all users of contractual transactions on the EXBIT Platform (2) Contract transactions are high-risk behaviour, with users taking the risk of transactions on their own (3) EXBIT have the right to adjust and publicize the rules in the light of market conditions and wind control needs #### Risk control and account management ***(1) Risk tips*** The risk of contractual transactions is high, and sharp price fluctuations may lead to the rapid depletion of bonds and even trigger forced stratification. ***(2) User responsibility*** Users should: Rational control of warehouse size Rational use of leverage Timely replenishment of security To reduce the blast risk. ***(3) Platform wind control measures*** EXBIT will provide real-time monitoring of account risks and take measures, including, but not limited to: Limiting or allowing only reduction Dynamically adjust wind control parameters Restrictions on transfer of assets Suspend transactions Freezing of accounts or cancellation of return home ***(4) Abnormality Identification*** The platform will identify abnormal arbitrage through the system, including but not limited to: Reimbursement fees I'm going home. It's a hedge. Grant arbitrage #### Description of the behaviour of the unusual transaction The following may be found to be in violation: HF brush list Yeah. AB warehouse operation Super-short-line unusual transactions Using low liquidity arbitrage Use system loopholes #### 4. HF brush identification 37\. arbitrage with a process fee mechanism Number of single-day transactions 50 Three, the silo cycle is clearly abnormal. #### Five, knock, hedge behavioral characteristics 38\. Multi-account-to-lock transactions 39\. Intensified two-way operation of single accounts 40\. Multi-account behaviour is highly consistent #### 6. Super-short-term transaction characteristics 41\. Warming in an extremely short time 42\. Operation is clearly regular. Three, single day, five super short transactions. #### 7. Other violations Where EXBIT determines that there is a risk that market equity may be compromised, it may be covered by wind controls. #### VIII. SPECIAL STATEMENTS 43\. The criteria in the rules are for reference only 44\. Actual judgement is based on system wind control 45\. Final authority to interpret rests with EX #### Risk tips Digital asset transactions are more volatile and contract transactions more risky. Please participate rationally according to your own risk tolerance. ### Risk tips Digital assets and contractual transactions are at high risk: Price volatility. Leverage magnifying risk There's a possibility of an explosion. Please trade rationally according to your own risk tolerance. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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