永续合约Pro

<p> </p>
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<div>
<table style="width: 100%;">
<colgroup>
<col style="width: 90px;">
<col style="width: 79px;">
<col style="width: 84px;">
<col style="width: 88px;">
<col style="width: 80px;">
<col style="width: 84px;">
<col style="width: 96px;">
</colgroup>
<tbody>
<tr>
<td>产品</td>
<td>利率</td>
<td>资金费率上限</td>
<td>资金费率上限</td>
<td>溢价指数上限</td>
<td>溢价指数下限</td>
<td>深度加权金额</td>
</tr>
<tr>
<td>BTCUSDT</td>
<td>0.0001</td>
<td>0.00375</td>
<td>-0.00375</td>
<td>0.0005</td>
<td>-0.0005</td>
<td>20000USDT</td>
</tr>
<tr>
<td>ETHUSDT</td>
<td>0.0001</td>
<td>0.0075</td>
<td>-0.0075</td>
<td>0.0005</td>
<td>-0.0005</td>
<td>20000USDT</td>
</tr>
<tr>
<td>SOLUSDT</td>
<td>0.0001</td>
<td>0.015</td>
<td>-0.015</td>
<td>0.0005</td>
<td>-0.0005</td>
<td>20000USDT</td>
</tr>
<tr>
<td>XRPUSDT</td>
<td>0.0001</td>
<td>0.0075</td>
<td>-0.0075</td>
<td>0.0005</td>
<td>-0.0005</td>
<td>20000USDT</td>
</tr>
<tr>
<td>LTCUSDT</td>
<td>0.0001</td>
<td>0.0075</td>
<td>-0.0075</td>
<td>0.0005</td>
<td>-0.0005</td>
<td>20000USDT</td>
</tr>
<tr>
<td>ADAUSDT</td>
<td>0.0001</td>
<td>0.0075</td>
<td>-0.0075</td>
<td>0.0005</td>
<td>-0.0005</td>
<td>20000USDT</td>
</tr>
</tbody>
</table>
</div>
<div class="ace-line ace-line old-record-id-T6bOdKaECosvwQx1HcllNaSCgog"> </div>
<div class="ace-line ace-line old-record-id-T6bOdKaECosvwQx1HcllNaSCgog">BTCC会根据市场情况对各项参数进行适当调整并更新到上方表格，恕不另行通知。</div>
<div class="ace-line ace-line old-record-id-PrQidHfx9opGphxWlxhltxzCgGh"> </div>
</div>

资金费率计算各项参数

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<h2 id="h_01JRSWHPCVCBG7QCN48F0T69GQ" class="heading-2 ace-line old-record-id-E5lEdf4bho3Z7ixNBH0l31iDgTh"> </h2>
<h2 id="h_01JRSE2ESYWDA3V11RVSR4JRGR" class="heading-2 ace-line old-record-id-E5lEdf4bho3Z7ixNBH0l31iDgTh">一、USDT本位永续合约简介</h2>
<p> </p>
<div class="ace-line ace-line old-record-id-RKFQdUKIDoZeeKxDsT4lVgz3gsQ">USDT本位永续合约是以USDT进行结算的数字货币合约产品，每一张合约代表一定数量的数字货币（例如BTCUSDT合约，每一张合约代表0.001BTC）。即所有USDT本位合约都使用计价币种 USDT 作为担保资产，用户只需要持有USDT即可参与各个品种合约的交易。</div>
<div class="ace-line ace-line old-record-id-RKFQdUKIDoZeeKxDsT4lVgz3gsQ"> </div>
<div class="ace-line ace-line old-record-id-CDJ6dFnQNoNaZYxJb5ZlEyDcgxc">投资者可以通过买入做多或卖出做空合约来获取数字货币价格上涨或下跌带来的收益。合约杠杆倍数为1～125倍。<strong>以BTCUSDT合约为例，要素如下：</strong>
</div>
<div>
<table style="width: 100%;">
<colgroup>
<col style="width: 140px;">
<col style="width: 344px;">
</colgroup>
<tbody>
<tr>
<td>要素</td>
<td>详情</td>
</tr>
<tr>
<td>合约标的</td>
<td>BTC/USDT 指数</td>
</tr>
<tr>
<td>结算货币</td>
<td>USDT</td>
</tr>
<tr>
<td>合约面值</td>
<td>0.001 BTC</td>
</tr>
<tr>
<td>报价单位</td>
<td>按照 1 BTC 的 USDT 价格报价</td>
</tr>
<tr>
<td>最小变动价位</td>
<td>0.1</td>
</tr>
<tr>
<td>杠杆倍数</td>
<td>1~125 倍</td>
</tr>
<tr>
<td>交易时间</td>
<td>7*24 小时</td>
</tr>
<tr>
<td>资金费率时间</td>
<td>香港时间每日08:00、16:00、24:00</td>
</tr>
<tr>
<td>手续费率</td>
<td>taker 0.045%  ， maker 0.02%</td>
</tr>
</tbody>
</table>
</div>
<h2 id="h_01JRYPMB6087472Q5Q1Y0Y9ZTM" class="heading-2 ace-line old-record-id-KQvndTCtmosw4zxBxOtlx7iJgEc"> </h2>
<h2 id="h_01JRSE2ESY2SHG0XVGQRDN1EW1" class="heading-2 ace-line old-record-id-KQvndTCtmosw4zxBxOtlx7iJgEc">二、产品特点</h2>
<p> </p>
<div class="ace-line ace-line old-record-id-MWrDdIU1WoQ8ZzxyA1zlcQEZgQe">(1) USDT本位合约以USDT作为结算货币。典型用户群体为法币本位用户，符合该类用户对于低交易成本、计算简单的要求。</div>
<div class="ace-line ace-line old-record-id-MWrDdIU1WoQ8ZzxyA1zlcQEZgQe"> </div>
<div class="ace-line ace-line old-record-id-DemYduHaTo5Taexl93RlAQd1gJb">(2) 到期日永续合约没有到期交割日，永不到期。</div>
<div class="ace-line ace-line old-record-id-DemYduHaTo5Taexl93RlAQd1gJb"> </div>
<div class="ace-line ace-line old-record-id-ScORd9Cr8oUcfMxX49OlUVfYgBc">(3) 指数价格制度：USDT保证金合约采用相应标的的USDT指数。为保证现货指数价格合理反映每个币种公允的现货市场价格，BTCC针对每个合约币种选择3家以上主流交易所的币对作为指数权重成分，并设计了异常处理逻辑，保证单个交易所价格出现大幅偏离时，指数波动在正常范围内。</div>
<div class="ace-line ace-line old-record-id-ScORd9Cr8oUcfMxX49OlUVfYgBc"> </div>
<div class="ace-line ace-line old-record-id-FKa9dcyU4ok1VrxpFqPlMTIDg1e">(4) 限价制度：BTCC根据现货价格和上一分钟合约价格灵活调整下单价格范围，在不影响投资者正常下单的前提下，防止不法投资者恶意砸盘制造爆仓。</div>
<div class="ace-line ace-line old-record-id-FKa9dcyU4ok1VrxpFqPlMTIDg1e"> </div>
<div class="ace-line ace-line old-record-id-XHNpd9xzEo2kkYxyzkClS3QPgxb">(5) 标记价格制度：BTCC在合约市场爆仓机制基础上进行调整，在价格极度波动时将参考标记价格进行爆仓判断，防止投资者因为成交价格异常的单笔交易而发生爆仓，进一步降低了不法投资者恶意砸盘制造爆仓的可能性。</div>
<div class="ace-line ace-line old-record-id-XHNpd9xzEo2kkYxyzkClS3QPgxb"> </div>
<div class="ace-line ace-line old-record-id-DfqRdDMGToGyQsxNGLWlBPjng3g">(6) 阶梯维持保证金率制度：维持保证金率指用户维持当前仓位所需的最低保证金率。当保证金率低于维持保证金率+平仓手续费率时，即触发强制平仓或强制部分减仓。BTCC实行阶梯维持保证金率制度，即用户的持仓仓位越大，维持保证金率越高，用户可选的最高杠杆倍数越低。</div>
<div class="ace-line ace-line old-record-id-DfqRdDMGToGyQsxNGLWlBPjng3g"> </div>
<div class="ace-line ace-line old-record-id-OkD6dtb55o7oVtxVVN5l9bAYgD3">(7) 资金费用机制：由于没有到期交割日，永续合约需要通过资金费用机制来使得合约价格锚定现货价格。资金费用每8小时收取一次，分别为香港时间每日08:00、16:00和24:00。只有在该时刻持有仓位时，用户才需要支付或收取资金费用。如果在费用收取之前平仓，则不需要支付资金费用。</div>
<div class="ace-line ace-line old-record-id-OkD6dtb55o7oVtxVVN5l9bAYgD3"> </div>
<div class="ace-line ace-line old-record-id-CEJtdXVvxoOaqHxH0Sol5vbcglb">(8) 买卖模式和开平模式：</div>
<div class="ace-line ace-line old-record-id-UZEydM4ZaoNVE3xkTV8l7OtWgOc">买卖模式下，每个合约在一个保证金模式下只有一个持仓方向，多仓或空仓。例如：用户当前持有 10 张 BTCUSDT永续多仓仓位，此时 5 张的卖出挂单成交，用户的仓位将会变成 5 张的多仓仓位。</div>
<div class="ace-line ace-line old-record-id-T1SvdLEk4ow56rxByyglwIDNgZd">开平模式下，每个合约在一个保证金模式下能同时有多仓和空仓。例如：用户当前持有 10 张 BTCUSDT永续多仓仓位，此时 5 张的卖出挂单成交，用户会持有 10 张多仓和 5 张空仓的仓位。</div>
<div class="ace-line ace-line old-record-id-NFkTdC2eyoYWu4xW7r3lknJ0gme"> </div>
</div>

