[Preparation Before Trading]
① Login to CROSS exchange
② Navigate to the Trading Platform
Coin Brand: Select BTC/USDT
③ Transfer of Funds (from Ordinary Account to Margin Account)
＜About Margin Accounts＞
・To perform margin trading, it is necessary to transfer funds from your Ordinary Account to your Margin Account.
・Margin Trading can be conducted with up to 10 times leverage. Asset management can be performed efficiently by separating your Ordinary Accounts and your Margin Account.
・Funds in Ordinary Accounts cannot be used for direct margin trading (a transfer of funds is required)
・The funds in the Margin Account can be transferred to an Ordinary Account at any time.
・ Margin Accounts can only be used with USDT.
How to Transfer Funds
Trading platform → Select “Margin Buy” or “Margin Sell”
※ Only the first exchange needs to be confirmed and you must agree to the Terms of Use from the “Transfer” button.
Method ① Click on the “Transfer” button
Method ② Click on “To Wallet Balance”
Method ①
When you click on the transfer button, the “Transfer Funds” screen is displayed.
・ Transfer destination: From Ordinary Account to Margin Account
・ Transfer amount: Enter the amount needed for Margin Trading
・ Please click on the "Transfer" button
Method ②
Transfer from Wallet Balance
・Click on the “To Wallet Balance” button
・Select "Fund Transfer" to transfer funds
・The rest is the same as transfer method
④ Verify Balance
You can verify your balance after the funds transfer with the Margin Account “Account History” or the balance of the trading platform.
You are done now. You are ready to trade.
[How to use Margin Trading]
● Serviced Currencies: BTC / USDT
● Period: Limitless
●Leverage: Up to 10 times (βeta Version is up to 2x)
Leverage ratio: You can select from 2 times, 4 times, 6 times, 8 times, and 10 times.
(For example, in the case of 10 times leverage, the position of 100 USDT can be taken with the Margin Balance of 10 USDT)
● About Buying and Selling
Margin trading allows you to place orders directly on the CROSS exchange actual (no leverage) trading board.
※ Minimum trading volume: 0.001 BTC
・ When Buying: Margin Buy
・ When Selling: Margin Sell
You will select.
● Order System: Limit Orders & Market Settlement
● Order Entry Items: 4 Items
<New Order Items ①②>
① Trade price (Limit order)
② Trade Quantity (BTC)
The user can also set in advance reverse settlement orders at the same time as new orders.
<Settlement Order Items ③④>
③ Profit Taking price (discretionary): Enter the settlement limit price for profit taking
④ Loss Cut price (discretionary): Enter settlement limit price for cutting losses
※ You can change the profit taking & loss cut price while the settlement order is not filled after the new order is placed.
※ You can cancel the order after the new order is placed and before it is completely filled.
● How to place orders with Margin Trading
＜The Transaction Flow＞
① A new order is placed (buy or sell)
② Order Execution (holding position)
③ Reverse Settlement Order (profit taking / loss cut order)
④ Settlement Order Execution (confirm profit / loss)
＜How to Place an Order＞
① Select Margin buy or sell
② Select a leverage ratio (2x, 4x, 6x, 8x, 10x)
③ Enter the trade price
④ Enter the trade quantity (BTC)
⑤ Enter profit taking price
⑥ Enter the loss cut price
(profit taking or loss cut prices are not required; one sided entry is permitted)
⑦ Click on the Buy or Sell BTC button
If you have enough funds in your margin account, then your order is complete. ← 1 to 7
<Commentary on a few Points >
・ You can set the "profit taking, loss cut price" of the opposite trade at the same time as the new order.
・ When a new order is filled, the profit-taking order in the opposite direction remains as is.
・ Loss cut orders are placed when the latest bid reaches the loss cut price. ←⑤⑥
・ The price of settlement orders can be changed afterwards.
<How to Calculate the Leverage Amount>
The amount of margin and borrowing fee (red frame) are calculated automatically when you enter "① leverage ratio, ② trade price, and ③ transaction quantity".
