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Margins & PNL Calculations

2020-06-09

#FAQ#Trading Fee

MEXC offers two kinds of contracts: USDT-M and COIN-M contracts. The USDT-M contract is quoted in USDT and settled in USDT while the COIN-M contract is quoted in USDT and settled in BTC. The principle of calculation is similar but there are some slight differences. Please note that during the calculation, trading fee and other complex components will not be taken into account. The aim is to explain how margin is calculated to users. <ol> <li> Margins Explained</li> </ol> All MEXC perpetual contracts require a certain amount of margin to open a position. Successful margin trading requires an understanding of the following concepts: Starting Margin: This minimum margin required to open a position. Your starting margin is dependent on margin rate requirements. Maintenance Margin: The minimum margin requirement for maintaining a position below which additional funds will have to be deposited or forced liquidation may occur. Opening Cost: The total amount of funds required to open a position, including the initial margin for opening a position and transaction fees. <ol start="2"> <li> Margin calculation</li> </ol> In perpetual contracts, the order cost is the margin required to open a position. The actual cost is determined by whether the order is executed by a maker or taker because varying fees apply. COIN-M contract: Order cost (margin) = number of open positions * futures size / (leverage multiplier * avg. entry price) USDT-M contract: Order cost (margin) = avg. entry price * number of open positions * futures size / leverage multiplier Examples: COIN-M Contracts If a trader wants to purchase 100 BTC/USDT perpetual contracts at the price of 7,000USD with a leverage multiplier of 25, and the value of each contract is 100 USD, then the margin required = 100x100 / (7000x25 ) = 0.0571BTC. USDT-M Contracts If a trader wants to purchase 10,000 BTC/USDT perpetual contracts at the price of 7,000USDT with leverage multiplier of 25, and the value of each contract is 0.0001BTC, then the margin required = 10000x0.0001x7000/25 = 280 USDT. <ol start="3"> <li> PNL Calculation</li> </ol> PNL calculation includes fee income or expenditure, funding fee income or expenditure, and PNL upon closing a position. Fee The expenditure of the taker = Position value * Taker fee The expenditure of the maker = Position value * Maker fee Funding fee According to the negative or positive funding fee rate and the long or short position held, the trader will pay or receive funding fee. Funding fee = funding fee rate * position value Note: The position value is calculated from the fair price when the funding fee rate is settled. Closing PNL: USDT-M Contract Long position = (exit price - avg. entry price) * number of holding positions * futures size Short position = (avg. entry price - exit price) * number of holding positions * futures size COIN-M Contract Long position = (1/avg. entry price - 1/avg. exit price) * number of holding positions * futures size Short position = (1/avg. exit price - 1/avg. entry price) * number of holding positions * futures size Floating PNL USDT-M Contract Long position = (fair price - avg. entry price) * number of holding positions * futures size Short position = (avg. entry price - fair price) * number of holding positions * futures size COIN-M Contract Long position = (1/avg. entry price - 1/fair price) * number of holding positions * futures size Short position = (1/fair price - 1/avg. entry price) * number of holding positions * futures size For example, a trader purchases 10,000 cont. long for BTC/USDT perpetual contract at the price of 7,000USDT as a taker. If the taker fee is 0.06%, the maker fee is 0.02%, the funding fee rate is -0.025%, and the current fair price is 7000USDT, then the trader shall pay a taker fee of: 7000*10000*0.0001*0.06% = 4.2USDT and the trader pays a funding fee of: 7000*10000*0.0001*-0.025% = -1.75USDT In this situation, the negative value means that the trader receives the funding fee instead. When said trader closes 10,000 cont. BTC/USDT perpetual contract at 8,000USDT, then the closing PNL is: (8000-7000) *10000*0.0001 = 1000 USDT And the closing fee can be calculated as follows: 8000*10000*0.0001*0.02% = 1.6 USDT Hence, the realized PNL of the trader = 1000+1.75-4.2-1.6 = 995.95 USDT