USDT本位永续合约介绍

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<h2 id="h_01JRSNN27SXJWE5A2B5YX57E6G" class="heading-2 ace-line old-record-id-Vw0MdDPkLoPbH0xjuuulUcpeg2f"> </h2>
<h2 id="h_01JRSHQGXBJ4CD5X1BA3473EKN" class="heading-2 ace-line old-record-id-Vw0MdDPkLoPbH0xjuuulUcpeg2f">永续合约Pro简介</h2>
<div class="ace-line ace-line old-record-id-HrgMdRIsKoPeg1xzq1dl8uw0gUf"> </div>
<div class="ace-line ace-line old-record-id-HrgMdRIsKoPeg1xzq1dl8uw0gUf">BTCC交易平台，用户需要先把资产转入合约账户Pro中，即可开启体验新版合约Pro交易。同时，用户在新版合约Pro产生的交易数据、资产数据是与旧合约相互隔离，且互不影响。用户可以在新合约Pro中使用全仓或逐仓交易模式。</div>
<div class="ace-line ace-line old-record-id-HrgMdRIsKoPeg1xzq1dl8uw0gUf"> </div>
<h3 id="h_01JRSHQGXCPMERY3GCASSH5V0Y" class="heading-3 ace-line old-record-id-PJeGdBA3Dox8XrxFKRalzQaygLf">什么是全仓模式？</h3>
<div class="ace-line ace-line old-record-id-SXr4daiHuoNZKoxlzyVl9Z0cgKg">全仓模式：使用同一币种资产进行结算的所有交易品种可共享保证金余额。即结算币种相同的合约、杠杆的全仓仓位之间，共用保证金、盈亏可互相抵消。</div>
<div class="ace-line ace-line old-record-id-SXr4daiHuoNZKoxlzyVl9Z0cgKg"> </div>
<h3 id="h_01JRSNN27SZQ1T7KCND4R5XKWW" class="ace-line ace-line old-record-id-SXr4daiHuoNZKoxlzyVl9Z0cgKg">什么是逐仓模式？</h3>
<div class="ace-line ace-line old-record-id-KBRJdmIKLodWu8xTT4OlReyagpe">逐仓模式：各仓位的保证金与盈亏均单独核算，各仓位的风险与收益独立，盈亏自担。若发生强制平仓时，只会将该仓位下的保证金全部损失掉，不会形成较大的损失。即每个仓位的保证金独立计算，强制平仓时，最大损失仅限于该仓位的保证金。</div>
<div class="ace-line ace-line old-record-id-KBRJdmIKLodWu8xTT4OlReyagpe"> </div>
<div class="ace-line ace-line old-record-id-KBRJdmIKLodWu8xTT4OlReyagpe"> </div>
<h2 id="h_01JRSHQGXCXYZ1MV6TSKJBWZKF" class="heading-2 ace-line old-record-id-DckGdBUwZogxgHxBBVHlDxBfgdh">
<strong>合约</strong><strong>P</strong><strong>ro账户资产字段</strong>
</h2>
<div>
<table style="width: 100%;">
<colgroup>
<col style="width: 109px;">
<col style="width: 493px;">
</colgroup>
<tbody>
<tr>
<td>术语</td>
<td>解释</td>
</tr>
<tr>
<td>总权益</td>
<td>
<p>账户中某个币种资产在全仓账户中和逐仓仓位中的权益。</p>
<p>总权益 = 该币种账户内余额 + 全仓仓位收益 + 逐仓仓位保证金余额 + 逐仓仓位收益</p>
</td>
</tr>
<tr>
<td>
<p>可用保证金</p>
<p>（全仓）</p>
</td>
<td>
<p>账户中某个币种资产下当前还可用于永续合约开全仓订单的保证金数量。</p>
<p>可用保证金 = 该币种账户内余额+ ∑全仓仓位未实现盈亏</p>
</td>
</tr>
<tr>
<td>盈亏</td>
<td>∑全仓仓位未实现盈亏+∑逐仓仓位未实现盈亏</td>
</tr>
<tr>
<td>可转</td>
<td>
<p>未实现盈亏(全仓)&gt;0, 可转=可用保证金 - 未实现盈亏(全仓)）</p>
<p>未实现盈亏(全仓)&lt;0, 可转=可用保证金。</p>
</td>
</tr>
<tr>
<td>保证金率</td>
<td>(该币种账户内余额+Σ多个全仓仓位未实现盈亏）/ Σ多个全仓仓位[(数量*标记价格*（维持保证金率+强平费率)]</td>
</tr>
<tr>
<td>维持保证金</td>
<td>∑全仓仓位维持保证金+∑逐仓仓位维持保证金</td>
</tr>
<tr>
<td>可用保证金（逐仓）</td>
<td>
<p>切换逐仓时，可用于开仓逐仓仓位的金额。</p>
<p>可用保证金(逐仓)= Max（0,(可用保证金(全仓) - ∑全仓仓位未实现盈亏))</p>
<p>注：该字段用于下单计算，在资产字段中不显示。</p>
</td>
</tr>
</tbody>
</table>
</div>
<h2 id="h_01JRVJRHGEGGJZMK8S7Y5GGS87" class="heading-2 ace-line old-record-id-Kp6CdF9v4oF46XxC9Bol5iBOgKc"> </h2>
<h2 id="h_01JRSHQGXCXCWACT770NX5A7X0" class="heading-2 ace-line old-record-id-Kp6CdF9v4oF46XxC9Bol5iBOgKc"><strong>交易规则说明</strong></h2>
<div class="ace-line ace-line old-record-id-LnEBd756eotd9Zx2y83lzGd2gDc"> </div>
<div class="ace-line ace-line old-record-id-LnEBd756eotd9Zx2y83lzGd2gDc"><strong>合约全仓下单校验规则</strong></div>
<p>当用户在全仓模式下进行永续合约交易时，账户中可用保证金应大于或等于该笔订单所需的保证金金额。</p>
<h3 id="h_01JRSX2MDPJYX7ZA4RGD12HMV3" class="heading-3 ace-line old-record-id-PV6ndsEORos1U7xmUa6lQJ5ggNb"> </h3>
<h3 id="h_01JRSHQGXC2853VDY6B2ZP2BWJ" class="heading-3 ace-line old-record-id-PV6ndsEORos1U7xmUa6lQJ5ggNb">全仓永续</h3>
<div class="ace-line ace-line old-record-id-XlN0dnhXLoBHoXxoSsellqmNgHf">在合约Pro模式下，永续合约交易支持单向持仓和双向持仓两种持仓模式。</div>
<div class="ace-line ace-line old-record-id-XlN0dnhXLoBHoXxoSsellqmNgHf">
<div data-page-id="GS4qd4zsZoBSeGxFQOXlaLVQgRb" data-lark-html-role="root" data-docx-has-block-data="false">
<h4 id="h_01JRVJSBGNMRV8FGDR1D7SEZC6" class="heading-4 ace-line old-record-id-TQOVdohwoo3fxIxWyXjlGb27gtb"> </h4>
<p id="h_01JRVJS3ZMB3T595CX6SEMJBVK" class="heading-4 ace-line old-record-id-TQOVdohwoo3fxIxWyXjlGb27gtb">仓位字段：</p>
</div>
</div>
<div class="ace-line ace-line old-record-id-XlN0dnhXLoBHoXxoSsellqmNgHf"> </div>
<div class="ace-line ace-line old-record-id-DMA9dSkLgoY9lnxQRBUlwcEbgNb">
<div>
<table style="width: 100%;">
<colgroup>
<col style="width: 103px;">
<col style="width: 499px;">
</colgroup>
<tbody>
<tr>
<td>术语</td>
<td>解释</td>
</tr>
<tr>
<td>持仓量</td>
<td>对于单向持仓模式，多仓持仓量为正数，空仓持仓量为负数</td>
</tr>
<tr>
<td>开仓均价</td>
<td>
<p>U本位：</p>
<p>(原持仓数 * 原持仓均价 + 新开仓数 *新开仓成交均价) / (原持仓数 + 新开仓数）</p>
</td>
</tr>
<tr>
<td>收益</td>
<td>
<p>当前仓位未实现盈亏</p>
<p>1. USDT保证金合约</p>
<p>多仓收益 = 面值 * |张数| * 合约乘数 *（标记价格 - 开仓均价）</p>
<p>空仓收益 = 面值 * |张数| * 合约乘数 *（开仓均价 - 标记价格）</p>
</td>
</tr>
<tr>
<td>收益率</td>
<td>收益 / 开仓保证金</td>
</tr>
<tr>
<td>初始保证金</td>
<td>
<p>1. USDT保证金合约</p>
<p>初始保证金 = 面值 * |张数| * 合约乘数 * 标记价格／杠杆倍数</p>
</td>
</tr>
<tr>
<td>维持保证金</td>
<td>
<p>1. USDT保证金合约</p>
<p>维持保证金 = 面值 * |张数| * 合约乘数 * 仓位档位维持保证金率 * 标记价格</p>
</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>

