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<img src="https://uploads.bydfi.in/events/cms1736162473121rNPyOGrMuNPk.png" alt="image.png" data-href="" style=""/>When the margin ratio of a position reaches 100%, forced liquidation is triggered, resulting in the loss of all margin allocated to that position. <h3>Margin Rate Calculation Formula</h3> Isolated Margin Rate(Contract Quantity * Par Value * Entry Price * Maintenance Margin Rate - MMQC + Contract Quantity * Par Value * Mark Price * Liquidation Fee Rate) / (Position Margin + Unrealized PNL) * 100% Example:FIBO holds a 100X leveraged BTCUSDT long position with a contract quantity of 10,000, an entry price of 65,000, a par value of 0.001, a maintenance margin rate of 0.25%, a mark price of 64,875, a liquidation fee rate of 0.006, an unrealized PNL of -1,250, a position margin of 6,500, and MMQC is 250. (10,000 * 0.001 * *65,000 * 0.25% - 250 + 10,000 * 0.001 * 64,875 * 0.006) / (6,500 - 1,250) * 100% = 100% Cross Margin Rate(Total Cross Margin Maintenance Margin + Total Cross Position Close Fee) / (Account Balance + Bonus Balance - Isolated Margin Frozen Amount + Cross Margin Unrealized PNL) * 100% Example:FIBO holds a BTCUSDT cross margin long position with a contract quantity of 10,000, a par value of 0.001 BTC, a mark price of 59,000, a long maintenance margin of 3,000, and a short maintenance margin of 0. The closing fee rate is 0.006. The account balance is 50,000, the bonus balance is 5,000, the isolated margin frozen is 0, and the cross margin unrealized PNL is -48,460. (3,000 + 0.001 * 10,000 * 59,000 * 0.006) / (50,000 + 5,000 - 0 - 48,460 ) *100% = 100% <h3>Liquidation Price Calculation Formula</h3> Isolated Margin Long Position:[Margin - Par Value * Contract Quantity * Entry Price * (1 + Maintenance Margin Rate) + MMQC] / [Par Value * Contract Quantity * (Liquidation Fee Rate - 1)]Short Position:[Margin + Par Value * Contract Quantity * Entry Price * (1 - Maintenance Margin Rate) + MMQC] / [Par Value * Contract Quantity * (Liquidation Fee Rate + 1)] Cross Margin(Wallet Balance + Bonus Balance − Total Frozen Isolated Margin − Total Cross Margin Maintenance Margin − Total Cross Closing Fees + Total Cross Margin Unrealized PNL− Par Value × Long Contract Quantity × Long Position Entry Price + Par Value × Short Contract Quantity × Short Position Open Price) / (Par Value * (Short Contract Quantity - Long Contract Quantity) + | Par Value * Long Contract Quantity * Long Position Maintenance Margin Rate - Par Value * Short Contract Quantity * Short Position Maintenance Margin Rate| + Par Value * Total Quantity * Closing Fee Rate) ​ Note: • Wallet Balance = Transfer In - Transfer Out + Realized PNL • Maintenance Margin = Position Value * Maintenance Margin Rate - MMQC • Isolated Margin Position Value = Contract Quantity * Par Value * Entry Price • Cross Margin Position Value = Contract Quantity * Par Value * Mark Price • MMQC please refer to this <a href="https://www.bydfi.com/en/swap-info?page=5&type=usdt" target="">page</a>

Liquidation Price Calculation (USDT-M)