Common Q&As

2020-06-08

#FAQ

<ol><li> What are perpetual futures?</li></ol> A perpetual futures contract is a cryptocurrency derivative similar to leveraged spot trading. Users can choose to buy long or sell short by predicting the change in price and gain from it. Unlike the traditional futures contract, perpetual futures contracts do not have settlement dates, and the index price is anchored by the funding rate. For more information, please refer to the introduction to perpetual futures. <ol><li> What is a mark price?</li></ol> The fair price refers to the marked price. It is used to calculate the unrealized PNL and liquidation price in futures trading. Fair price reflects the most reasonable price in the market. For more information, refer to >> <a href="https://mexc.zendesk.com/hc/en-001/articles/360044199872" rel="nofollow">Fair Price</a> <ol><li> What is the maximum leverage multiplier in MEXC Futures?</li></ol> MEXC Futures supports 1-200x freely adjustable leverage, and the leverage multiplier varies by product. *MEXC Futures now supports up to 200x leverage. <ol><li> How much are futures trading fees?</li></ol> To encourage regular users and traders to instill liquidity into the market, the trading fees for regular users are 0.01% for Maker and 0.05% for Taker. <ol><li> How do I check the futures funding rate?</li></ol> Traders can see the current market funding rate in the “Funding Rate” section in the header of the chart. For past funding rates, please check the funding rate history. <ol><li> How to calculate futures PNL?</li></ol> Closing PNL: USDT-M Futures Long Position = (Exit Price - Average Entry Price) * Number of Positions * Futures Size; Short Position = (Average Entry Price - Exit price) * Number of Positions * Futures Size; Coin-M Futures Long Position = (1 / Average Entry Price - 1 / Average Exit Price) * Number of Positions * Futures Size; Short Position = (1 / Average Exit Price - 1 / Average Entry Price) * Number of Positions * Futures Size. Floating PNL: USDT-M Futures Long Position = (Fair Price - Average Entry Price) * Number of Positions * Futures Size; Short Position = (Average Entry Price - Fair Price) * Number of Positions * Futures Size; Coin-M Futures Long Position = (1 / Average Entry Price - 1 / Fair Price) * Number of Positions * Futures Size; Short Position = (1 / Fair Price - 1 / Average Entry Price) * Number of Positions * Futures Size. <ol><li> How to calculate liquidation price?</li></ol> Liquidation Condition: If Position Margin + Floating PNL <= Maintenance Margin, liquidation will occur. Long Position: Liquidation Price = (Maintenance Margin - Position Margin + Average Entry Price x Quantity x Futures Size) / (Quantity x Futures Size); Short Position: Liquidation Price = (Average Entry Price x Quantity x Futures Size - Maintenance Margin + Position Margin) / (Quantity x Face Value). For more details, please refer to >>> Liquidation & Risk Limits These rules form part of the Platform User Agreement and carry the same legal effect as the User Agreement.

Fair Price

2020-06-08

#FAQ#Beginner's Guide

Why is Fair Price Used for Calculating PNL and Liquidation Price?To enhance the stability of the futures market and reduce unnecessary forced liquidations during abnormal market fluctuations, MEXC uses a uniquely designed fair price marking system for perpetual futures. Without this system, market manipulation or lack of liquidity could lead to deviations between the intraday price and the price index, resulting in unnecessary forced liquidations. Fair Price Marking MechanismPlease note that this price only affects the liquidation price and unrealized PNL. It does not have an impact on realized PNL.Note: This means that after your order is filled, you may immediately see positive or negative unrealized PNL. This occurence is due to the slight deviations between the fair price and the filled price. It is a normal occurrence and does not imply that you have lost funds. However, it is essential to monitor your liquidation price to prevent premature forced liquidation. The calculation method for the fair price of perpetual futures is as follows:Fair Price Calculation Formula = Median (Funding Rate Premium, Fair Mid-price of Basis, Last Price)Funding Rate Premium = Index Price * (1 + Latest<a href="https://futures.mexc.com/information/funding_list?symbol=BTC_USDT&type=linear_swap" style="text-decoration:none">Funding Rate</a> * (Hours Until Next Funding Rate Settlement / Hours in Funding Rate Settlement Cycle))Fair Mid-price of Basis =<a href="https://futures.mexc.com/information/index_price?symbol=BTC_USDT&type=linear_swap" style="text-decoration:none">Index Price</a> + Moving Average of Basis (Specified Cycle)Moving Average of Basis (Specified Cycle) = MA ((Best Bid Price + Best Ask Price) / 2 - Index Price)Last price refers to the latest traded price of the futures pair, updated in real-time. The fair price allows for a better estimation of the "true" value of the futures pair. For MEXC perpetual futures, the fair price is used to prevent unnecessary liquidations and deter market manipulation.