合约Pro全仓/逐仓交易规则

<div data-page-id="HQoRdzXUaovUq5xrNMqlGW8dgIg" data-lark-html-role="root" data-docx-has-block-data="true">
<h1 id="h_01JRSMMCA9PPBQZT0DN3BRFTYK" class="ace-line ace-line old-record-id-K310dxv0ioXbSmx3mw6lPjuNgeh">USDT本位永续合约Pro交易指南</h1>
<p> </p>
<h2 id="h_01JRSN0G1BRTC74B42W5DA0RW5" class="ace-line ace-line old-record-id-K310dxv0ioXbSmx3mw6lPjuNgeh">一、向合约账户Pro充值（划转）</h2>
<div class="ace-line ace-line old-record-id-K310dxv0ioXbSmx3mw6lPjuNgeh">想要充值合约账户Pro，您首先需要确保个人钱包账户中有可划转的资金（USDT）。进入个人【资产】-【划转】页面，将钱包账户资金划转至合约账户Pro中。</div>
<div class="image-uploaded gallery old-record-id-SOCadcLIVoaN61xgyo0lFwEFg40" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"72590099-8d4d-46d1-9e2a-b9ffc2858493","height":424.4349376114082,"width":482,"currHeight":424.4349376114082,"currWidth":482,"natrualHeight":988,"natrualWidth":1122,"pluginName":"imageUpload","scale":0.4295900178253119,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FKlidbSeRNorMAcxk0JllS1s3g4g%2F%3Fpreview_type%3D16","file_token":"KlidbSeRNorMAcxk0JllS1s3g4g","image_type":"image/png","size":83067,"comments":[]}]}'><img src="https://btccexchange.zendesk.com/hc/article_attachments/45741475224985" alt="1.png" width="474" height="417"></div>
<div class="image-uploaded gallery old-record-id-SOCadcLIVoaN61xgyo0lFwEFg40" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"72590099-8d4d-46d1-9e2a-b9ffc2858493","height":424.4349376114082,"width":482,"currHeight":424.4349376114082,"currWidth":482,"natrualHeight":988,"natrualWidth":1122,"pluginName":"imageUpload","scale":0.4295900178253119,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FKlidbSeRNorMAcxk0JllS1s3g4g%2F%3Fpreview_type%3D16","file_token":"KlidbSeRNorMAcxk0JllS1s3g4g","image_type":"image/png","size":83067,"comments":[]}]}'> </div>
<h2 id="h_01JRSN0G1BJB5E37HMQF74FW9X" class="image-uploaded gallery old-record-id-SOCadcLIVoaN61xgyo0lFwEFg40" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"72590099-8d4d-46d1-9e2a-b9ffc2858493","height":424.4349376114082,"width":482,"currHeight":424.4349376114082,"currWidth":482,"natrualHeight":988,"natrualWidth":1122,"pluginName":"imageUpload","scale":0.4295900178253119,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FKlidbSeRNorMAcxk0JllS1s3g4g%2F%3Fpreview_type%3D16","file_token":"KlidbSeRNorMAcxk0JllS1s3g4g","image_type":"image/png","size":83067,"comments":[]}]}'>二、全仓保证金交易模式</h2>
<p class="heading-2 ace-line old-record-id-NgBGdZ2EXo0MF3xYAC5lNdeTgRg">1、进入【合约】——【USDT永续合约Pro】页面，选择某一合约币种。</p>
<div class="image-uploaded gallery old-record-id-Kg1KduS4CoqOCJxPjBHla2dRgke" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"1d639293-01fb-4693-bb4e-66a4febf60d1","height":586,"width":1600,"currHeight":586,"currWidth":1600,"natrualHeight":586,"natrualWidth":1600,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FTZVYbZXTbone25xi8mKl67DugSf%2F%3Fpreview_type%3D16","file_token":"TZVYbZXTbone25xi8mKl67DugSf","image_type":"image/png","size":293725,"comments":[]}]}'><img src="https://btccexchange.zendesk.com/hc/article_attachments/45741475226649" alt="2.png"></div>
<div class="ace-line ace-line old-record-id-BEE0dEYWToYDD7xdGL3lutBhggf">2、全仓模式中，设置杠杆。在交易面板中，选择【全仓】模式，根据自己的风险承受能力和交易策略调整杠杆倍数。</div>
<div class="ace-line ace-line old-record-id-BEE0dEYWToYDD7xdGL3lutBhggf">3、设置保证金数量。</div>
<div class="ace-line ace-line old-record-id-BEE0dEYWToYDD7xdGL3lutBhggf">4、开仓。根据对加密货币价格上涨或下跌的判断来开多或开空。还可以使用限价单或市价单来执行交易。</div>
<div class="image-uploaded gallery old-record-id-AUJidaRLxoAtv3xw3XllLmungsZ" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"082e6daf-ad3b-4f61-acae-1e9651cf6a39","height":544.1721854304636,"width":332,"currHeight":544.1721854304636,"currWidth":332,"natrualHeight":990,"natrualWidth":604,"pluginName":"imageUpload","scale":0.5496688741721855,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FLZhQbkdsAorJ3mxcnrjlE2gzgth%2F%3Fpreview_type%3D16","file_token":"LZhQbkdsAorJ3mxcnrjlE2gzgth","image_type":"image/png","size":64588,"comments":[]}]}'><img src="https://btccexchange.zendesk.com/hc/article_attachments/45741465568153" alt="3.png" width="279" height="457"></div>
<div class="ace-line ace-line old-record-id-W1UDdwcX2otWlyxNSjAls39QgVh">全仓的优势在于，共用保证金，降低市场波动下的平仓风险。提高资金利用率，减少追加保证金需求。一个仓位的损失可被其他仓位盈利抵消，有效分散风险。</div>
<h2 id="h_01JRSP4X8WXHXTNXJBZYKRVT1T" class="ace-line ace-line old-record-id-W1UDdwcX2otWlyxNSjAls39QgVh"> </h2>
<h2 id="h_01JRSMNYWNYWWZ5PY3ZP5CVYAK" class="ace-line ace-line old-record-id-W1UDdwcX2otWlyxNSjAls39QgVh">三、逐仓保证金交易模式</h2>
<div class="ace-line ace-line old-record-id-W1UDdwcX2otWlyxNSjAls39QgVh">在USDT永续合约Pro交易时，选择【逐仓】模式，调整杠杆倍数，设置保证金，根据对加密货币价格的判断，进行开仓即可。</div>
<div class="image-uploaded gallery old-record-id-SstsdnibUoV02gxTMmElAV1Qggh" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"b4b295d5-ef8d-4e57-985b-630cccabef76","height":562.087542087542,"width":339.99999999999994,"currHeight":562.087542087542,"currWidth":339.99999999999994,"natrualHeight":982,"natrualWidth":594,"pluginName":"imageUpload","scale":0.5723905723905723,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FL9DfbtAWVoZfuDxNClalgCIhghh%2F%3Fpreview_type%3D16","file_token":"L9DfbtAWVoZfuDxNClalgCIhghh","image_type":"image/png","size":66772,"comments":[]}]}'><img src="https://btccexchange.zendesk.com/hc/article_attachments/45741465569689" alt="4.png" width="273" height="452"></div>
<div class="ace-line ace-line old-record-id-ODV7dPeCWooxxqxIGRalFqUdgIf">逐仓的优势在于，合约损失仅限于该逐仓仓位，不会影响其他交易。交易者可以更好的控制个人仓位，交易者还可以根据自己的风险承受能力，将特定的保证金金额配置到不同的仓位。</div>
<div class="ace-line ace-line old-record-id-ODV7dPeCWooxxqxIGRalFqUdgIf">了解更多请查看<span class="mention-link_https%3A%2F%2Fhfzczaodqgf.sg.larksuite.com%2Fwiki%2FECfyweFwPitttokV7wAl2SCFgmg%3Ffrom%3Dfrom_copylink mention-token_ECfyweFwPitttokV7wAl2SCFgmg mention-type_16 mention-uuid_WKA8uF6VMWFU-4 mention-custom-icon-info_%7B%22type%22%3A0%2C%22key%22%3A%22%22%2C%22obj_type%22%3A22%2C%22file_type%22%3Anull%2C%22token%22%3A%22VIlpdWyXio7jqMxZIpolzpyIgbd%22%2C%22version%22%3A225%7D" data-inline-type="mention_doc"><a href="https://www.btcc.com/zh-CN/support-center/detail/45738686814745" data-href="https://hfzczaodqgf.sg.larksuite.com/wiki/ECfyweFwPitttokV7wAl2SCFgmg?from=from_copylink">合约Pro保证金计算 </a></span>
</div>
<h2 id="h_01JRSP4X8XG2Z7AWP1RE54ZD62" class="ace-line ace-line old-record-id-ODV7dPeCWooxxqxIGRalFqUdgIf"> </h2>
<h2 id="h_01JRSMSMFPEGJY26PBMPQFZA1G" class="ace-line ace-line old-record-id-ODV7dPeCWooxxqxIGRalFqUdgIf">四、单、双向持仓模式</h2>
<div class="ace-line ace-line old-record-id-ODV7dPeCWooxxqxIGRalFqUdgIf">用户使用全仓或逐仓永续时，都同时支持双向持仓和单向持仓两种交易模式。<strong>USDT永续合约Pro中，默认的仓位模式为双向持仓。</strong>
</div>
<div class="ace-line ace-line old-record-id-JJa7dfdOOog9cKxz5t3lcBS7gDh">在合约Pro交易面板中，点击右上角—【交易设定】，进行仓位模式切换。</div>
<div class="image-uploaded gallery old-record-id-YEiQdVd8so55YDxKm3vlbjzagmd" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"65bab2af-cdeb-4840-bb83-ac796643f425","height":509.2495867768595,"width":664,"currHeight":509.2495867768595,"currWidth":664,"natrualHeight":928,"natrualWidth":1210,"pluginName":"imageUpload","scale":0.5487603305785124,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FGBVzbZEKRoURhCxLhUZlSauagid%2F%3Fpreview_type%3D16","file_token":"GBVzbZEKRoURhCxLhUZlSauagid","image_type":"image/png","size":101371,"comments":[]}]}'><img src="https://btccexchange.zendesk.com/hc/article_attachments/45741475242777" alt="5.png"></div>
<div class="ace-line ace-line old-record-id-NIl8dPCrRoK4xUxKLMflAk74gBd">双向持仓模式下，交易者可以同时持有同一个合约的多空两个方向的仓位。交易者对某种资产长期看涨、短期看跌时，可以使用此模式。使用双向持仓模式，快速做空不会影响多头头寸。</div>
<div class="ace-line ace-line old-record-id-NIl8dPCrRoK4xUxKLMflAk74gBd"> </div>
<div class="ace-line ace-line old-record-id-JKdHd5XDKoV8pgxpOj1lltYggRe">单向持仓模式下，交易者可以简单通过买入/卖出方式进行下单交易，此模式下仅持有单边仓位。也就是说，该模式下，一个合约交易对只能持有一个方向的仓位，因此不同方向的仓位会相互抵消，从而达到不同方向仓位合并的效果。</div>
<div class="ace-line ace-line old-record-id-D2QHdRPLNokSQkx8qHbldEVLgbh">了解更多请查看<span class="mention-link_https%3A%2F%2Fhfzczaodqgf.sg.larksuite.com%2Fwiki%2FO5gsw9aQii9NSPkq4JllkdhSgug%3Ffrom%3Dfrom_copylink mention-token_O5gsw9aQii9NSPkq4JllkdhSgug mention-type_16 mention-uuid_BOwIc9ly18fL-5 mention-custom-icon-info_%7B%22type%22%3A0%2C%22key%22%3A%22%22%2C%22obj_type%22%3A22%2C%22file_type%22%3Anull%2C%22token%22%3A%22AmzidrsunoEEopxR4XClYzPSgwg%22%2C%22version%22%3A221%7D" data-inline-type="mention_doc"><a href="https://www.btcc.com/zh-CN/support-center/detail/45740277581721" data-href="https://hfzczaodqgf.sg.larksuite.com/wiki/O5gsw9aQii9NSPkq4JllkdhSgug?from=from_copylink">合约Pro盈亏计算</a></span>
</div>
<div class="ace-line ace-line old-record-id-SivrdEqhtoRNH6xngwslwaXLgpf"> </div>
</div>
<p> </p>
<p> </p>