<Example of simultaneous entry of a new order and settlement order>
・ In the case of Margin Buying
① Transaction Price = New Buy Limit Order
② Profit taking price must be greater than the bid limit
③ Loss cut price must be smaller than the selling limit price, and
Enter a number smaller than the selling price offering the best conditions
・ In the case of Margin Selling
① Transaction Price = New Sell Limit Order
② Profit taking price must be smaller than the limit price
③ Loss cut price must be larger than the bid limit, and
Enter a number greater than the bid price offering the best conditions
<Order confirmation method>
Once the order is complete, it will be displayed on the same trading board as with other real trades.
Orders prior to settlement are listed in "Open Orders" and will be displayed in "Filled Orders" when settlement is complete.
● About Order Details
When the order is completed, "Order Details" will be displayed in the Open order / Settled order column, and you can check the details for each order.
Trading Screen > Margin (unsettled orders) > Operate> Order Details
<How to view order details>
1. Order date
Borrowing fee will incur starting from the date and time the order was placed.
2. Order expiration date
Order Expiration (30 days); The position will be settled automatically after this date.
3. Initial margin balance
The necessary margin at the time of a new order. Valid until the order is settled or cancelled.
4. Leverage Multiple
The leverage multiple selected when placing a new order (not adjustable after ordering).
5. Borrowing fees / 1hr
Hourly commission incurred by trading
6. Trading fees (Transaction fees)
It conforms to the actual trading transaction fees.
7. Trading pair
Targeting trade currencies
8. Order Price / Quantity
Price and quantity ordered
9. Execution price / quantity
The executed price and quantity
10. Fill rate
Proportion filled for the corresponding order (%)
11. Settlement price / quantity
Settlement price and quantity
12. Profit Taking Price
Profitable settlement order
13. Loss Cut Price
Settlement order for loss cut
14. Unrealized gains and losses
Unsettled current profit or loss
15. Confirmed profit and loss
Confirmed profit and loss
16. Current margin balance
Current required margin
17. Estimated Loss Cut price
Below this price the position will be cleared.
18. Margin maintenance rate
Margin maintenance rate of margin with ± 0 being 100%. If it falls below 30%, you will be subject to loss cutting.
19. Automatically replenish the margin
Checking this item will automatically replenish funds from the Margin Account to avoid a loss cut when the margin maintenance rate falls below 30%.
● Settlement order (position closing) method
When a new order is filled (including partial filling), the position can be resolved by changing the "margin / loss limit" price on the order screen to confirm the profit or loss.
<Example of a BTC / USDT settlement>
Trade Price: 9,000.00 USDT (New Buy Limit Order)
Profit Taking price: 12,000.00 USDT
Loss cut price: 7,500.00 USDT
Current price: 11,000.00 USDT
With regards to settlement when holding a position under the above conditions, there are two ways to determine the profit or loss at the current price without waiting for the "profit taking or loss cut price" to be reached and cleared.
Method ① Bring "profit taking and loss cut prices" closer to the current price on the "order details" screen
Method ② Change the settlement price to current price (example: 11,000.00 USDT)
By performing the above, the position will be settled more easily.
★ A Point for Settlement = Settlement is conducted by changing the profit taking and loss cut prices.
<Important: Notes on settlement orders>
※ After placing a new buy order, placing the same number of new selling orders, it will not be closed (position closing) even if it is filled.
In this case, it will be in the state of "there are two filled new buying positions and new selling positions". →Settlement orders are controlled by changing the profit taking or loss cut price.
If you do not place a settlement order after a new order has been filled, you will be able to hold the position for a long time and daily borrowing fees will incur. After the expiration date, the position is forced to settle and the profit or loss is recognized. →You can change the settlement order at any time during the validity period.
● Changing the Settlement Order
If you change the settlement order, the unpaid profit taking / loss cut order is automatically canceled and re-ordered at the changed price.
<How to change settlement orders>
After a new buy or sell order has been filled, you need to enter a settlement order.
① If you have not set a profit taking, loss cut settlement order price
② If you want to change the settlement order price for profit taking, loss cut
<Operation method>
Trade screen > Margin (pending orders) > Navigate to > select Order Details.
＜Order Details＞
・When you click on the "Change profit taking / loss cut price" the profit taking and loss cut prices will be displayed and you will be able to enter the prices.
・After entering the numerical value, click on “Save changed setting” to change the setting.
・Click on “Cancel Changes” to return to the previous values.