Types of Order on MEXC Futures

2020-06-08

#FAQ#Beginner's Guide#Futures

Limit Order Limit orders allow the trader to set a specific buying or selling price, and the order will be filled at the order price or at a price more favorable than the order price. When a limit order is submitted, if there is no order of which price is more favorable than or equal to the order price available for matching in the order book, the limit order will enter the order book to be filled, increasing the market depth. After the order is filled, the trader will be charged according to the more favorable maker fee. When a limit order is submitted, if an order of which price is more favorable than or equal to the order price is already available for matching in the order book, the limit order will be immediately filled at the current best available price. Because of the liquidity consumed during the order execution, a certain trading fee will be charged as the Taker fee expense. In addition, limit orders can also be used to partially or fully close a take profit limit order. The advantage of a limit order is that it is guaranteed to be filled at the specified price, but there also exists a risk that the order will not be filled. When using a limit order, the user can also switch the effective time type of the order according to their trading needs, and the default is GTC: - GTC (Good ‘Til Canceled Order): This type of order will remain valid until it is fully filled or canceled. - IOC (Immediate or Cancel Order): If this type of order cannot be filled immediately at the specified price, the unfilled part will be canceled. - FOK (Fill or Kill Order): This type of order will be canceled immediately if all orders cannot be filled. Market Order The market order will be filled at the best price available in the order book at the time. The order can be quickly filled without having the trader set the price. The market order guarantees the execution of orders but not the execution price, as it may fluctuate depending on market conditions. Market orders are typically used when a trader needs to make a quick entry to capture a market trend. Trigger Limit Order If the trigger price is set, when the benchmark price (market price, index price, fair price) selected by the user reaches the trigger price, it will be triggered, and a limit order will be placed at the order price and quantity set by the user. Stop Market Order If the trigger price is set, when the benchmark price (market price, index price, fair price) selected by the user reaches the trigger price, it will be triggered, and a market order will be placed with the quantity set by the user. Note: The user's funds or positions will not be locked when setting the trigger. The trigger may fail due to high market volatility, price restrictions, position limits, insufficient collateral assets, insufficient closeable volume, futures in non-trading status, system issues, etc. A successful trigger limit order is the same as a normal limit order, and it may not be executed. Unexecuted limit orders will be displayed in active orders. Trailing Stop Order A trailing stop order is a strategy order for tracking market prices, and its trigger price may change with latest market fluctuations. Trigger price calculation: Sell, Actual Trigger Price = Market's Historically Highest Price - Trail Variance (Price Gap), Or Market's Historically Highest Price * (1 - Trail Variance %) Buy, Actual Trigger Price = Market's Historically Lowest Price + Trail Variance, Or Market's Historically Lowest Price * (1 + Trail Variance %) Trailing orders allow users to select an activation price for the order, and the system will start calculating the trigger price only after the order is activated. Identification for Trailing Stop Order Trail variance: The trail variance is the main condition for calculating the actual trigger price. The actual trigger price will be calculated based on the highest/lowest price of the specified price type after the order activation and the trail variance. Quantity: The number of orders placed. Price type: You can select the last transaction price, fair price or index price as the criteria to activate and trigger trailing orders. Activation price: Activation price is the activation condition of a trailing order. When the price of the specified price type reaches or exceeds the activation price, the order will be activated. The system will only start calculating the actual trigger price upon activation. If the activation price is not defined, the order will be activated upon placement. For example: Case 1 (Sell the rip): The user wants to sell BTC without selecting the activation price (i.e. activate as soon as the order is placed) and the last transaction price is 30,000 USDT. Then, one may set the parameters as follows. [Trail Variance - Price Gap] 2,000 USDT [Quantity] 1 BTC [Price Type] Last Transaction Price In the event where the BTC price keeps increasing to the highest point of 40,000 USDT after the order is placed, and then retraces to 38,000 USDT, reaching the retracement condition (40,000 USDT - 2,000 USDT = 38,000 USDT), the system decides for the user to sell at the market price at 38,000 USDT. Case 2 (Buy the dip): The user wants to buy BTC and the last transaction price is currently 40,000 USDT. Then one may set the parameters as follows. [Trail Variance - Ratio] 5% [Activation Price] 30,000 USDT [Quantity] 1 BTC [Price Type] Last Transaction Price In the event where the BTC price keeps falling to 30,000 USDT after the order is placed, the trailing is activated, it then falls all the way to 20,000 USDT and bounces back to 20,000 USDT * (1 + 5%) = 21,000 USDT, reaching the retracement condition (5%), the system decides for the user to buy at the market price at 21,000 USDT. Post Only Post-only orders will not be filled in the market immediately, which ensures that the user is always a maker and enjoys the yield of the trading fee as a liquidity provider; at the same time, if the order is filled with an existing order, then the order will be canceled immediately. TP/SL TP/SL refers to the pre-set trigger price (take profit price or stop loss price) and trigger price type. When the last price of the specified trigger price type reaches the pre-set trigger price, the system will place a close market order according to the pre-set quantity in order to take profit or stop loss. Currently, there are two ways to place a stop loss order: <ol> <li style="font-weight: 400;" aria-level="1">Set TP/SL when opening a position: This means to set TP/SL in advance for a position that is about to be opened. When the user places an order to open a position, they can click to set a TP/SL order at the same time. When the open position order is filled (partially or fully), the system will immediately place a TP/SL order with the trigger price and trigger price type pre-set by the user. (This can be viewed in open orders under TP/SL.)</li> </ol> <ol> <li style="font-weight: 400;" aria-level="1">Set TP/SL when holding a position: Users can set a TP/SL order for a specified position when holding a position. After the setting is complete, when the last price of the specified trigger price type meets the trigger condition, the system will place a close market order according to the quantity set in advance.</li> </ol>