合约Pro交易指南

<h3 id="h_01JRSM6B00ZJKBEA53T7NT5PN6">什么是保证金？</h3>
<p> </p>
<p>在数字货币合约市场上，交易者只需根据合约价格，按一定比率交纳少量资金作为履行合约的财力担保，便可参与合约的买卖，这种资金就是数字货币合约保证金。</p>
<p> </p>
<p>在BTCC的USDT永续合约Pro中，用户可以在逐仓保证金模式或全仓保证金模式下进行交易。对仓位保证金和可用资产都有不同的处理方式，用户可以根据自己的交易策略或风险偏好来选择。</p>
<p> </p>
<h3 id="h_01JRSM6X0CM93KSAGTJA567JS8">保证金如何计算？</h3>
<p> </p>
<p>BTCC提供两种保证金制度，全仓保证金与逐仓保证金。</p>
<p>1. 在全仓模式下，用户全仓保证金账户里所有的可用资金都视作可用保证金。</p>
<p>仓位保证金计算</p>
<ul>
<li>USDT本位合约保证金计算方式： 初始保证金 = 面值 * |张数| * 合约乘数 * 标记价格／杠杆倍数，初始保证金将随交易币种价格变化而变动。</li>
</ul>
<p>2. 在逐仓模式下，各个仓位单独核算保证金，盈亏互不影响。</p>
<ul>
<li>USDT本位合约保证金计算方式： 开仓保证金= 面值 * |张数| * 合约乘数 * 开仓均价／杠杆倍数，初始保证金固定不变。     </li>
</ul>
<h3> </h3>
<h3 id="h_01JRSM9NYCH2KANVKKY38DZ1RE">保证金与杠杆的关系</h3>
<p>杠杆一种常见金融交易制度，即保证金制度。“杠杆”使投资者可交易金额被放大的同时，也使投资者获得的收益和承担的风险加大了。</p>
<p>以全仓为例，当用户开多或开空一定数量的仓位时，初始保证金 = 仓位价值 / 所选杠杆倍数</p>
<p>例如： USDT本位合约 假设当前 BTC 价格为 10,000 USDT/BTC，用户希望使用 10 倍杠杆开多 1 BTC 等值的永续合约，用户开多张数 = 开多 BTC 数量 / 面值=1/0.0001=10,000张。</p>
<p>初始保证金 = 面值*张数*BTC 价格/杠杆倍数=0.0001*10,000*10,000/10=1,000USDT</p>
<h3> </h3>
<h3 id="h_01JRSMB09BHZXWCTV91ZTYB2GV">保证金率</h3>
<p>维持保证金：用户维持当前仓位所需的最低保证金</p>
<p>1. 全仓</p>
<p>仓位保证金率 = (保证金余额 + 收益) / Σ(面值 * |张数| * 标记价格 * (维持保证金 + 强平费率))<br>若存在多个品种的的全仓仓位，则对其所需维持保证金与强平手续费进行求和作分子。</p>
<p> </p>
<p>2. 逐仓</p>
<p>仓位保证金率 = (保证金余额 + 收益) / (面值 * |张数| * 标记价格 * (维持保证金 + 强平费率))<br>每个仓位独立计算保证金率，互不影响。</p>
<h3> </h3>
<h3 id="h_01JRSMCHBPSS343W2H2KDN441G">什么是追加保证金？</h3>
<p>追加保证金为逐仓保证金模式下独有。用户可以增加特定仓位的保证金，自主控制风险。</p>
<h3> </h3>
<h3 id="h_01JRSMCW6YZ7EHKC5QSNFQ3ET5">持仓杠杆倍数调整</h3>
<p>BTCC数字资产合约提供持仓杠杆调整的功能。当用户希望调高杠杆时，系统检测调整后的杠杆倍数小于当前张数所处档位的最大杠杆倍数时，即可调整成功。调整后，当前仓位开仓所需保证金会降低。当用户调低杠杆时，持仓所需保证金会增加，当系统检测账户中有足够的可用余额可以追加时，持仓杠杆倍数即可调整成功。</p>
<p> </p>
<p><strong>免责声明</strong></p>
<p>此内容仅供参考。不提供任何投资、税务或法律建议，也不应被视为购买、出售、持有或提供任何与数字资产有关的服务的要约。持有数字资产涉及高风险，可能会大幅波动，您应根据自己的财务状况，仔细考虑交易或持有数字资产是否适合您，尤其是在考虑使用杠杆的情形。有关您的具体情况，请咨询您的法律/税务/投资专业人士。请您自行负责了解和遵守当地的有关适用法律和法规。</p>

合约Pro保证金计算

<div data-page-id="AmzidrsunoEEopxR4XClYzPSgwg" data-lark-html-role="root" data-docx-has-block-data="true">
<h2 id="h_01JRSNX1HXW8TZXVQ30CSAVH2B"> </h2>
<h2 id="h_01JRSNWG7B227HJB6017DBRXXB"><strong>一、单币种保证金模式——全仓</strong></h2>
<p> </p>
<p class="ace-line ace-line old-record-id-OKKIdgAgMo4XGfxKl84lOZqlgAd">1）开平仓模式（双向持仓）</p>
<p class="image-uploaded gallery old-record-id-F7ZfdF62Topa6uxsmlulmCoAgJe" style="text-align: center;" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"28f1a554-48bd-4711-a025-75231a5a4c7e","height":396,"width":2270,"currHeight":396,"currWidth":2270,"natrualHeight":396,"natrualWidth":2270,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FUMlJbyMjdoE7pGx6Ajelb6DMgaf%2F%3Fpreview_type%3D16","file_token":"UMlJbyMjdoE7pGx6Ajelb6DMgaf","image_type":"image/png","size":124358,"comments":[]}]}'><img src="https://btccexchange.zendesk.com/hc/article_attachments/45743629797145" alt="6.png"></p>
<p class="ace-line ace-line old-record-id-JiDidmqktoTz06xJoqulj3EKgrb"> </p>
<p class="ace-line ace-line old-record-id-JiDidmqktoTz06xJoqulj3EKgrb">2）买卖模式（单向持仓）</p>
<p class="image-uploaded gallery old-record-id-MHZydWQ5coBhgtxriX2lXdx1gYg" style="text-align: center;" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"db2a30c2-ef29-416f-ba16-2665c608186f","height":258,"width":2258,"currHeight":258,"currWidth":2258,"natrualHeight":258,"natrualWidth":2258,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FQdBBbOaMbo62mlx6KmvlB4t7guf%2F%3Fpreview_type%3D16","file_token":"QdBBbOaMbo62mlx6KmvlB4t7guf","image_type":"image/png","size":73606,"comments":[]}]}'><img src="https://btccexchange.zendesk.com/hc/article_attachments/45743629799193" alt="7.png"></p>
<p class="undefined" data-type="image"> </p>
<div>
<table style="width: 100%;">
<colgroup>
<col style="width: 97px;">
<col style="width: 505px;">
</colgroup>
<tbody>
<tr>
<td>名词</td>
<td>解释</td>
</tr>
<tr>
<td>持仓量</td>
<td>您仓位持有的合约、数字货币或USDT</td>
</tr>
<tr>
<td>可平量</td>
<td>可平量 = 持仓量 - 平仓挂单占用仓位数量</td>
</tr>
<tr>
<td>浮动收益</td>
<td>
<p>当前仓位未实现盈亏</p>
<p>1）USDT保证金合约</p>
<p>多仓收益 = 持仓量 *（标记价格 - 开仓均价）</p>
<p>空仓收益 = 持仓量 *（开仓均价 - 标记价格）</p>
</td>
</tr>
<tr>
<td>收益率</td>
<td>收益 / 开仓保证金</td>
</tr>
<tr>
<td>初始保证金</td>
<td>持仓量 * 标记价格／杠杆倍数</td>
</tr>
<tr>
<td>维持保证金</td>
<td>持仓量 * 维持保证金率 * 标记价格</td>
</tr>
<tr>
<td>保证金</td>
<td>持仓量 * 标记价格 / 杠杆</td>
</tr>
<tr>
<td>预估强平价</td>
<td>
<p>1）USDT保证金合约</p>
<p>多仓预估强平价 = (保证金余额 - 面值 * |张数| * 开仓均价) / (面值 * |张数| * (维持保证金率 + 强平费率 - 1))</p>
<p>空仓预估强平价 = (保证金余额 + 面值 * |张数| * 开仓均价) / (面值 * |张数| * (维持保证金率 + 强平费率 + 1))</p>
</td>
</tr>
<tr>
<td>保证金率</td>
<td>(全仓账户保证金余额 + 浮动收益) / Σ (仓位价值 * (维持保证金率 + 强平费率) )</td>
</tr>
</tbody>
</table>
</div>
<br>
<p class="ace-line ace-line old-record-id-EB3Gdk924obQdnxOlMvlLrkpghh"> </p>
<h2 id="h_01JRSNX1HXSPZQ7489VRM2D3JP" class="ace-line ace-line old-record-id-EB3Gdk924obQdnxOlMvlLrkpghh"><strong>二、单币种保证金模式——逐仓</strong></h2>
<p class="ace-line ace-line old-record-id-OzbwdC7Bso37wGx1raxlQ4ZygPh"> </p>
<p class="ace-line ace-line old-record-id-OzbwdC7Bso37wGx1raxlQ4ZygPh">1）开平仓模式（双向持仓）</p>
<p class="image-uploaded gallery old-record-id-MReXdhlPyoXf3txQg9Rl6ApHgAd" style="text-align: center;" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"e7374c91-71ce-40ab-9d1f-535153986258","height":322,"width":2340,"currHeight":322,"currWidth":2340,"natrualHeight":322,"natrualWidth":2340,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FXwPpbx8IeoVO7Tx0YI0l0IPJgQx%2F%3Fpreview_type%3D16","file_token":"XwPpbx8IeoVO7Tx0YI0l0IPJgQx","image_type":"image/png","size":116509,"comments":[]}]}'><img src="https://btccexchange.zendesk.com/hc/article_attachments/45743629804185" alt="8.png"></p>
<p class="ace-line ace-line old-record-id-HNj2da6dpoggBvxVkHQllSOwg2g"> </p>
<p class="ace-line ace-line old-record-id-HNj2da6dpoggBvxVkHQllSOwg2g">2）买卖模式（单向持仓）</p>
<p class="image-uploaded gallery old-record-id-IMHldc5FuoF0LJxU9A7lY0Eggd9" style="text-align: center;" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"68e71a30-cec7-4504-b667-fd3ddee8f4b8","height":244,"width":2314,"currHeight":244,"currWidth":2314,"natrualHeight":244,"natrualWidth":2314,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FLdIcbPx6RolN1sxaXuflOKxggDb%2F%3Fpreview_type%3D16","file_token":"LdIcbPx6RolN1sxaXuflOKxggDb","image_type":"image/png","size":73634,"comments":[]}]}'><img src="https://btccexchange.zendesk.com/hc/article_attachments/45743654044569" alt="9.png"></p>
<p> </p>
<div>
<table style="width: 100%;">
<colgroup>
<col style="width: 114px;">
<col style="width: 488px;">
</colgroup>
<tbody>
<tr>
<td>名词</td>
<td>解释</td>
</tr>
<tr>
<td>持仓量</td>
<td>您仓位持有的合约、数字货币或USDT</td>
</tr>
<tr>
<td>可平量</td>
<td>可平量 = 持仓量 - 平仓挂单占用仓位数量</td>
</tr>
<tr>
<td>收益</td>
<td>
<p>当前仓位未实现盈亏</p>
<p>1）USDT保证金合约</p>
<p>多仓收益 = 持仓量 *（标记价格 - 开仓均价）</p>
<p>空仓收益 = 持仓量 *（开仓均价 - 标记价格）</p>
</td>
</tr>
<tr>
<td>收益率</td>
<td>收益 / 逐仓仓位保证金</td>
</tr>
<tr>
<td>开仓保证金</td>
<td>开仓量 * 开仓价格／杠杆倍数</td>
</tr>
<tr>
<td>预估强平价</td>
<td>
<p>1）USDT保证金合约</p>
<p>多仓预估强平价 = (保证金余额 - 面值 * |张数| * 开仓均价) / (面值 * |张数| * (维持保证金率 + 强平费率 - 1))</p>
<p>空仓预估强平价 = (保证金余额 + 面值 * |张数| * 开仓均价) / (面值 * |张数| * (维持保证金率 + 强平费率 + 1))</p>
</td>
</tr>
<tr>
<td>仓位保证金</td>
<td>开仓保证金 + 手动追加（或减少）的保证金</td>
</tr>
<tr>
<td>维持保证金</td>
<td>持仓量 * 维持保证金率 * 标记价格</td>
</tr>
<tr>
<td>保证金率</td>
<td>(仓位保证金 + 浮动收益) / (仓位价值 * (维持保证金率 + 强平费率) )</td>
</tr>
</tbody>
</table>
</div>
</div>