USDT-M Liquidation Price Calculation｜BYDFi Help Center

<img src="https://uploads.bydfi.in/events/cms1736162438914FakcSwX4Wd9W.png" alt="image.png" data-href="" style="width: 100%;"/>Initial MarginInitial margin refers to the minimum collateral amount required to open a position in leveraged trading. The leverage used by traders is inversely proportional to the initial margin required to hold a position. The higher the leverage, the less initial margin is required. In the USDT-M Perpetual Contract, the initial margin is obtained by multiplying the order value by the initial margin rate. The initial margin rate depends on the leverage used. Initial Margin = Contract Quantity * Entry Price / Leverage Example:FIBO opened a long order of 0.5 BTC at 30,000 USDT with 100X leverage.Initial Margin = (0.5 * 30,000) / 100 = 150 USDT Maintenance MarginThe maintenance margin is the minimum amount of margin a trader needs to keep a position open. The maintenance margin will increase or decrease based on the risk limit chosen by the trader. By default, the risk limit for all trading pairs will start from the lowest maintenance margin in their respective <a href="https://www.bydfi.com/en/swap-info?page=5&amp;type=usdt" target="_blank">risk limit tables.</a> When the margin level used for a position is lower than the maintenance margin level, the position will be liquidated. Position Value = Contract Quantity * Entry PriceMaintenance Margin = Maintenance Margin Rate * Position Value - <a href="https://www.bydfi.com/en/swap-info?page=5&amp;type=usdt" target="_blank">MMQC</a>The required Maintenance Margin Rate (MMR) for a position is based on the margin level requirement for the value of the position. Example:FIBO opened a long position of 1 BTC at 10,000 USDT with 100X leverage in isolated mode.Initial Margin = 1 BTC * 10,000 * 1/100 = 100 USDTMaintenance Margin = 1 BTC * 10,000 * 0.5% = 50 USDT This means that the position's maximum loss is 50 USDT (100 USDT - 50 USDT); otherwise, it will be forced to liquidate.

Initial Margin and Maintenance Margin (USDT-M)