Liquidation and Risk Limit

2020-06-08

#FAQ#Futures

<h1>I. About Liquidation</h1> MEXC uses the fair price to prevent liquidation due to illiquidity or market manipulation. Your liquidation price and unrealized PNL will be calculated using the fair price. <ul><li style="font-weight:400">Liquidation in Isolated Margin Mode</li></ul> Position Margin + Unrealized P&L ≤ Maintenance Margin + Liquidation Fees When the margin rate = 100%, liquidation will be triggered. <ul><li style="font-weight:400">Liquidation in Cross Margin Mode</li></ul> Equity in cross margin account (excluding margin and unrealized PNL in isolated margin mode, and all order margin) ≤ Maintenance Margin + Liquidation Fees When the margin rate = 100%, liquidation will be triggered. <ul><li style="font-weight:400">Liquidation Process</li></ul> In the event that liquidation is triggered, the system will perform a partial liquidation process in an attempt to avoid a full liquidation of a trader’s position based on the trader’s risk tier. <ul><li style="font-weight:400">Canceling an order: In cross margin mode, all current orders will be canceled. In isolated margin mode, if automatic margin call is enabled, all current Futures orders will be canceled. If the margin rate is still greater than 100% after the cancellation, the system will proceed to the next step.</li><li style="font-weight:400">Long/short self-dealing: Self-deal forced position reduction of cross margin positions in hedged mode (only for cross margin mode). If the margin rate is still greater than or equal to 100%, the system will continue to the next step.</li><li style="font-weight:400">Partial liquidation: If the user's position is at the lowest risk tier, the system will proceed to the next step directly. If tier is greater than the 1st tier, the tier needs to be lowered first, i.e., part of the positions at the current tier will be taken over by the forced liquidation mechanism and liquidated at the bankruptcy price so as to reduce the risk limit tier. The maintenance margin rate is then calculated using the maintenance margin after the reduction to see if it is greater than or equal to 100%. If the conditions for liquidation are still met, the positions will be reduced again until it reaches the lowest tier.</li><li style="font-weight:400">Forced liquidation: If the position is at the lowest tier but the margin rate is greater than or equal to 100%, the remaining position will be taken over by the forced liquidation mechanism and liquidated at the bankruptcy price. (The takeover process does not go through the aggregation system so the bankruptcy price will not be displayed on the market transaction record and K-line.)</li></ul> Process after positions are taken over by the forced liquidation mechanism: <ul><li style="font-weight:400">When a user’s position is taken over by the forced liquidation mechanism at the bankruptcy price, if the position can be executed in the market at a better price, the remaining margin will be added to the insurance fund.</li><li style="font-weight:400">If the position cannot be executed at a price better than the bankruptcy price, the loss will be covered by the insurance fund. Eventually, if the insurance fund is not sufficient to cover the loss of the liquidated position, the position will be taken over by the auto-deleveraging system.</li></ul> <ul><li style="font-weight:400">Calculation of Liquidation Price</li></ul> (1) Liquidation Price (isolated margin mode, users can manually add margin) Liquidation condition: Position Margin + unrealized P&L ≤ Maintenance Margin + Liquidation Fees When the margin rate = 100%, liquidation will be triggered and the price of the forced liquidation is derived from the equation. (In the example below, liquidation fees will be omitted in the calculation process.) Long: Liquidation Price = (Maintenance Margin – Position Margin + Averaging opening price * Quantity * Position size) / (Quantity * Position size) Short: Liquidation Price = (Averaging opening price * Quantity * Position size - Maintenance Margin + Position Margin) / (Quantity * Position size) A user buys in 10,000 cont. of BTC/USDT perpetual futures at 8,000 USDT with an initial leverage multiple of 25x in a long position. (Assume the position of 10,000 cont. is at 1st tier of risk limit with a maintenance margin rate of 0.5%.) Maintenance Margin = 8000x10000x0.0001x0.5%=40USDT; Position Margin = 8000x10000x0.0001/25=320USDT; Calculate the user’s liquidation price: Liquidation Price for the Long