合约Pro盈亏计算

<div data-page-id="BLXGdlOdcobKQSxHH5LlcbxegNf" data-lark-html-role="root" data-docx-has-block-data="true">
<p class="ace-line ace-line old-record-id-ZOFYdIJ5boYT2QxXbDzlRkY0g8g">为了确保永续合约的价格更好地反映交易标的市场变化，交易所建立了资金费用机制。该机制促使多仓与空仓持有者之间定期进行现金流交换，使永续合约的价格向指数价格收敛。</p>
<p class="undefined"> </p>
<p class="ace-line ace-line old-record-id-UOsFdSJWYoMHN2xKxwHljPYbgkh">当资金费率为正数时，多仓位持有者支付资金费用给空仓持有者；相反，当资金费率为负数时，空仓持有者支付资金费用给多仓持有者。请留意，BTCC平台仅促成多仓与空仓持有者之间的资金费交换，平台不收取任何服务费用。</p>
<p class="undefined"> </p>
<p class="ace-line ace-line old-record-id-PK1ldyxcLoksHhxHLEElVGjXg2b">一般情况下，BTCC平台在每天的 8:00、16:00 和 24:00 (UTC+8)，每 8 小时收付一次资金费用。每个永续合约的费用都会以毫秒级进行收取，且不会中断交易。持有未平仓头寸的交易者在资金费用核算完成后，有义务支付或收取资金费用。如果您在资金费用核算前平仓，则无需支付或收取资金费用。此外，如果永续合约在资金费用核算前下线，当期的资金费用将作废，不予收付。实际的资金费用核算时长可能会持续一分钟。例如，若交易者在 00:00:20 (UTC+8) 开仓，且此时资金费用核算尚未结束，交易者仍可能需要支付或收取资金费用。</p>
<p class="undefined"> </p>
<p class="ace-line ace-line old-record-id-X1RCdYyRzovIcOx7fqjlAVwCg7b">上述资金费用的收付时间可能根据市场情况进行实时调整。</p>
<p class="undefined"> </p>
<h2 id="h_01JRSPA907D8QMT4TMRD26J7D0" class="ace-line ace-line old-record-id-X1RCdYyRzovIcOx7fqjlAVwCg7b"><strong>资金费率计算</strong></h2>
<p class="ace-line ace-line old-record-id-X1RCdYyRzovIcOx7fqjlAVwCg7b">为了提供更专业的交易服务，提升您的交易体验，BTCC将分三个批次更改永续合约资金费率计算公式，具体可查看<strong>。</strong></p>
<p class="ace-line ace-line old-record-id-JOkBdDayvo5YdqxQpqUlZ6nXgxc">资金费率 = clamp [平均溢价指数 + clamp (利率 – 平均溢价指数, 0.05%, -0.05%)，资金费率上限，资金费率下限]</p>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-B8SVdPujUoLiA6xEJeildjcWgQd" style="text-align: left;" data-list="bullet">
<p>利率 = 0.03% / (24 / 结算周期)</p>
<ul class="list-bullet2">
<li class="ace-line ace-line old-record-id-JiGAdzR6Go0D7zxOfAFlsWcLgcf" style="text-align: left;" data-list="bullet">
<p>举例：BTCUSDT 永续合约的结算周期是每 8 小时一次，利率 = 0.01%</p>
</li>
</ul>
</li>
<li class="ace-line ace-line old-record-id-A2hhdn78boXH87xTenIlj9DNgdg" style="text-align: left;" data-list="bullet">
<p>资金费率上/下限，具体可参考此<span style="color: #2ea121;"><u><strong><a href="https://www.btcc.com/zh-CN/support-center/detail/45740932160921" data-lark-is-custom="true">页面</a></strong></u></span></p>
</li>
<li class="ace-line ace-line old-record-id-TmkfdN3zfo8YZuxhBsSlF0Krguf" style="text-align: left;" data-list="bullet">
<p>溢价指数 = [max (0，深度加权买价 - 指数价格) – max (0，指数价格 – 深度加权卖价)] / 指数价格</p>
</li>
<li class="ace-line ace-line old-record-id-RCT8dPILwo0TYqx8t6xl9Bv6gsX" style="text-align: left;" data-list="bullet">
<p>平均溢价指数使用加权移动平均值算法<strong>，</strong> 即使用过去一个结算周期到当前的溢价指数进行计算</p>
<ul class="list-bullet2">
<li class="ace-line ace-line old-record-id-FpjudIDkTonyBfxJnOIlfqhEgsb" style="text-align: left;" data-list="bullet">
<p>举例：Tn 时刻的平均溢价指数 = (1 × T1 时刻溢价指数 + 2 × T2 时刻溢价指数 + ... + n × Tn 时刻溢价指数) / (1 + 2 + ... + n)。假设某个合约每8小时收付资金费, 下午 14:59 的资金费率会使用 7:00 ~ 14:59 每分钟的溢价指数进行计算，n = 480。</p>
</li>
</ul>
</li>
<li class="ace-line ace-line old-record-id-WTIsdmCA0o4YzxxiLIel5h4BgRf" style="text-align: left;" data-list="bullet">
<p>深度加权买 (卖) 价是买 (卖) 方成交深度加权金额的平均成交价</p>
<ul class="list-bullet2">
<li class="ace-line ace-line old-record-id-NiAvd7lWcoIXOTxWLBilJKEbgwc" style="text-align: left;" data-list="bullet">
<p>深度加权买 (卖) 价 = 深度加权金额 / 满足深度加权金额所需交易币数量</p>
<ul class="list-bullet3">
<li class="ace-line ace-line old-record-id-TvfudKfbzoh3Z5xsYeQlxH1rgbh" style="text-align: left;" data-list="bullet">
<p>深度加权金额 = 20000</p>
</li>
</ul>
</li>
</ul>
</li>
<li class="ace-line ace-line old-record-id-ELjUdBBtaorp7YxsKirlEYzlgng" style="text-align: left;" data-list="bullet">
<p>资金费率每分钟计算，资金费收付时使用结算资金费用时刻的资金费率</p>
<ul class="list-bullet2">
<li class="ace-line ace-line old-record-id-KZ6Qd3w5CoRRUBxlk1dlO70Ugch" style="text-align: left;" data-list="bullet">
<p>举例：16:00 收付资金费，使用 16:00 时刻计算出的资金费率。</p>
</li>
</ul>
</li>
</ul>
<h3 id="h_01JRSPFFHJFVXFG4J5S72MVC46" class="ace-line ace-line old-record-id-ZUidd5TaMomLxvxzzn9lgSROggh"> </h3>
<h3 id="h_01JRSPB13RS0AGK116TGF24JFZ" class="ace-line ace-line old-record-id-ZUidd5TaMomLxvxzzn9lgSROggh"><strong>BTCUSDT 永续合约深度加权买价计算示例</strong></h3>
<p class="ace-line ace-line old-record-id-Cj2fd1zb9ox5bAxxs0ClOiJygp9">假设深度加权金额 = 20,000 USDT</p>
</div>
<div data-page-id="BLXGdlOdcobKQSxHH5LlcbxegNf" data-lark-html-role="root" data-docx-has-block-data="true"> </div>
<div data-page-id="BLXGdlOdcobKQSxHH5LlcbxegNf" data-lark-html-role="root" data-docx-has-block-data="true">
<div>
<table style="width: 100%;">
<colgroup>
<col style="width: 88px;">
<col style="width: 88px;">
<col style="width: 96px;">
<col style="width: 330px;">
</colgroup>
<tbody>
<tr>
<td>买盘深度档位</td>
<td>挂单价</td>
<td>每档深度数量（BTC）</td>
<td>计算过程</td>
</tr>
<tr>
<td>1</td>
<td>90,000</td>
<td>0.02</td>
<td>到该深度档位的挂单价值 = 90,000 * 0.02 = 1,800 USDT该档全部的深度数量将用于计算深度加权买价，即 0.02 BTC</td>
</tr>
<tr>
<td>2</td>
<td>89,900</td>
<td>0.06</td>
<td>到该深度档位的挂单价值 = 买二的挂单价值 + 买一的挂单价值 = 89,900 × 0.06 + 1,800 = 7,194 USDT该档全部的深度数量将用于计算深度加权买价，即 0.06BTC</td>
</tr>
<tr>
<td>3</td>
<td>89,700</td>
<td>0.16</td>
<td>到该深度档位的挂单价值 = 买三的挂单价值 + 买一和买二的挂单价值 = 89,700 × 0.16 + 7,194 = 21,546 USDT该档所需深度加权金额 = 20,000 - 7,194 = 12,806 USDT该档所需深度数量(BTC) = 12,806 / 89,700 = 0.14276 BTC深度加权买价 = 20,000 / (0.02 + 0.06 + 0.14276) = 89,780.8 USDT</td>
</tr>
</tbody>
</table>
</div>
<br>
<p class="undefined"> </p>
<h3 id="h_01JRSPB8GTWCD5PP5QB7WHEVDR" class="ace-line ace-line old-record-id-G3g1dJYjhoGZfDxOw4zl8NEqgde" style="white-space: pre;"><strong>BTCUSDT 永续合约深度加权卖价计算示例</strong></h3>
<div>
<table style="width: 100%;">
<colgroup>
<col style="width: 84px;">
<col style="width: 84px;">
<col style="width: 84px;">
<col style="width: 351px;">
</colgroup>
<tbody>
<tr>
<td style="width: 13.8571%;">卖盘深度档位</td>
<td style="width: 13.8571%;">挂单价</td>
<td style="width: 14.2857%;">每档深度数量（BTC）</td>
<td style="width: 57.7143%;">计算过程</td>
</tr>
<tr>
<td style="width: 13.8571%;">1</td>
<td style="width: 13.8571%;">90,000</td>
<td style="width: 14.2857%;">0.02</td>
<td style="width: 57.7143%;">到该深度档位的挂单价值 = 90,000 * 0.02 = 1,800 USDT该档全部的深度数量将用于计算深度加权买价，即 0.02 BTC</td>
</tr>
<tr>
<td style="width: 13.8571%;">2</td>
<td style="width: 13.8571%;">90,100</td>
<td style="width: 14.2857%;">0.06</td>
<td style="width: 57.7143%;">到该深度档位的挂单价值 = 卖二深度档位的挂单价值 + 卖一深度档位的挂单价值 = 90,100 × 0.06 + 1,800 = 7,206 USDT该档全部的深度数量将用于计算深度加权买价，即 0.06 BTC</td>
</tr>
<tr>
<td style="width: 13.8571%;">3</td>
<td style="width: 13.8571%;">90,200</td>
<td style="width: 14.2857%;">0.16</td>
<td style="width: 57.7143%;">到该深度档位的挂单价值 = 卖三深度档位的挂单价值 + 卖一和二深度档位的挂单价值 = 90,200 × 0.16 + 7,206 = 21,638 USDT该档所需深度加权金额 = 20,000 – 7,206 = 12,794 USDT该档所需深度数量(BTC) = 12,794 / 90,200 = 0.14184 BTC深度加权卖价 = 20,000 / (0.02 + 0.06 + 0.14184) = 90,154.9 USDT</td>
</tr>
</tbody>
</table>
</div>
<br>
<p class="ace-line ace-line old-record-id-OFvFd9m73oIjCfxqnf8l30A7gMc"> </p>
<h2 id="h_01JRSP9GPWPCE2WB02YYN6BXMR" class="heading-2 ace-line old-record-id-C3Dpd7yDhoO0nlxlBAzlFkMOgbh"><strong>资金费用计算</strong></h2>
<p class="ace-line ace-line old-record-id-J6j2dQTF5oRvhkxqz7VlMgAjggh">资金费用 = 持仓仓位价值 × 资金费率</p>
<p class="ace-line ace-line old-record-id-J6j2dQTF5oRvhkxqz7VlMgAjggh"> </p>
<h3 id="h_01JRSPFFHJCWWFWEEYJKY1SXVX" class="ace-line ace-line old-record-id-J6j2dQTF5oRvhkxqz7VlMgAjggh"><strong>U本位合约</strong></h3>
<p class="ace-line ace-line old-record-id-AYgQdsvGLoIsbexW1H4lEva9gZg">持仓仓位价值 = 合约张数 × 合约面值 × 合约乘数 × 标记价格</p>
<p class="ace-line ace-line old-record-id-KBeydMTSgozx6RxUPV0lS5kYgjh">例：</p>
<p class="ace-line ace-line old-record-id-E3zqdWuzYoe5aMxw54hl3HjQgTe">用户持有 10 张 BTCUSDT 永续合约多仓仓位，当前标记价为 60,000 USDT，合约面值为 0.01 BTC，资金费率为 0.1%</p>
<p class="ace-line ace-line old-record-id-AdkVd9K50oi8MaxGrrZlt2e8gRe">持仓仓位价值 = 60,000 × 10 × 0.01 × 1 = 6,000 USDT</p>
<p class="ace-line ace-line old-record-id-LmMvdexNjo7r0sxLzJdlP9z9g6f">资金费用 (平台收取) = 6,000 × 0.1% = 6 USDT</p>
<p class="ace-line ace-line old-record-id-T4WXdXgPDowfcNxUbJwllEqUgLd"> </p>
</div>

