Here is a quick guide to Huobi USDT-margined perpetual contracts

On October 26, Huobi officially launched the USDT-based perpetual contract, which supports up to 125 times. Now we can participate in transactions through the WEB, APP and API.

Huobi USDT-margined perpetual contract is a forward contract, i.e. a stablecoin contract, which uses stablecoin (USDT) as collateral and calculates profit and loss. There is no delivery date, and users can hold it all the time. It is settled every eight hours, and after each settlement, the realized profit and loss and unrealized profit and loss will be transferred to the user's account balance. Users can choose to buy long or sell short through Huobi USDT-margined perpetual contract to obtain profits from the rise or fall of the underlying asset price.

However, there are still many friends who have never come into contact with USDT-margined perpetual contracts before, and they all ask how to play with it and whether you can give some more detailed operation instructions. Today, I will explain it to you in detail.

1. Open an account

Open https://futures.huobi.pr, click on “USDT-margined Perpetual Swap”, log in to your Huobi account and open a USDT-margined Perpetual Swap contract.

On the USDT-margined perpetual contract activation page, if identity authentication is not completed, you must first complete identity authentication. After the authentication is completed, click "Next" to enter the user service agreement page. After agreeing to the agreement, click "Confirm and Activate" to successfully activate the USDT-margined perpetual contract.

2. Fund transfer

All USDT-margined perpetual contracts use USDT as collateral, and users only need to transfer USDT to trade. Currently, USDT-margined perpetual contracts support transfers from currency accounts, and also support transfers between USDT-margined perpetual accounts for each contract type.

1) Transferring from a spot account to a USDT-margined perpetual contract account

For example, if a user has just opened a USDT-margined perpetual contract trading account and needs to trade BTC/USDT perpetual contracts, the user needs to transfer USDT from the [Coin Account] to the [USDT-margined Perpetual Contract Account-BTC/USDT] account.

2. Transfer between USDT-margined perpetual contract accounts

For example, if a user has already traded in a BTC/USDT perpetual account, and now wants to transfer the remaining available assets in the BTC/USDT perpetual account to the ETH/USDT perpetual contract for trading. At this time, the user only needs to transfer the transferable amount in the [USDT-margined perpetual contract account-BTC/USDT] account to the [USDT-margined perpetual contract account-ETH/USDT] account.

Note: Currently, USDT-margined perpetual contracts adopt a full-margin asset model with separate accounts. Each product corresponds to a contract account. The assets and positions of different contract products are independent of each other, and the transfers and transactions between different contract products do not affect each other.

3. Opening a position and entrusting an order

After the transfer is completed, you can start trading. Users can choose to open positions by limit order, planned order, copy order, etc.

1. Limit Order

Enter the price and quantity to place an order; or select "Counter Price", "Best 5", etc., and you only need to enter the quantity to place an order. The limit order stipulates the highest price the user is willing to buy or the lowest price the user is willing to sell. After the user sets the limit price, the market will give priority to the transaction at a price that is favorable to the user. Limit orders can be used for opening and closing positions. There are three effective mechanisms for limit orders, "Maker only (Post only)", "Fill or Kill", "Immediate and cancel the rest (ImmediateOrCancel)"; when the effective mechanism is not selected, the limit order defaults to "Always valid".

2. Plan to place an order

Set the trigger price, entrustment price and quantity. When the latest transaction price in the market reaches the trigger condition, the system will place an order according to the entrustment price and quantity set in advance (i.e. limit order).

3. Follow orders and take orders

Following orders means placing a limit order to buy or sell according to the market price of the level selected by the user, the number of available/liquidable assets (or the market quantity, the set quantity); the following order function can also choose the "only maker" effectiveness mechanism, which will not be traded immediately in the market. If the order will be traded immediately with the existing order, then the order will be cancelled to ensure that the user is always the maker. When the effectiveness mechanism is not selected, it is a normal limit order.

Taking an order means placing a limit order to buy or sell according to the market price of the level selected by the user and the amount of available/liquidable assets (or market quantity, set quantity); the taking order function can also choose two effective mechanisms, "IOC" or "FOK". If the transaction cannot be completed immediately or completely in the market, it will be cancelled immediately. When the effective mechanism is not selected, the limit order defaults to "always valid".

After the order is successfully placed, the executed position is displayed in the "Current Position" column, and the unexecuted part is displayed in the "Current Order" column (the order can be revoked before the matching is successful).

4. Close your position

When closing a position, select "Limit Order" or "Plan Order" to close the position according to the situation. To close a long contract, click "Sell to Close Long" and to close a short contract, select "Buy to Close Short". Using the "Flash Closing" function, the closing order issued by the user can be quickly executed at the counterparty price within a 30-level range, avoiding user losses caused by the inability to execute orders when the market rises or falls sharply.

5. Transaction data query

Move the mouse to "Contract Information" in the navigation bar to view information such as "Settlement Record", "Risk Reserve", and "Funding Rate".

Move the mouse to the top of the page and navigate to "Transaction Management" to view transaction data such as "Financial Records", "Historical Orders", and "Transaction Records".

Well, the above is the fastest guide to get started with Huobi USDT-margined perpetual contracts. I hope it can be helpful to you.

Oh, by the way, let me tell you that Huobi U-standard perpetual is holding two activities: one is to complete tasks, earn points, and share a 100,000 USDT prize pool. In addition, there is an activity to give VIP benefits. Eligible users who have 30,000 USD or more in their Huobi contract accounts can apply to experience the corresponding VIP level benefits and enjoy the large account rates and services.

If you are still wondering where to try U-based perpetual products, I suggest you consider trying Huobi. Their products have always been stable and reliable, and by participating in these two activities, you can earn a lot of money and save a lot of transaction fees.