Initial & Maintenance Margin (USDT-M)｜BYDFi Help Center

Learn how to trade USDT-Margined perpetual contracts on the BYDFi app in just a few easy steps. This guide will walk you through everything from placing your first trade to managing positions and understanding key features. <h2>🔁 Important Notes Before You Start Trading</h2><ul><li>Transfer Funds: To trade USDT-M contracts, make sure you transfer assets from your Spot Wallet to your USDT-M Wallet via the Transfer page.</li><li>Deposit First: If your balance is zero, deposit USDT before starting.</li><li>Trade History Retention: Your trading history is stored for up to 3 months. Export data if needed for long-term records.</li><li>Liquidation Warning: The liquidation price shown is only an estimate. A forced liquidation occurs automatically when the margin ratio hits 100%. Learn more about forced liquidation. &nbsp;👉 <a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/mstolr0em3cy" target="_blank">The Process of Forced Liquidation (USDT-M)</a></li></ul> <h2>📱How to Trade USDT-M Contracts on BYDFi App</h2><h3>1. Open the BYDFi App and Tap “Futures”</h3>From the bottom navigation bar, tap “Futures” to enter the USDT-M perpetual contract trading section.<img src="https://uploads.bydfi.in/events/cms/BYD.1750992012875.image.png" alt="BYD.1750992012875.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1750992012875.image.png" style="width: 50%;"/><h3>2. Choose a Trading Pair</h3>Browse the market list or use the search bar to find your desired trading pair (e.g., BTC/USDT, ETH/USDT).<img src="https://uploads.bydfi.in/events/cms/BYD.1750992064668.image.png" alt="BYD.1750992064668.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1750992064668.image.png" style="width: 50%;"/><h3>3. Select an Order Type</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1750992132381.image.png" alt="BYD.1750992132381.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1750992132381.image.png" style="width: 50%;"/>Choose between:<ul><li>Limit Order: Set your own price to buy or sell.</li><li>Market Order: Execute the order at the best available market price.</li><li>Stop Limit Order Set a trigger price and a limit price. Once the market reaches the trigger price, a limit order will be placed at your chosen limit price.</li><li>Stop Market Order Set a trigger price, and once it’s reached, the system will execute a market order immediately at the best available price.</li></ul>📌 Tip: Use Stop Limit and Stop Market orders to manage risk and automate entry or exit strategies. <h3>4. Set Your Margin Mode</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1750992426412.image.png" alt="BYD.1750992426412.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1750992426412.image.png" style="width: 50%;"/>Tap the [Margin Mode] button to choose between:<ul><li>Cross Margin Shares margin balance across all open positions in the same account. Suitable for experienced traders who want to reduce the risk of liquidation on a single position.</li><li>Isolated Margin Limits margin to the specific position. Losses are confined to the margin allocated to that position, offering better risk control.</li></ul>✅ Tip: Isolated margin is recommended for beginners to avoid unnecessary liquidation across your portfolio. <h3>5. Adjust Your Leverage</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1750992519721.image.png" alt="BYD.1750992519721.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1750992519721.image.png" style="width: 50%;"/>Tap the [Leverage] button to set your desired leverage level:<ul><li>Adjustable from 1x to 125x, depending on the trading pair.</li><li>Higher leverage amplifies both potential gains and risks.</li></ul>⚠️ Reminder: Use high leverage cautiously. Always evaluate your risk tolerance and consider using stop-loss orders. <h3>6. Set Trading Unit and Quantity</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1750992633185.image.png" alt="BYD.1750992633185.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1750992633185.image.png" style="width: 50%;"/><ul><li>Choose the unit (e.g., USDT, contracts, or coins).</li><li>Enter the trade amount based on your preference.</li></ul> <h3>7. Review Trading Rules</h3>Tap the 【...】 icon in the upper-right corner to view detailed trading rules, fee structures, funding rates, and other contract terms.<img src="https://uploads.bydfi.in/events/cms/BYD.1750992708024.image.png" alt="BYD.1750992708024.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1750992708024.image.png" style="width: 50%;"/> <h3>8. Go Long or Short</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1750992767854.image.png" alt="BYD.1750992767854.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1750992767854.image.png" style="width: 50%;"/><ul><li>Tap “Long” if you anticipate the price will rise.</li><li>Tap “Short” if you expect the price will fall.</li></ul> <h3>9. Monitor Open Positions</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1750992800445.image.png" alt="BYD.1750992800445.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1750992800445.image.png" style="width: 50%;"/>After opening a position, you can check details under the “Positions” tab:<ul><li>Entry price</li><li>Position size</li><li>Margin ratio</li><li>Unrealized profit/loss (PNL)</li><li>Take-profit/stop-loss (TP/SL) status</li></ul> <h3>10. View Pending Orders</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1750992846685.image.png" alt="BYD.1750992846685.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1750992846685.image.png" style="width: 50%;"/>Unfilled orders (like limit orders or TP/SL orders) are listed under the “Orders” tab. You can edit or cancel them anytime before execution. <h3>11. Access Order and Fund History</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1750992881893.image.png" alt="BYD.1750992881893.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1750992881893.image.png" style="width: 50%;"/>Tap the “History” tab to view:<ul><li>Past trades</li><li>Funding payments</li><li>Deposit/withdrawal records</li></ul> <h2>📌 Need Help?</h2>If you have questions or encounter issues while trading, contact BYDFi Customer Support via in-app chat or email us at <a href="mailto:cs@bydfi.com" target="_blank">cs@bydfi.com</a>. 👉 <a href="https://www.youtube.com/watch?v=tloeVIsVv0A" target="_blank">YouTube Tutorial</a>

How to Trade USDT-M Contract on BYDFi (APP)