永续资金费规则介绍

<div data-page-id="UjcJd5EecojKo3xg2qQlbbfCgye" data-lark-html-role="root" data-docx-has-block-data="false">
<h2 id="h_01JRSPW821YGFFAK97YW0SZ7XJ" class="heading-3"><strong>1.什么是现货指数价格？</strong></h2>
<p> </p>
<p class="ace-line ace-line old-record-id-TtzgdthsnowedLxm2nVlUGbTgug">现货指数价格旨在衡量基础数字资产的价格。BTCC的USDT保证金合约以USDT指数价格计价。</p>
<p class="undefined"> </p>
<p class="ace-line ace-line old-record-id-EHHNd5Baoo04mRxJo9KlwstUgac">为确保指数价格准确反映每个币种的公允现货价格，通常将其计算为从主流交易所获取的现货价格的加权平均值。平均机制旨在确保指数保持代表性，有效减轻来自单个交易所的异常价格偏差的影响。</p>
<h2 id="h_01JRSQES2R06XT67D0H9W6VF9Q" class="heading-3"> </h2>
<h2 id="h_01JRSPW822MHGSKEQVJ4E680CM" class="heading-3"><strong>2.计算现货指数价格</strong></h2>
<p> </p>
<p class="ace-line ace-line old-record-id-VMRAd7mxloZ8jbxUacQlKsBagnd">A. 对于每个指数价格，实时从指定交易所检索相应交易对的价格。数据检索频率受这些交易所设置的API速率限制。</p>
<p class="ace-line ace-line old-record-id-OXNXdpZt9oEmiHxyODdlWWvkglc">B. 进行系统维护或在指定时间段内未更新其最新价格的交易所将不被纳入最新价格更新的计算。每个指数的更新频率不同</p>
<p class="ace-line ace-line old-record-id-Mdb4dhNzQo5goexFKqhlVGejg7b">C. 如果不是所有交易所都提供有效数据，则从每个交易所获取的数据通常会按以下方式加权。</p>
<ul class="list-bullet1">
<li class="ace-line ace-line old-record-id-JTEkdl8WMohZwFxm4h7lmk7Vgjg" data-list="bullet">当有 <strong>3 个或更多交易所</strong>的数据可用时，其将按其预设的加权值加权。如果交易所的价格与其他交易所的中位数价格偏差超过 2%，则该交易所的价格将按中位数的 98% 或 102% 取值，具体取决于其为太高还是太低。</li>
<li class="ace-line ace-line old-record-id-JTEkdl8WMohZwFxm4h7lmk7Vgjg" data-list="bullet">当有 2 个交易所的数据可用时，将其同等加权。</li>
<li class="ace-line ace-line old-record-id-JTEkdl8WMohZwFxm4h7lmk7Vgjg" data-list="bullet">当只有 1 个交易所的数据可用时，将视其为现货指数价格</li>
<li class="ace-line ace-line old-record-id-JTEkdl8WMohZwFxm4h7lmk7Vgjg" data-list="bullet">BTCC可自行决定采取各种措施控制系统性风险。这些措施包括调整、增加、删除和/或替换交易所的现货价格成分，以避免在市场波动剧烈时，该等指数成分出现大幅偏差而导致的市场混乱。由于这些措施可能会影响用户订单的价格、持仓和保证金比例，因此可能会增加用户被平仓的风险。用户应密切关注现货指数价格和保证金水平，并采取预防措施，包括减少持仓和补充保证金以防范账户中潜在的平仓风险。BTCC对风险控制措施造成的损失或损害不承担任何赔偿或其他法律责任。</li>
</ul>
<p class="ace-line ace-line old-record-id-Y4ykdRhH6oEBpjxEkpDlhAHNgNd"> </p>
</div>

