Aibit Perpetual Futures trading operates 24/7, with settlements occurring every 8 hours at specific times each day based on UTC timezone. The settlement times are at 0:00, 8:00, and 16:00 based on UTC timezone. Trading will be temporarily suspended during the settlement period, the duration of which depends on the system's settlement processing time.
Types of Trades
There are two types of trades: opening and closing positions. Opening positions can be further categorized into buying and selling:
Buying (Long Position): Users can open a new position by buying a certain quantity of a specific Futures when they have a bullish view on the index and operate “Open Long”. They will increase the long position once matched successfully.
Selling (Short Position): Users can open a new position by selling a certain quantity of a specific futures when they have a bearish view on the index and operate "Open Short" , They will increase the short position once matched successfully.
Order /Order Types
Limit Order: Users need to specify the price and quantity of the order. A limit order sets the maximum price the user is willing to buy or the minimum price they are willing to sell. Once the user sets a limit order, the system will match trades based on the price priority and time priority rules. If the user's buying price is higher than the market price or the selling price is lower than the market price, the market will prioritize matching at a price that is favorable to the user.
Note: Opening orders will use margin, and closing orders will use the available position quantity.
Example 1:
Assuming the current BTC futures price is 10,000 USDT, if a user wants to buy at a lower price of 9,500 USDT, they would set a limit buy order at 9,500 USDT. When the futures price falls to or below 9,500 USDT, the order will be automatically executed. Conversely, if the market price is 10,000 USDT and the user sets a limit buy order at 11,000 USDT, the system will immediately match the order at 10,000 USDT based on the "buy low" principle since 10,000 USDT is more "advantageous" to the user compared to the limit of 11,000 USDT.
Market Order: Market orders allow users to place orders at the current best market price without specifying a price. Users only need to select the quantity for opening the position, and the platform will help them achieve fast execution.
Example 1:
Assuming the current BTC futures' latest traded price is 10,000 USDT, if a user selects a market order and enters a quantity of 200 futures, the order will be executed immediately (in extreme market conditions, it may not be executed immediately), and the average execution price will be around 10,000 USDT.
TP/SL(Take Profit and Stop Loss): It refers to pre-set closing orders with trigger conditions (take profit price or stop loss price) and order prices. When the latest traded price reaches the pre-set trigger price, the system will place a market order based on the pre-set order price and quantity to achieve the take profit or stop loss objective.