USDT-Margined Contracts – Help Center

1. Introduction

Venkate USDT perpetual contracts are virtual contract products settled in USDT. Each contract represents a certain quantity of digital currency (e.g., each BTCUSDT contract represents 0.01 BTC). Investors can go long to profit from rising prices or short to profit from falling prices.

2. Market Mechanism of Perpetual Contracts

Key mechanisms traders need to understand when trading perpetual contracts include:

Position Marking: Perpetual swap contracts use a fair price marking method. The mark price determines unrealized P&L and liquidation prices.
Initial Margin: Determines the leverage you can use for opening positions.
Maintenance Margin: The minimum margin required to maintain positions.
Funding Fees: Paid every 8 hours between buyers and sellers. If the rate is positive, longs pay shorts; if negative, shorts pay longs.

*Traders need to pay or receive funding fees only if they hold positions at the funding timestamp. The current market funding rate can be seen in the [Funding Rate] indicator column.

3. Funding Fees

Funding timestamps: 00:00 (UTC+8), 08:00 (UTC+8), 16:00 (UTC+8)

Your position value is independent of your leverage. For example, holding 100 BTCUSDT contracts will incur funding fees based on the nominal value of these contracts, not the margin allocated.

The relationship between Venkate perpetual contracts and funding fees:

Venkate does not charge any funding fees; these are exchanged between users. When the funding rate is positive, longs pay shorts; when negative, shorts pay longs.

4. Fees

Venkate fees for regular users are as follows:

Maker fee: 0.04%
Taker fee: 0.06%

*If the contract fee is negative, the corresponding fee will be refunded.

5. Key Terms Explained

Wallet Balance: Transfer in - Transfer out + Realized P&L
Realized P&L: Total closed P&L + Total fees + Total funding fees
Total Equity: Wallet balance + Unrealized P&L
Position Margin: Funds collateralizing positions, including margin for all isolated positions; in Venkate it includes only the margin for isolated positions.
Order Margin: Frozen funds for all active orders.
Available: Wallet balance - Isolated position margin - Frozen order margin
Net Asset Balance: Funds available for transfers and new positions.
Unrealized P&L: Sum of all floating P&L.