指数计算规则

标记价格

<div data-page-id="UfOMdlyH5o6AKwx9on5l5XwGguf" data-lark-html-role="root" data-docx-has-block-data="false">
<h3 id="h_01JRSS643HKQQCYPPQA9V3HFF7" class="heading-2 ace-line old-record-id-UGo6dCDsMosGCJx4yrQlJ4bzgme">什么是爆仓强平制度？</h3>
<p class="ace-line ace-line old-record-id-QfwRd6B6aoi2pfxe3GUlOkmdgOc"> </p>
<p class="ace-line ace-line old-record-id-QfwRd6B6aoi2pfxe3GUlOkmdgOc">强平制度是当用户仓位或账户的维持保证金率触发危险线时，系统处理用户风险仓位的过程。具体过程包括“预减仓校验 (撤单)”，“减仓”，“强平”。各个模式的强平过程有所不同，详情参考各模式全仓交易规则。</p>
<p class="undefined"> </p>
<h3 id="h_01JRSS7251Z51PBKRZNWF7NVVH" class="ace-line ace-line old-record-id-QfwRd6B6aoi2pfxe3GUlOkmdgOc">什么是维持保证金率、强平手续费</h3>
<h4 id="h_01JRSS643H78E0B74P37VKWQNW" class="heading-3 ace-line old-record-id-GgO8dJpxnoDMKlxXE8slI6N2ggb">维持保证金率</h4>
<p class="ace-line ace-line old-record-id-NxkBddNY1ozFlHxOh4slB6PEg0e">合约全仓、逐仓：维持保证金率中的维持保证金是根据各个仓位的仓位价值，乘以其对应的维持保证金率再加总得出。维持保证金率是用户维持当前仓位所需的最低仓位保证金率。</p>
<p class="undefined"> </p>
<h4 id="h_01JRSS643HDNDZ0C6432K07N8H" class="heading-3 ace-line old-record-id-Qi91dIjumo0ixLxfEpcl3rfbgOe">强平手续费</h4>
<p class="ace-line ace-line old-record-id-VXsMdZaSwoicqtxjxZ0lnUR1g7d">各账户模式下账户/仓位维持保证金率 ≤ 100%时，账户触发强制减仓。强平手续费是爆仓过程中，系统处理爆仓单所需要收取的手续费，是以用户当前所在手续费等级的吃单 (Taker) 手续费率计算 。</p>
<h3 id="h_01JRSS8Z62EDA51J9T4NM2JK1K" class="heading-2 ace-line old-record-id-BY3Vdzu5DojvF5xSXj0lT6qHgyi"> </h3>
<h3 id="h_01JRSS643HBV5NTVBWZQ8PQ72Q" class="heading-2 ace-line old-record-id-BY3Vdzu5DojvF5xSXj0lT6qHgyi">为什么设置梯度维持保证金率制度？如何计算？</h3>
<p> </p>
<p class="ace-line ace-line old-record-id-NrqYdjnaYo713ex8rxNlC1WggRc">为防止大型仓位强制平仓时，对市场的流动性造成剧烈冲击，产生大额的穿仓损失。BTCC实行阶梯维持保证金率制度，即用户的持仓仓位越大，维持保证金率越高，用户可选的最高杠杆倍数越低。</p>
<p class="ace-line ace-line old-record-id-MjkmdzgTOoXyWhxNQtglGwbbgXd">每个合约每个方向的仓位单独计算“张数”、“仓位价值”、“该仓位所需的维持保证金率”。</p>
<p class="ace-line ace-line old-record-id-DhlxdgQ09oQx8OxUtsYlFRbagLd">各永续合约档位详情见：<span style="color: #2ea121;"><u><strong><a href="https://www.btcc.com/zh-CN/futures/info?type=3&amp;symbols=BTCUSDT" data-lark-is-custom="true">仓位档位 </a></strong></u></span></p>
<h3 id="h_01JRYPPV5NP8Z79P2J0PAV8VHV" class="heading-1 ace-line old-record-id-WByqdUriNoS0kPx6qZJlQwqQgKf"> </h3>
<h3 id="h_01JRSS643HNENKRJFQKAJN140T" class="heading-1 ace-line old-record-id-WByqdUriNoS0kPx6qZJlQwqQgKf">如何计算U本位合约的保证金率</h3>
<p> </p>
<ol class="list-number1" start="1">
<li class="ace-line ace-line old-record-id-TOxcdB8gCoohFux0GyIljRHggN9" data-list="number">
<p>全仓</p>
</li>
</ol>
<p class="ace-line ace-line old-record-id-RXsEd5FYtoFJN5xRrLqlX0mcgfg">仓位保证金率 = (保证金余额 + 收益) / Σ(面值 * |张数| * 标记价格 * (维持保证金 + 强平费率))</p>
<p class="ace-line ace-line old-record-id-Vu0GdkIlVoM8OkxNkoDlU733gqg">若存在多个品种的的全仓仓位，则对其所需维持保证金与强平手续费进行求和作分子。</p>
<p class="undefined"> </p>
<ol class="list-number1" start="2">
<li class="ace-line ace-line old-record-id-LVWydQOSno7xLTx0ix3ls4PigDc" data-list="number">
<p>逐仓</p>
</li>
</ol>
<p class="ace-line ace-line old-record-id-N9hAdeEsNoGssHx7SNklt6FXgDb">仓位保证金率 = (保证金余额 + 收益) / (面值 * |张数| * 标记价格 * (维持保证金 + 强平费率))</p>
<p class="ace-line ace-line old-record-id-ZtVgdV6LToUySIxKoHolcZbJg7e">每个仓位独立计算保证金率，互不影响。</p>
<p class="ace-line ace-line old-record-id-WExIdkwWwoD3iYxujLllaSCUgEc">详情见：<span class="mention-link_https%3A%2F%2Fhfzczaodqgf.sg.larksuite.com%2Fwiki%2FECfyweFwPitttokV7wAl2SCFgmg%3Ffrom%3Dfrom_copylink mention-token_ECfyweFwPitttokV7wAl2SCFgmg mention-type_16 mention-uuid_r0gND7J0cKYB-6 mention-custom-icon-info_%7B%22type%22%3A0%2C%22key%22%3A%22%22%2C%22obj_type%22%3A22%2C%22file_type%22%3Anull%2C%22token%22%3A%22VIlpdWyXio7jqMxZIpolzpyIgbd%22%2C%22version%22%3A225%7D" data-inline-type="mention_doc"><a href="https://www.btcc.com/zh-CN/support-center/detail/45738686814745" data-href="https://hfzczaodqgf.sg.larksuite.com/wiki/ECfyweFwPitttokV7wAl2SCFgmg?from=from_copylink">合约Pro保证金计算</a></span></p>
</div>