How to Trade USDT-M Contract on BYDFi (APP)｜BYDFi Help Center

Learn how to trade USDT-Margined perpetual contracts on the BYDFi website (PC) in just a few easy steps. This guide will help you understand how to place trades, manage positions, adjust leverage, and more. <h2>🔁 Important Notes Before You Start Trading</h2><ul><li>Transfer Funds: Ensure you transfer your assets from the Spot Wallet to the USDT-M Wallet via the Transfer page.</li><li>Deposit First: If your balance is zero, deposit USDT before starting.</li><li>Trade History Retention: Trading history is only stored for 3 months. Export data if needed.</li><li>Liquidation Warning: The liquidation price shown is only an estimate. Forced liquidation occurs automatically when the margin ratio reaches 100%. Learn more about forced liquidation. 👉 <a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/mstolr0em3cy" target="_blank">The Process of Forced Liquidation (USDT-M)</a></li></ul> <h2>🖥️ How to Trade USDT-M Contracts on BYDFi (PC)</h2><h3>1. Log in and Navigate to the Futures Market</h3>Click Futures on the top navigation bar and select USDT-M to access the perpetual contracts trading page.<img src="https://uploads.bydfi.in/events/cms/BYD.1754451383175.image.png" alt="BYD.1754451383175.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1754451383175.image.png" style="width: 100%;"/><h3>2. Choose a Trading Pair</h3>Use the market list or search bar on the left to select your preferred trading pair (e.g., BTC/USDT, ETH/USDT).<img src="https://uploads.bydfi.in/events/cms/BYD.1754451637165.image.png" alt="BYD.1754451637165.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1754451637165.image.png" style="width: 100%;"/><h3>3. Select an Order Type</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1754451568158.image.png" alt="BYD.1754451568158.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1754451568158.image.png" style="width: 100%;"/>Choose from the following order types under the trading panel:<ul><li>Limit Order: Set your own buy/sell price.</li><li>Market Order: Execute instantly at the best market price.</li><li>Stop Limit Order: Place a limit order once your trigger price is reached.</li><li>Stop Market Order: Place a market order once your trigger price is reached.</li></ul>📌 Tip: Use Stop Orders for risk management and to automate entries/exits. <h3>4. Set Your Margin Mode</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1754452168485.image.png" alt="BYD.1754452168485.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1754452168485.image.png" style="width: 100%;"/>Click the Cross / Isolated toggle above the trading panel:<ul><li>Cross Margin: Shares margin across all open positions in the account.</li><li>Isolated Margin: Margin is confined to each individual position.</li></ul>✅ Isolated Margin is recommended for beginners to avoid cross-position liquidation. <h3>5. Adjust Your Leverage</h3>Click the Leverage selector and choose your preferred leverage (1x–200x depending on the pair).⚠️ Caution: Higher leverage increases both potential profits and risks. Always use it carefully.<img src="https://uploads.bydfi.in/events/cms/BYD.1754452216601.image.png" alt="BYD.1754452216601.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1754452216601.image.png" style="width: 100%;"/><h3>6. Set Trading Unit and Amount</h3>Select your preferred unit (e.g., USDT, Quantity, or Cost) and input your trade quantity.<img src="https://uploads.bydfi.in/events/cms/BYD.1754452108490.image.png" alt="BYD.1754452108490.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1754452108490.image.png" style="width: 100%;"/><h3>7. Go Long or Short</h3><ul><li>Click Long if you believe the price will increase.</li><li>Click Short if you expect the price will fall.</li></ul><img src="https://uploads.bydfi.in/events/cms/BYD.1754451927191.image.png" alt="BYD.1754451927191.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1754451927191.image.png" style="width: 100%;"/><h3>8. Monitor Your Open Positions</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1754452381143.image.png" alt="BYD.1754452381143.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1754452381143.image.png" style="width: 100%;"/>Once your trade is active, view real-time details under the Positions tab:<ul><li>Entry Price</li><li>Position Size</li><li>Liquidation Price</li><li>Margin Ratio</li><li>Unrealized PNL</li><li>TP/SL Settings</li></ul> <h3>9. View and Manage Pending Orders</h3>All unfilled orders (like limit, stop, or TP/SL orders) are shown under the Open Orders tab. You can modify or cancel them anytime before execution.<img src="https://uploads.bydfi.in/events/cms/BYD.1754452528327.image.png" alt="BYD.1754452528327.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1754452528327.image.png" style="width: 100%;"/><h3>10. Access History and Fund Records</h3><img src="https://uploads.bydfi.in/events/cms/BYD.1754453341537.image.png" alt="BYD.1754453341537.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1754453341537.image.png" style="width: 100%;"/>Click the History tab to view:<ul><li>Order History: Records of all order placements</li><li>Trade History: Records of all filled orders</li><li>Position History: Details of closed positions</li><li>Transaction History: Records of deposits, withdrawals, and internal transfers</li></ul> <h2>📌 Need Help?</h2>For any issues or inquiries, contact BYDFi Customer Support via the live chat on the website or email us at <a href="mailto:cs@bydfi.com" target="_blank">cs@bydfi.com</a>.