This way, if the loss cut / profit taking order is unsettled (the position remains), you can control the position by changing the value of the profit taking / loss cut price.
※ Please note that you will not change the price if you leave the field blank or enter 0 when changing the profit taking / loss cut price.
【Important】About Market Settlements
If you select “Market Settlement”, the current position will be settled at the market price. Select this option if you want to settle immediately without limiting the price.
When you click on the Market Settlement button, the confirmation screen as shown above will be displayed.
・Confirm・・・Execute market settlement immediately
・Cancel・・・Cancel market order
※ Another way to use the Market Settlement button (order cancellation function)
・After placing an order, if the order has not yet been executed, pressing “Market Settlement” will cancel the order itself.
● Timing of Orders
<Profit Taking>
If a profit taking price is set, opposite trading orders (including partial fills) are ordered as soon as new orders are filled.
・ New purchase order is executed → A settlement sale order is ordered at the same time
・ New sale order is executed →A settlement buy order is ordered at the same time
<Loss Cutting>
Care should be taken when setting up loss cuts with Margin Trading.
With regards to loss cut prices, they are not ordered immediately after the new order has been filled, but the latest price once it is placed after the loss cut set price has been entered and advanced. This is illustrated in the figure below.
Example Trade:
New Limit Buy: 9,000 USDT is filled and holds a buy position, the price goes down, and a loss sell limit is ordered when it falls below 7,500 USDT.
The loss settlement is complete when the lowered price returns to 7,500 USDT again.
Supplementary explanation
① If a part of a new order is filled (partially filled) and the profit taking order is filled as it is (taking a profit), the remaining unfilled orders will not be canceled automatically. Please cancel your order by yourself.
Conversely, if a loss cut order is filled, the remaining new orders are cancelled.
When a loss cut order (stop loss) is triggered, a profit taking order is automatically canceled. This is because loss cut settlement is executed earlier than profit taking.
② If the settlement order is partially filled, the loan interest, transaction fees, and the loan will be repaid in accordance with the ratio. Depending on the realized gains and losses, the margin balance of partially filled orders may be adjusted.
If the margin retention rate exceeds 120%, funds can be transferred between your margin account and your ordinary account. However, the margin cannot be moved if there is a new order that has not been completely filled.
●About settings of settlement prices
The settings for profit taking and loss cut prices are as follows:
<For New Purchases>
The profit taking price is set higher than the order price, and the loss cut price is set lower than the order price and lower than the optimal selling price.
Profit taking price ≧ Order price ≧ Loss cut price
and,
Optimal Selling Price > Loss cut price
<For New Sales>
The profit taking price is set lower than the order price, and the loss cut price is set higher than the order price.
Loss cut price> order price> profit taking price
and,
Loss cut price > optimal buying price
<Adjusting the profit taking / loss cut price of the buying order>
1. All new orders are filled
Profit taking price > Loss cut price
2. If all new orders have not been filled yet
Profit taking price > Order price> Loss cut price
<Adjusting the profit-taking / loss-cut price of the sales order>
1. All new orders are filled
Loss cut price > profit taking price
2. If all new orders have not been filled yet
Loss cut price > order price > profit taking price
<Priority of settlement order>
Automatic loss cut order > Loss cut order > Other orders
[About the Margin Account Margin Balance]
● What is a Margin Account?
With CROSS exchange, there is an account dedicated to Margin Trading separate from a user’s ordinary account.
For all CROSS exchange users that have passed Identity Verification, there is no need to open a new margin account.
After opening a new account, please note that those who have not completed KYC cannot use Margin Trading.
<Asset Management by Transfer>
Since the margin account is a dedicated USDT account, you can start using it once you transfer funds from your ordinary account.
By separating the ordinary account from the margin account, customers can operate with confidence. (In Margin Trading, only funds in the margin account can be used for trading.)
Transfer of funds in the account is done by you, as the exchange does not move your funds for you.
● The Margin Balance is calculated for each order
With Margin Trading, initial required margin (initial margin) is calculated for each new order.
Users should first make sure that the balance in their margin account meets the initial margin requirement.
Margin account balance ≥ Initial margin balance
● Margin Maintenance Rate: Starts at 100%
Since Margin Trading calculates the margin for each order, the margin maintenance rate starts from the state of 1 order = 100%.