爆仓强平制度

<div data-page-id="FUPydpqkUoLxjkxttZUlDTy7gQc" data-lark-html-role="root" data-docx-has-block-data="true">
<h2 id="h_01JRSSEMTCCSDTPDE29J814ZKK" class="heading-2 ace-line old-record-id-Vy09dDRIwoBqgtxHTRDlOXdSgYf">
<strong>什么是</strong><strong>自动减仓（</strong><strong> ADL</strong><strong>）</strong><strong>？</strong>
</h2>
<div class="ace-line ace-line old-record-id-EIM8dMrVIodTQbxYx7Rl74kggWe"> </div>
<div class="ace-line ace-line old-record-id-EIM8dMrVIodTQbxYx7Rl74kggWe">自动减仓(Auto-Deleveraging)，简称ADL，是一种风险管理机制，用于保护 <span style="color: #2ea121;"><u><strong><a href="https://www.btcc.com/zh-CN/futures/info?type=2&amp;symbols=BTCUSDT" data-lark-is-custom="true">BTCC 风险准备金</a></strong></u></span>。在 BTCC 风险准备金（适用于特定产品）无法吸收因清算亏损仓位而产生的进一步损失的情况下，将触发 ADL 以限制该风险准备金的进一步损失。本质上，亏损仓位与相反的盈利或高杠杆仓位（“<strong>被减仓位</strong>”）相匹配，两个仓位相互抵消并平仓，从而消除亏损仓位对BTCC风险准备金造成的进一步风险。需要注意的是，由于 ADL，盈利仓位可能会被平仓，因此该仓位未来的盈利潜力受到限制。</div>
<div class="ace-line ace-line old-record-id-EIM8dMrVIodTQbxYx7Rl74kggWe"> </div>
<div class="ace-line ace-line old-record-id-HW4bdhviJoOy4FxJtJYlLTtBgDf">BTCC维护多个风险准备金。每个产品线可能有一个或多个适用的风险准备金（“<strong>适用风险准备金</strong>”）。此<span style="color: #2ea121;"><u><strong><a href="https://www.btcc.com/zh-CN/futures/info?type=2&amp;symbols=BTCUSDT" data-lark-is-custom="true">链接</a></strong></u></span>显示不同可用风险准备金的更多详细信息，包括其当前和历史价值。</div>
<div class="ace-line ace-line old-record-id-HW4bdhviJoOy4FxJtJYlLTtBgDf"> </div>
<div class="ace-line ace-line old-record-id-X98rdzqr4oY7UYx4qmnlvH6vgib">ADL 的风险与每个适用风险准备金的状态和价值相关（而不是与 BTCC 的整体风险准备金价值相关），如本文所述。ADL的机制会被仅运用于合约Pro业务。</div>
<div class="ace-line ace-line old-record-id-X98rdzqr4oY7UYx4qmnlvH6vgib"> </div>
<h2 id="h_01JRSSEMTCG8Z927JST9JMS6XT" class="heading-2 ace-line old-record-id-XYSPdnMHbolfUQxQxI0lu6zMgWg"><strong>何时触发 ADL？</strong></h2>
<div class="ace-line ace-line old-record-id-Ow76dbYscoSlCVxS1QqlURsigie">ADL 旨在成为最后的风险管理机制。因此，ADL不会频繁触发。当亏损仓位可以安全地被市场吸收或者在适当时，由适用风险准备金吸收时，BTCC 会采取措施把 ADL 发生的可能性降低。当这种吸收会导致过度风险时，就会触发 ADL。</div>
<div class="ace-line ace-line old-record-id-Ow76dbYscoSlCVxS1QqlURsigie"> </div>
<div class="ace-line ace-line old-record-id-LrChdTKNBoD5t2xeVGVlHJcBgkd">在以下情形会触发 ADL：</div>
<ol class="list-number1" start="1">
<li class="ace-line ace-line old-record-id-MS5NdeyoxoInvixbXCgll6M1gL1" style="text-align: left;" data-list="number">
<div>当适用风险准备金余额低于5000 USDT时：</div>
</li>
<li class="ace-line ace-line old-record-id-UlI9dXgLZoi9Eyx51molQee4g0f" style="text-align: left;" data-list="number">
<div>当适用风险准备金不足弥补该笔订单得穿仓损失时；</div>
</li>
</ol>
<h2 id="h_01JRST40YP1Q8CG32TTEK0W3JQ" class="heading-2 ace-line old-record-id-K4TZdXfMKohu0cxcTZ4lh3RYgIJ"> </h2>
<h2 id="h_01JRSSEMTC5XMPH0M6BZHYP8D5" class="heading-2 ace-line old-record-id-K4TZdXfMKohu0cxcTZ4lh3RYgIJ"><strong>触发自动减仓后会发生什么？</strong></h2>
<p> </p>
<div class="ace-line ace-line old-record-id-OiPudmYUsoAMbvxwS27l4R1kg2g">在普通状态下，在没有自动减仓的情形下，亏损仓位会被清算并导致平仓，方法是将此类仓位放入适用于该仓位的订单簿中，目的是让市场上的相反仓位订单吸收亏损仓位。结果是亏损仓位的亏损得以实现，而市场上的相反仓位订单则得以成交。</div>
<div class="ace-line ace-line old-record-id-OiPudmYUsoAMbvxwS27l4R1kg2g"> </div>
<div class="ace-line ace-line old-record-id-SRQ3dTz3WoRmYAxqwtDlKNQcgld">但是，当触发自动减仓时，亏损仓位会被清算并平仓，方法是将此类仓位与相反的盈利或高杠杆仓位（即被减仓位，可能属于其他用户，而不是对亏损仓位负责的用户）进行匹配，即减仓，而无需将亏损仓位放入订单簿，无论相反的被减仓位是否有未成交的订单，即，即使没有下单来平仓被减仓位，被减仓位也会以匹配时的市场价格被强制平仓。一旦亏损仓位与相反的被减仓位匹配，两个仓位就会相互抵消并平仓。这样直至匹配时为止，可以实现亏损仓位的损失，并实现被减仓位的利润。如果用户不在订单簿中下新订单，被减仓位则无法获得任何进一步的利润。一个关键风险是， 任何新订单的新入场价格可能会与被减仓位不同。</div>
<div class="ace-line ace-line old-record-id-SRQ3dTz3WoRmYAxqwtDlKNQcgld"> </div>
<div class="ace-line ace-line old-record-id-NnNwdF8DFojshJx9vOVlirSCgkS">对于逐仓模式下的被减仓位，利润是通过将仓位的收益率除以仓位的保证金率（该比率考虑了该仓位使用的杠杆量）来计算的。损失则是通过将仓位的收益率（这是一个负数）乘以仓位的保证金率来计算的。对于现货和合约模式、多币种模式以及组合模式，上述公式使用用户账户的保证金率，而不是仓位的保证金率。计算结果的数值越高，该仓位在ADL中的排名就越高。</div>
<div class="ace-line ace-line old-record-id-NnNwdF8DFojshJx9vOVlirSCgkS"> </div>
<h2 id="h_01JRSSEMTCGY7Z19P2QV5R5CS0" class="heading-2 ace-line old-record-id-HtkVdOMczoALPnxgYBTlbklJgFc"><strong>我如何预测何时会发生 ADL？</strong></h2>
<p> </p>
<div class="ace-line ace-line old-record-id-GOpbd2ePxoYeZrxo8oblyqwugGc">ADL 最常发生在高度波动的市场中。因此，其本质上是不可预测的。BTCC 会采取措施限制ADL 的发生。</div>
<div class="ace-line ace-line old-record-id-XpYNdo2Y9oTAZLxLtCTlaa5Xg1c">ADL是基于多种因素对仓位进行的，包括仓位的盈利程度和亏损程度，以及所采用的杠杆量。根据这些因素，对每个仓位进行排名。根据此排名，仓位可能面临的 ADL 风险在 BTCC 平台上使用预警信号灯系统显示（以下示例显示了五格灯中的全部点亮的情况）：</div>
<div class="image-uploaded gallery old-record-id-Uwjudw4PVokevQxlIVhlsASAgFc" style="text-align: center;" data-type="image" data-ace-gallery-json='{"items":[{"uuid":"c1eefd19-4521-4200-8b98-8dfaa8c36e0d","height":254,"width":2320,"currHeight":254,"currWidth":2320,"natrualHeight":254,"natrualWidth":2320,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream-sg.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FR6EUbxc40oBlv3xR2nglNIyEg52%2F%3Fpreview_type%3D16","file_token":"R6EUbxc40oBlv3xR2nglNIyEg52","image_type":"image/png","size":76340,"comments":[]}]}'><img src="https://btccexchange.zendesk.com/hc/article_attachments/45743697590297" alt="自动减仓.png"></div>
<div class="ace-line ace-line old-record-id-Erh1d3rAoo0vUTxpbgmlD3TbgNh">全部 5 格点亮表示仓位面临的自动减仓风险最高，而1 格点亮表示风险较低。尽管有这种预警信号灯系统，但在高度波动的市场中，即使是风险较低的仓位也可能面临自动减仓。</div>
<div class="ace-line ace-line old-record-id-Erh1d3rAoo0vUTxpbgmlD3TbgNh"> </div>
<div class="ace-line ace-line old-record-id-WuRFd5JbMo7toPxKPKdlOstgg6f">适用风险准备金金额的变化与上述网站更新之间可能存在时间差，即使之前没有发生剧烈波动，ADL也可能突然发生。</div>
<div class="ace-line ace-line old-record-id-WuRFd5JbMo7toPxKPKdlOstgg6f"> </div>
<div class="ace-line ace-line old-record-id-VXhudjFmQovYWLxS0HglpL8tgbh">除上述情形外，在发生 ADL 之前不会发出任何警告。发生 ADL 后，将向受影响的用户发送电子邮件通知，其中包含相关已平仓仓位的详细信息。</div>
<div class="ace-line ace-line old-record-id-VXhudjFmQovYWLxS0HglpL8tgbh"> </div>
<h4 id="h_01JRSSJKKTVG68GCZQEXS984C5" class="ace-line ace-line old-record-id-HKOzdjgo0o0anxxn9dJl4LARg0d"><strong>我可以避免我的仓位因被触发ADL而受到影响吗？</strong></h4>
<div class="ace-line ace-line old-record-id-QV0UdzRMvovWF1xKbKZlYwa2gqd">BTCC 的风险管理引擎会根据多种因素来选择哪些仓位将受到 ADL 的约束，包括仓位的盈利程度和亏损程度以及所采用的杠杆量。虽然不可能消除触发 ADL 的可能性，但降低杠杆会降低您的仓位因触发 ADL而受到影响的可能性。</div>
<div class="ace-line ace-line old-record-id-QV0UdzRMvovWF1xKbKZlYwa2gqd"> </div>
<h4 id="h_01JRSSJSW80TXSTAV7ERDHX5FN" class="ace-line ace-line old-record-id-R5fYdXTiXoGZLNxQPbglJIG8gab"><strong>ADL 是否收取交易费？</strong></h4>
<div class="ace-line ace-line old-record-id-QcXcdZWMhokO4GxyIKHlwAivgih">被减仓位不收取交易费。平仓费用是针对亏损仓位收取的。</div>
</div>

自动减仓机制介绍

<div data-page-id="MfGhdCbpToI0ilxWCPLlcSt7gZe" data-lark-html-role="root" data-docx-has-block-data="false">
<div class="ace-line ace-line old-record-id-SQqrdiaJHox4RzxSVKTlWcRkgQb">为提升永续合约爆仓单成交速度，BTCC在不影响市场流动性的前提下，设置了如下的处理方式。</div>
<div class="ace-line ace-line old-record-id-SQqrdiaJHox4RzxSVKTlWcRkgQb"> </div>
<h2 id="h_01JRSSP4X7Q66RP5TN4RRPKPRQ" class="heading-2 ace-line old-record-id-VzzKdi1UEof8qexngBzl2fAagUh">一.名词解释</h2>
<div class="ace-line ace-line old-record-id-C9lidcIxZob0MtxKHAtlW9Csg7d">1.强平价：标记价格到达某值后，用户的保证金率过低，触发爆仓，平台获得剩余仓位所有权</div>
<div class="ace-line ace-line old-record-id-MfxQdvjcgoNixtx8EHtlm8gPgMf">2.破产价格：用户保证金率亏损到 0 的价格</div>
<div class="ace-line ace-line old-record-id-JGCQdGF0To37JwxxVSQlb0umgOe">3.爆仓委托价：强平引擎接管用户爆仓仓位后，委托到市场的价格</div>
<div class="ace-line ace-line old-record-id-GgGfdznjpolyUXxggoKlAgi5gDf">4.爆仓成交价：爆仓单委托到市场后，实际成交的价格</div>
<div class="ace-line ace-line old-record-id-GgGfdznjpolyUXxggoKlAgi5gDf"> </div>
<h2 id="h_01JRSSP4X789NKKC2FQ8Y5QMV6" class="heading-2 ace-line old-record-id-VPYNdkjSIous0dxM6Lylo5lagoc">二.爆仓单委托价算法</h2>
<div class="ace-line ace-line old-record-id-JASidGsCjoJEzAxiRYjlcFDIg9d">1.目标：综合考虑合约市场深度、基差、标记价格等因素，以更为合理的价格进行爆仓单委托，进而降低爆仓单按照破产价格委托对于市场的冲击、加快成交速度来缓解系统风险。</div>
<div class="ace-line ace-line old-record-id-RUD0djM7so1cvcxIls2l1i90gRc"> </div>
<div class="ace-line ace-line old-record-id-SPmDdgAqooesm4xwXVsl6wzUgjT">2.逻辑详述：当用户的仓位触发爆仓，被强平引擎接管后，不会再简单按照破产价格委托到市场，而是综合考虑当前合约市场深度、基差、标记价格，计算出一个可以尽快成交、尽可能增加爆仓盈余的价格，委托到市场。</div>
<div class="ace-line ace-line old-record-id-Y9UedSNuYoGDJEx4Z9rlHl6MgMc"> </div>
<h2 id="h_01JRSSP4X7A1AY4D9SAR994C73" class="heading-2 ace-line old-record-id-SGHid9VXRoEM2Cxf7iolepT5gBq">三.爆仓单及穿仓损失查询</h2>
<div class="ace-line ace-line old-record-id-OiVzdHiGkoO1T7xp1r0lsL0Rgfc">1.在改价过程中，部分爆仓单可能会以低于破产价格（平多）/高于破产价格（平空）的成交价成交。但因为平台接管仓位所有权，这部分破产价格与成交价之间的穿仓损失或盈利都将由平台首先承担。</div>
<div class="ace-line ace-line old-record-id-OiVzdHiGkoO1T7xp1r0lsL0Rgfc"> </div>
<div class="ace-line ace-line old-record-id-V3iLdSAChoFomhxexPqlWIy4gbc">2.该部分改价爆仓单带来的穿仓损失，将会在结算时，将进行风险准备金抵扣以补偿平台。</div>
<div class="ace-line ace-line old-record-id-C4fMd1UguorSE6x8sMXlKNingOf"> </div>
</div>

产品	利率	资金费率上限	资金费率上限	溢价指数上限	溢价指数下限	深度加权金额
BTCUSDT	0.0001	0.00375	-0.00375	0.0005	-0.0005	20000USDT
ETHUSDT	0.0001	0.0075	-0.0075	0.0005	-0.0005	20000USDT
SOLUSDT	0.0001	0.015	-0.015	0.0005	-0.0005	20000USDT
XRPUSDT	0.0001	0.0075	-0.0075	0.0005	-0.0005	20000USDT
LTCUSDT	0.0001	0.0075	-0.0075	0.0005	-0.0005	20000USDT
ADAUSDT	0.0001	0.0075	-0.0075	0.0005	-0.0005	20000USDT

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