How to Trade USDT-M Contract on BYDFi (PC)

How to Trade USDT-M Contract on BYDFi (PC)｜BYDFi Help Center

<html>
 <head></head>
 <body>
 <img src="https://uploads.bydfi.in/events/cmsBYD.1735298049579.image.png" alt="BYD.1735298049579.image.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735298049579.image.png" style="width: 100%;">Regardless of any trades, it is important to understand how P&amp;L is calculated before entering one. We will introduce them one by one in order so that traders can understand exactly how the following variables affect the calculation of profit and loss.
 
 Average Entry Price (AEP) of Position
 In BYDFi's USDT-M trading, whenever traders add on to their position, the average entry price will change.
 
 Example: FIBO now holds a long position of 0.1 BTCUSDT with the opening price of 40,000 USDT. An hour later, FIBO decides to open an additional position of 0.1 with an opening price of 42,000 USDT.
 
 Average Entry Price = Total Contract Value in USDT / Contract Quantity Total Contract Value = [(Contract Quantity 1 * Price 1) + (Contract Quantity 2 * Price 2)...]
 
 Total Contract Value = [ (Contract Quantity 1 * Price 1) + (Contract Quantity 2 * Price 2) ]
 = [ (0.1 * 40,000) + (0.1 * 42,000) ] = 8,200
 
 Contract Quantity = 0.1 + 0.1= 0.2 BTC Average Entry Price = 8,200 / 0.2 = 41,000
 
 Unrealized Profit and Loss (P&amp;L)
 Once the order is filled, the position and its unrealized profit and loss can be instantly seen in the position area.
 The formula for calculating unrealized profit and loss will be different according to the direction of your trade. Long Positions Example: FIBO holds a long position of 0.2 BTCUSDT with an entry price of 41,000 USDT. When the current mark price in the position table is displayed as 43,000 USDT, the unrealized profit and loss will be displayed as 400 USDT.
 Unrealized Profit and Loss = Contract Quantity * (Current Mark Price - Position Entry Price)
 = 0.2 * (43,000 - 41,000)= 400 USDT
 
 Short Positions Example: FIBO holds a short position of 0.4 BTCUSDT with an entry price of 40,000 USDT. When the current mark price in the order table is displayed as 39,000 USDT, the unrealized profit and loss will be displayed as 400 USDT. Unrealized Profit and Loss = Contract Quantity * (Position Entry Price - Current Mark Price)
 = 0.4 * ( 40,000 - 39,000) = 400 USDT Notice:
 <ul>
 <li>In USDT-M Perpetual Contracts, your profit and loss are settled in USDT. This is the exact opposite &nbsp;of COIN-M Perpetual Contracts, which are settled in the currency being traded (e.g., a BTCUSD COIN-M Perpetual Contract is settled in BTC).</li>
 <li>A fluctuation in price (e.g., 1000 USDT) in either direction, assuming a position size of 1 BTC, means that the trader has made or lost 1000 USDT.</li>
 <li>When the leverage is increased, it will not directly affect your profit or loss. On the contrary, profit and loss are determined by position size and price fluctuations. In simple terms: The higher the leverage, the lower the margin collateral needed to open your position. The larger the contract quantity, the bigger the profit or loss. The larger the price movement relative to the entry price, the bigger the profit or loss.</li>
 <li>The default unrealized P&amp;L is shown based on the Last Mark Price. Place the mouse on the displayed number and the unrealized P&amp;L will be displayed at the mark price.</li>
 <li>Lastly, it is important to note that the calculation of unrealized P&amp;L does not include any transaction fees or funding fees paid or received by the trader in the course of opening, closing, or holding a position.</li>
 </ul>
 Percentage of Unrealized P&amp;L (%)
 The rate of return basically shows the return on investment (ROI) of this position in percentage terms. Just like unrealized profit and loss, this figure is constantly changing with the latest market price. Therefore, the formula for the percentage of unrealized profit and loss is as follows:
 
