How to open a futures position on Xoibit
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To open a futures position, move USDT to your Futures wallet, choose a pair on the futures trading page, set your margin mode and leverage, enter a size and press Buy/Long or Sell/Short. When the order fills, your position appears in the Positions tab.
Futures use leverage. Price moves can wipe out the margin of a position, and in extreme moves you can lose your whole Futures wallet balance. Only trade with money you can afford to lose.
What do I need before my first trade?
- Futures enabled on your account. The first time you open the futures page you are asked to read and accept the Futures Service Agreement and press Enable.
- USDT in your Futures wallet. Futures on Xoibit are USDT-margined perpetual contracts, so margin, profit and loss are all in USDT. See how to transfer USDT to your Futures wallet.
Step by step
- Open Futures and choose the pair you want to trade.
- Pick the margin mode, Cross or Isolated. New pairs start in Cross mode.
- Set your leverage for this pair. It cannot be above the pair's maximum.
- Choose the order type: Limit (you set the price), Market (fills at the best available price) or Stop-limit (a limit order placed when the stop price is reached).
- Enter the size. The form shows the cost (margin plus estimated fee) and the maximum size you can open with your available balance.
- Optionally add a take profit and stop loss.
- Press Buy/Long if you think the price will rise, or Sell/Short if you think it will fall.
Where do I see my position?
Open positions are shown under the trading chart and in Positions, with the entry price, mark price, liquidation price, margin, margin ratio and unrealized PnL. A limit order that has not filled yet stays in Open orders until it fills or you cancel it.
How much margin will it use?
Initial margin = position value / leverage. For example, a position worth 1,000 USDT at 10x leverage needs 100 USDT of margin, plus the trading fee. The size limits, price limits and leverage tiers for every pair are on Trading rules.
FAQ
Why can't I place a futures order?
Check that futures is enabled on your account and that your Futures wallet has enough available USDT for the cost. The error message tells you which rule was not met.
Can I trade futures with BTC as margin?
No. Futures on Xoibit are USDT-margined, so you need USDT in your Futures wallet.
What is the minimum order size?
It is set per pair. You can see the minimum and maximum order amount for each pair on Trading rules.