XT Exchange

What are Coin-Margined Delivery Futures and How to Trade them on XT

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What are Coin-Margined Delivery Futures?

Coin-Margined Delivery Futures are a type of fixed-term futures that use digital assets (such as BTC, ETH) as margin and settlement units. Unlike perpetual futures, they have a clearly defined expiration and delivery date, allowing traders to use the underlying asset (e.g., BTC) for trading without converting it into fiat currency or stablecoins. Upon expiry, any open futures positions will be settled based on the arithmetic average price of the index over the last hour.

Features of Coin-Margined Delivery Futures

Use Digital Assets as Margin and Settlement Units
Traders must hold cryptocurrencies such as BTC or ETH as margin, and profits or losses are settled in the same asset.

Clear Expiry and Delivery Mechanism
The futures have a fixed expiration date (e.g., weekly, monthly, or quarterly). Upon expiration, open positions are settled in cash based on the arithmetic average of the index price in the last hour rather than through physical delivery.

No Funding Fees
Unlike perpetual futures, Coin-Margined Delivery Futures do not involve funding fees, making them suitable for long-term holding strategies.

Suitable for Various Trading Strategies
With a defined trading cycle and controlled funding costs, they are ideal for trend trading, arbitrage trading, and hedging strategies.

How to Trade Coin-Margined Delivery Futures on XT?

  1. Access the Coin-Margined Delivery Trading Page
    Log in to your XT account, navigate to the [Derivatives] section on the homepage, and select [Coin-Margined Futures] → [Delivery] to enter the trading page.
  2. Open a Futures Account
    Before placing your first trade, you need to open a Futures account. The trading page provides real-time market data, order book views, and position tracking.
  3. Transfer Funds
    Coin-Margined Delivery Futures require digital assets like BTC or ETH as margin. For example, if trading BTC/USD delivery Futures, you must use BTC as collateral. If your account balance is insufficient, click [Transfer] to move assets from your spot account to your Futures account.
  4. Adjust Units
    You can configure unit settings in the interface:
    • Quantity Units:
      • Cont: Measured by the number of contracts, where each contract represents a certain value of the underlying asset (e.g., 1 contract = $100 BTC value).
      • USD: Measured by the USD value of futures for a clearer view of the position value.
    • Cost Value:
      • Selecting BTC means transaction costs are calculated in BTC and remain unchanged regardless of leverage adjustments.
    • Notional Value:
      • Selecting BTC means the market value of the underlying asset is displayed in BTC and varies based on leverage.

  5. Adjust Leverage & Margin Mode
    XT supports up to 100x leverage. You can adjust leverage based on initial and maintenance margin requirements. XT offers two margin modes:

    • Cross Margin: Uses all available margins in the account to cover the risk.
    • Isolated Margin: Each position has its own margin, ensuring losses do not affect other positions.

    By default, all traders start in Cross Margin Mode.

  6. Place an Order
    Once your futures account is funded, you can choose from the following order types:

    • Limit Order: Set a specific price and wait for market execution.
    • Market Order: Instantly execute at the best available market price.

    Select [Open Long] (bullish) or [Open Short] (bearish), adjust the order quantity using the slider, and click [Confirm] to execute.

  7. Risk Management
    You can enable Take Profit/Stop Loss in the [Advanced] section to automatically close positions when price targets are met.
    • Open Long: Buy at a lower price, then sell at a higher price to profit.
    • Open Short: Sell at the current price, then buy at a lower price to profit.
  8. Settlement Mechanism
    Upon futures expiration, open positions will be cash-settled based on the arithmetic average of the index price in the last hour. The futures position is automatically cleared upon settlement.

About XT.COM

Founded in 2018, XT.COM now serves nearly 8 million registered users, over 1,000,000+ monthly active users, and 40+ million users in the ecosystem. Our comprehensive trading platform supports 800+ high-quality tokens and 1000+ trading pairs. XT.COM crypto exchange supports a rich variety of trading, including spot trading, margin trading, and futures trading, along with an aggregated NFT marketplace.

We are committed to providing a secure, efficient, and professional digital asset trading experience.

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