 Percentage of Unrealized P&amp;L (%) = [Unrealized Profit and Loss / Position Margin] * 100% Position Margin = Initial Margin + Closing Fee
 
 For example, FIBO holds a long position of 0.2 BTCUSDT, and the entry price is 41,000 USDT. When the latest market price is displayed as 43,000 USDT, the unrealized profit and loss will be displayed as 400 USDT. The leverage is 10X.
 
 Based on the previous calculation, the unrealized profit and loss of the position = 400 USDT Initial Margin = (Contract Quantity * Entry Price) / Leverage= (0.2 * 41,000) / 10 = 820 USDT Closing Fee = Bankruptcy Price * Contract Quantity * 0.06% = 36877.86 * 0.2 * 0.06% = 4.4253USDT Percentage of Unrealized P&amp;L (%) = [ 400 USDT / ( 820 USDT + 4.4253 USDT ) ] * 100% = 48.52%
 
 Notice:
 <ul>
 <li>There is a misconception among some traders that increasing your leverage will not increase your unrealized profit. An increase in the P&amp;L% is actually due to the decrease in the margin used for the position, not an increase in the actual profit. Using FIBO as an example again, notice that regardless of leverage is 10X, 5X, or 50X, the unrealized P&amp;L remains the same. If FIBO uses the leverage of 10X, Unrealized P&amp;L = 400 USDT and the Percentage of Unrealized P&amp;L = 48.52% If FIBO lowers the leverage to 5X, Unrealized P&amp;L = 400 USDT and the Percentage of Unrealized P&amp;L = 24.32% If FIBO increases the leverage to 50X, Unrealized P&amp;L = 400 USDT and the Percentage of Unrealized P&amp;L = 237.49% </li>
 <li>For cross-margin mode, the position margin will be calculated based on the maximum leverage used for the particular currency (for example, BTCUSDT = 125X).</li>
 </ul>
 Closed P&amp;L
 When the trader finally closes the position, the profit and loss are finally realized, and the record can be found in the trade history.
 <table style="width: 100%;">
 <tbody>
 <tr>
 <td colspan="1" rowspan="1" width="506.03"> </td>
 <td colspan="1" rowspan="1" width="486.76" style="text-align: center;">Calculation of Unrealized P&amp;L </td>
 <td colspan="1" rowspan="1" width="402.23" style="text-align: center;">Calculation of Closed P&amp;L</td>
 </tr>
 <tr>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">Position Profit and Loss (P&amp;L)</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
 </tr>
 <tr>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">Trading Fee(s)</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">NO</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
 </tr>
 <tr>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">Funding Fee(s)</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">NO</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
 </tr>
 </tbody>
 </table>
 Closed P&amp;L = Position P&amp;L - Opening Fee - Closing Fee - Total Funding Fee Paid/Received
 FIBO holds a short position of 0.4 BTCUSDT with an entry price of 40,000 USDT. When the latest market price is displayed as 39,000 USDT, the unrealized profit and loss will be displayed as 400 USDT. FIBO decides to close the entire position through the market price. FIBO opened the position through a market order, and paid a total of 4.2 USDT of funding fees during the holding period.
 