Initial Margin Balance = Order Quantity * MAX Price (Latest Quote, Order Price) / Leverage Multiple
※ MAX price refers to adopting the higher price by comparing the latest quotes and the order price.
Example 1)
・Latest quote: 100
・Order price: 90
・MAX price = 100
Example 2)
・Latest quote: 100
・Order price: 105
・MAX price = 105
● About Automatic Loss Cuts
If there is a margin maintenance rate of 30% or less among the positions held, selecting the option "Refill the Margin Automatically" will give priority to the margin of the relevant order from the balance of the margin account. You can compensate for the margin so that the maintenance rate is at 80%.
(If the balance in the margin account cannot maintain the margin maintenance rate above 80%, a loss cut will be performed automatically.)
If you do not use this option, the position will be automatically loss cut when the margin maintenance rate falls below 30%, even if there is sufficient funds in the margin account.
If the margin retention rate decline cannot be resolved due to a lack of balance in the margin account, an automatic loss cut will be triggered.
● About Withdrawals
・ If the margin maintenance rate of the order exceeds 120%, you can move the margin from the order to the margin account by yourself. (If you move funds, the margin maintenance rate fluctuates due to unrealized gains and partial contracts.)
・ If there are unsettled orders in the new order, the margin cannot be withdrawn.
・ The order will be returned to the margin account automatically when the order is in the "settlement complete" status.
<Structure of New Purchase Orders>
Trading Policy:
BTC / USDT Buy (Long Position)
Method:
・New purchase = Borrow USDT and purchase BTC with USDT as collateral (margin) (= holding a BTC buy position)
・Settlement sale = Repay USDT borrowed after selling BTC (= position canceled)
Formula:
Margin Maintenance Rate = [(initial margin balance + additional margin balance – transferred margin balance ± recognized profit/loss ± unrealized profit/loss) / (initial margin balance * prepayment principal / initial principal)] × 100%
This formula shows the proportion of margin to the total of all transaction costs, margin, and profit / loss generated by the trade.
・Margin balance = Initial margin balance + Additional margin balance – Transferred margin balance ± Realized margin
<Structure of New Selling Orders>
Trading policy:
BTC / USDT Sell (Short Position)
Method:
・ New Sell = Borrow BTC from the exchange with USDT as collateral (margin) and then sell BTC (= holding BTC sell position)
・ Settlement Buy = Buy back BTC and repay borrowed BTC (= position cancellation)
Formula: (Same as a New Buy)
<Explanation of terms>
・Price difference = Contract rate – Latest base rate of the corresponding trade pair
・Fees = Fees for the portion of the order filled + Fees that may be incurred when cleared at the current rate
・Additional margin balance = to add funds from the margin account to increase the margin balance
・Transferred margin balance = Surplus margin returned to the margin account from orders with profit
● Profitability and Settlement of Positions
<Unrealized gains and losses>
If a new order has been filled and the position has not been settled, then the resulting unrealized gains and losses are displayed as "unrealized gains and losses."
Formula for unrealized gains and losses on buy orders:
(CROSS exchange latest quotes – average contract rate) * (new order quantity – settlement order committed quantity) – borrowing interest before repayment – unpaid fees = "positive or negative value"
Formula for unrealized gains and losses for sell orders:
(Average contract rate – latest quote from CROSS exchange) * (new order quantity – settlement order commitment fixed amount) – borrowing interest before repayment – unpaid commission = "positive or negative value"
※ In the case of both buy and sell orders, the calculation result is "positive" if it means "unnecessary profit" and "negative" means it is a loss.
<Realized gains and losses>
When a settlement order is filled (including partial fills), realized gains and losses are displayed.
Formula for the profit / loss of the purchase order:
(Settlement order execution average rate – New order execution average rate) x Settlement quantity – Repayment borrowed interest – Payed commission = "positive or negative value"
Formula for selling order realized profit and loss:
(New Order Committed Average Rate – Settlement Order Committed Average Rate) x Settlement Quantity – Repaid Borrowing Interest – Payed Fee = "Positive or Negative Value"
※ In the case of both buy and sell orders, a calculation result of “positive” means unrealized gain, and “negative” means loss.
● Return of Funds
After the order is settled (position closed), the profit and loss is calculated in USDT and the funds are returned to the margin account.
