Dear Users:
BKEX Super Contract will support KISHU, SANSHU and FEG as margin to participate in contract trading with BTC/USDT and ETH/USDT index at 19:00 on May 14, 2021 (UTC+8).
1. Product introduction
Super Contract is a brand new trading mode anchored by a certain index price (such as BTC/USDT and ETH/USDT). Users can use any other tokens, especially some innovative tokens, to trade, and multi-level leverage ratio is provided. It improves the liquidity and use value of innovative currencies.
2. Limit of orders placing
|
Token |
Min. trading quantity |
Max. trading quantity |
User's single unilateral maximum position |
Index underlying |
|
KISHU |
80,000,000 |
240,000,000,000 |
240,000,000,000 |
BTC/USDT ETH/USDT
|
|
SANSHU |
200,000,000 |
600,000,000,000 |
600,000,000,000 |
|
|
FEG |
30,000,000 |
90,000,000,000 |
90,000,000,000 |
3. Relevant fees
- Handling fee rate of opening position: 0.07%
- Handling fee rate of closing position: 0.07%
- Position management fee rate: 0.1%
4. PnL calculation
- Yield = Unrealized PnL / position margin * 100% (position margin = opening margin)
- Long PnL = (exit price - entry price) / entry price * opening margin * leverage
- Short PnL = (entry price - exit price) / entry price * opening margin * leverage
-
To calculate the floating PnL when holding position, just replace the exit price with the current price
5. Forced liquidation calculation
- Long blow-up forced liquidation price =entry price * {1- [opening margin * (1 - blow-up margin rate) - Handling fee of opening position - Position management fee] / (leverage ratio * position margin)}
- Short blow-up forced liquidation price = entry price * {1+ [opening margin * (1 - blow-up margin rate) - Handling fee of opening position - Position management fee] / (leverage ratio * position margin)}
6. Rules of management fee
- The position management fee will be charged every 8 hours and the specific charging time is 04:00, 12:00 and 20:00 (UTC+8) every day. Users need to pay position management fee only when users hold position at the time points. If users close positions before fee charging, users don't need to pay position management fee.
- Position management fee= Position amount * leverage ratio * Position management fee rate (Poaition amount= margin amount * leverage ratio + floating PnL)
- Position management fee will be deducted from position margin
Risk Warning: Digital assets are innovative investment products with great prices fluctuation. Please make a rational judgment on your investment ability and make investment decisions cautiously. BKEX Global shall not be liable for guarantee, compensation, etc. for investment. We wish you a pleasant deal.
BKEX Global
05/14/2021
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