 Based on our previous calculation: Position P&amp;L = 400 USDT (Profit) Opening Fee = Contract Quantity * Entry Price * 0.06% = 9.60 USDT Closing Fee = Contract Quantity * Closing Price * 0.06% = 9.36 USDT Total Funding Charges Paid/Received = 4.20 USDT (Paid) Closed P&amp;L = 400 - 9.60 - 9.36 - 4.20 = 376.84 USDT
 
 Notice:
 <ul>
 <li> The above example only applies to the opening and closing of the position with a single order. &nbsp;</li>
 <li> For a partial closing, the closing P&amp;L is calculated proportionally to all fees (opening fees and funding fees), based on the percentage of the partial closing, and then proportionally displayed in the closing P&amp;L.</li>
 </ul>
 
 </body>
</html>

P&L Calculations (USDT-M)

P&L Calculation (USDT-M)｜BYDFi Help Center

<img src="https://uploads.bydfi.in/events/cms1736162424272cagpwi7ZjxIW.png" alt="image.png" data-href="" style="width: 100%;"/>Isolated ModeWhen the position margin ratio reaches 100%, the position will be triggered liquidation with a liquidation transaction fee and a liquidation clearance fee. Please note that the position is triggered by the margin ratio, liquidation price is for reference only. Cross ModeWhen the position margin ratio reaches 100%, the position will be triggered liquidation with a liquidation transaction fee and a liquidation clearance fee. Please note that the position is triggered by the margin ratio, liquidation price is for reference only. In addition, all the cross mode positions share the same margin, so as long as one cross mode position triggers liquidation, all the cross mode positions will be closed regardless of whether they are profitable or not. Example: FIBO holds a 1.5 million BTCUSDT long position + 1 million BTCUSDT long limit order.When the position margin ratio ≥100%, the system will first cancel the 1 million BTCUSDT limit order. This releases a portion of the margin to increase the available balance in an attempt to meet the maintenance margin requirement. If the position is still not margined to the maintenance margin requirement after the limit order is canceled, the liquidation engine will take over the position. The specific liquidation process is as follows:<ul><li>Cross Mode: Cancel all pending orders (including all pending orders in Isolated Mode)</li><li>Isolated Mode: Cancel all pending orders including TP/SL orders for the specified trading pair (other trading pairs are not affected)</li><li>If the margin maintenance requirement is not met at this point, the position will be taken over by the liquidation engine at the bankruptcy price.</li></ul>When the liquidation is executed at the bankruptcy price, the following scenario occurs:<ul><li>If the position can be executed in the market at a price better than the bankruptcy price, the liquidation clearance fee will be added to the insurance fund.</li><li>If the position cannot be executed at a price better than the bankruptcy price, the breakout loss will be covered by the insurance fund.</li></ul>Automated Negative Balance ClearanceIf a trader’s account balance is negative due to one or more Bankrupt Positions, BYDFi will use the Futures Insurance Fund to automatically cover the deficit in the trader's account and absorb the losses, to the extent possible. For user accounts that meet the following requirements, our system will automatic clearing of negative balances will occur every 10 minutes:<ul><li>For negative balances in USDT-M accounts, there are no open positions in the account. (Both Cross / Isolated Mode)</li><li>For negative balances in Coin-M accounts, there are no open positions in the account. (Both Cross / Isolated Mode)</li><li>The user did not transfer any funds to deficit losses in the account after liquidation.</li></ul>Note:<ul><li>Isolated Margin Ratio = (Maintenance Margin + Closing Fee) / (Position Margin + Unrealized PNL) * 100%</li><li>Cross Margin Ratio = (Maintenance Margin + Closing Fee) / (Wallet Balance + Bonus Balance - Isolated Frozen Margin + Cross Margin Unrealized PNL) * 100%</li><li>Isolated Margin Liquidation Clearance Fee≈ Position Margin + Liquidation PNL - Liquidation Transaction Fee</li><li>Cross Margin Liquidation Clearance Fee ≈ Wallet Balance + Liquidation PNL - Liquidation Transaction Fee</li><li>Liquidation Transaction Fee = Position Value * Quantity * Mark Price * Liquidation Transaction Fee Rate</li></ul> Risk Control PolicyWhen the margin balance is insufficient, we will send a margin call and a liquidation notice to the user by email. This feature serves as a risk alert that cannot be guaranteed to be sent or delivered in a timely manner. Under certain circumstances (including due to network congestion and poor network conditions), you may be unable or delayed in receiving email alerts during your use of the service, and BYDFi reserves the right to send notifications without obligation. To prevent excessive market risk concentration and manipulation, BYDFi limits individual users' position size. Orders exceeding these limits will be rejected. Additionally, we strictly prohibit users from circumventing position limits through any means, such as multiple accounts, identity masking, third-party account control, or exploiting system vulnerabilities, to maintain market fairness.