① If the balance of the margin account is "positive," funds can be moved between the ordinary account and the margin account.
(2) If the balance of the margin account becomes "0 or less," you can deposit money from your ordinary account to the margin account only.
If the settlement order is partially filled, the principal, interest and fees are repaid according to the proportion of the filled position. Before all settlement orders are filled, the realized gains and losses resulting from partial fills may affect the margin balance change.
<If the balance of the Margin Account is negative (minus)>
Users should first make the balance of the margin positive (plus) by "depositing funds, position settlement, order cancellation" etc.
<How to make account balances positive>
・Addition of funds (Sending USDT from your ordinary account to your margin account)
・Settlement of filled orders
・Cancel pending orders
※ If you do not have USDT in your ordinary account, convert other coins to USDT on the trading platform and transfer them to your margin account. Until the funds in the account are positive, you will not be able to withdraw from the margin account or other normal transactions using USDT.
※ The exchange does not operate the user's ordinary account without permission.
● About Borrowing Fees
<Timing of borrowing fees occurrence>
Fees are calculated on an hourly basis when the user borrows a coin and enters into a leveraged transaction.
・The Borrowing Fee per hour: 0.00166667%
Calculation Method
1 Day (24 hours) borrowring fee ＝ 0.04%
0.04 % ÷ 24h＝0.00166667% / hour
・Time unit definition: one (1) hour is counted from the time of order placement.
① Order cancellation within 1 hour of ordering: No fee
If you cancel an Unfilled Order within 1 hour of placing the order, the cancellation fee is free.
② Cancellation of an order after 1 hour since placement: Fee is charged every hour
A fee (0.00166667%) will be charged hourly once an hour passes after an order has been placed.
③ Transaction completed within 1 hour of order placement: 1 hour fee
Even if the transaction is completed within one hour from order to settlement, a one hour fee (0.00166667% x 1 hour) will be charged.
Margin + profit / loss after deduction of commission (0.00166667% x 1 hour) will be returned to your margin account.
④ Transaction completed 3 hours after placing order: 3 hour fee
If the transaction is completed three hours after placing the order, a fee of three hours will be charged.
Fee: (0.00166667% x 3 hours) deducted from the margin balance + Profit/Loss will be returned to your margin account.
<Rules on Borrowing Fees>
① Borrowing fees can be paid with XEX
If you pay fees with unlocked XEX, it will be deducted directly at the time of settlement. If the balance of XEX is sufficient, the margin maintenance rate and unrealized gains / losses will not be affected by borrowing fees.
② The maximum borrowing period is 30 days
The maximum borrowing period for each order is 30 days. Orders canceled over 30 days x 24 hours will be canceled automatically.
③ Formula for Borrowing fees
The fee (interest) is calculated at the USDT rate at the time of borrowing. The interest accrued when the position is settled is paid from the user's margin balance in proportion to the settlement order's fulfillment rate.
Interest on Borrowing = Borrowing Period * Amount Borrowed (USDT rate at time of borrowing) x Interest Rate
④ About borrowing interest rates
Interest rates may be adjusted in the future, but changes to interest rates will not affect orders already placed. (Current status: 0.0016667% per hour)
● About Trading Fees
① The margin trading fees are the same as ordinary trade fees. However, all fees are calculated in USDT.
② When a new order is filled, the fee for the filled part is calculated. Once the settlement order has been filled, the “new order fee and all settlement order fees” will be collected from the margin account according to the proportion of the arrangement.
The “Fee on the filled portion” includes the execution of a new order and the settlement of a settlement order. This fee is deducted from the user's assets (including margin and settlement income).
③ If the fee is deducted, the same amount will be paid to the user in full with XEX (all paid XEX with come with a 90-day lock). Thus, the commission fees on leverage trading are virtually free.
● About the borrowing limits of coins
① Borrowing limit
Margin per order: 5,000 USDT
(Example: In case of 10 times leverage, trading 1,000 USDT is possible with 100 USDT)
● Trading Limits (βeta Version)
Margin Trading βeta Version has the following trading limitations. This a measure taken to reduce risk and allow traders test out Margin Trading.
① Maximum borrowing limit per person
10,000 USD (USDT, BTC in total)