The Process of Forced Liquidation (USDT-M)

Forced Liquidation Process (USDT-M)｜BYDFi Help Center

<img src="https://uploads.bydfi.in/events/cms17361624003555thABVCJESPY.png" alt="image.png" data-href="" style="width: 100%;"/>What is the USDT-M Perpetual Contract? <a href="https://www.bydfi.com/en/swap/btc-usdt" target="_blank">The USDT-M Perpetual Contract,</a> also called a forward contract, is often referred to as a USDT-margined contract. What are the differences between USDT-M and COIN-M Perpetual Contracts?Intuitive Margin and P&L Calculation: In USDT-M Perpetual Contracts, both margin and profit/loss (P&L) are calculated in USDT, providing an intuitive experience. For example, in a 1 BTC contract, a 100 USDT price fluctuation results in a gain or loss of 100 USDT. The P&L directly follows the USDT value curve.Stability of Margin: COIN-M Perpetual Contracts are coin-margined, so traders must hold more volatile assets like BTC, ETH, EOS, or XRP as margin, exposing them to coin-holding risks even if they don’t actively trade. In contrast, USDT-M Perpetual Contracts use stablecoin as margin, reducing exposure to currency volatility and eliminating the need for hedging against coin-holding risks. How much leverage does the USDT-M Perpetual Contract support?The maximum leverage of each trading pair is different; please refer to <a href="https://www.bydfi.com/en/swap-info?page=4&type=usdt" target="_blank">USDT-M Perpetual Contracts Trading Rules</a><a href="https://support.bityard.com/hc/en-us/articles/5657651686297-USDT-Pepetual-Contract-Trading-Rules" target="">.</a> Can I hold long side and short side positions at the same time?Yes, users can use "Hedge" mode to hold both side positions at the same time. Can the cross-margin mode and isolated margin mode of the USDT-M Perpetual Contract be switched in real time?BYDFi supports switching between the isolated/cross modes when there are no holding positions.When there is an open position or a limit order, switching between the isolated/cross modes is not supported. What is the Risk Limit? BYDFi implements a tiered margin system, with different levels based on the value of user positions. The larger the position, the lower the leverage allowed, and the initial margin rate is higher when opening a position. The larger the value of the contract held by the trader, the lower the maximum leverage that can be used. Each contract has a specific maintenance margin rate, and margin requirements increase or decrease as risk limits change. Can the unrealized Profit be used to open positions? Yes, in cross-margin mode, unrealized profit can be used to open new positions, enhancing capital efficiency. Is the insurance pool for USDT-M Perpetual Contracts shared or currency-independent? Unlike COIN-M Perpetual Contracts that use the currency standard for settlement, USDT-M Perpetual Contracts are all settled in USDT. The <a href="https://www.bydfi.com/en/swap-info?page=2&type=usdt" target="_blank">insurance pool </a>of USDT-M Perpetual Contracts is also shared by all contracts.

USDT-M Perpetual Contracts FAQ

USDT-M Perpetual Contracts FAQ｜BYDFi Help Center