position =（40-320+8000x10000x0.0001）/（10000x0.0001）=7720 *In isolated margin mode, users can manually increase the margin of the position to widen the gap it has from the opening price. This will give them a better liquidation price. Hence, users can manually increase the margin to lower the risk of the position when risk limit is high. (2) Liquidation Price (cross margin mode) Liquidation condition: Equity in cross margin account (excluding margin and unrealized PNL in isolated margin mode, and all order margin) ≤ Maintenance Margin + Liquidation Fees When the margin rate = 100%, liquidation will be triggered and the price of the forced liquidation is derived from the equation. (In the example below, liquidation fees will be omitted in the calculation process.) Forced Liquidation Price = (Average Short Position Opening Price * Short Position Quantity * Position size – Average Long Position Opening Price * Long Position Quantity * Position size – Cross Margin Position Maintenance Margin + (Wallet Balance – Position Margin in Isolated Margin Mode – Order Margin + Unrealized PNL of other futures positions in cross margin mode) / (Short Position Quantity * Position size – Long Position Quantity * Position size) A user buys in 10,000 cont. of BTCUSDT perpetual futures at 8,000 USDT with an initial leverage multiple of 25x, and their wallet balance is 500 USDT. Note that this is the user’s only long position in cross margin mode, and there are no other positions in isolated margin mode or pending orders. (Assume the position of the 10,000 cont. is at 1st tier of risk limit with a maintenance margin of 0.5%.) Position Maintenance Margin in Cross Margin Mode = 8,000 x 10,000 x 0.0001 x 0.5% = 40 USDT; The forced liquidation price can be calculated as below: Forced Liquidation Price =（0 * 0 * 0.0001 – 8,000 x 10,000 x 0.0001 – 40 +（500 – 0 – 0 + 0））/（0 * 0.0001 – 10000 x 0.0001）= 7,540 USDT *Different from isolated margin mode, the liquidation price in cross margin mode may change from time to time as the margin might be affected by positions of other trading pairs. In cross margin mode, the initial margin of every position is independent, but the margin is shared. The unrealized PNL of each position may affect the cross margin account equity. When there are multiple cross margin positions in both long and short positions under the same futures, the liquidation price for the two positions will be the same. <h1>II. About Risk Limit</h1> In a highly volatile trading environment, a trader holding a large position with high leverage will likely incur the significant risk of deficit loss. If the insurance fund is depleted, the auto-deleveraging system may be triggered, creating additional risk for other traders. Therefore, the risk limit mechanism is applied to all trading accounts in MEXC. The system uses a tiered margin model for risk control and the leverage multiple depends on the size of the position. The larger the position, the lower the available leverage multiple. Users may adjust the leverage multiple themselves. The initial margin rate is calculated based on the leverage multiple adjusted by the user. <ul><li style="font-weight:400">Position Limit, Maximum Leverage, and Initial margin rate</li></ul> Before opening a position, users are required to adjust the leverage multiple. If the user did not adjust the leverage, the MEXC default leverage multiple of 20x will be applied. However, users can still adjust the multiple. The leverage multiple determines the position limit, where the higher the leverage multiple, the lower the position limit. When the user adjusts the leverage multiple, an alert regarding the position limit will pop out as shown below: <h1 class="wysiwyg-text-align-center"> <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428231353592a42TwZ7A3A4SOf.png" alt="3en.png" width="231" /></h1> <ul><li style="font-weight:400">Maintenance margin rate</li></ul> The maintenance margin rate is not calculated based on the user's adjusted leverage multiple, but the user's position size, which means that the maintenance margin rate is not affected by the leverage multiple. The system divides the position amount into several tiers according to the basic risk limit and incremental amount of the futures. Different maintenance margin rates are applied to different tiers, where the larger the position amount, the higher the maintenance margin rate. (For risk limit details of each futures, kindly check Risk Limit under Futures Information.) The liquidation price is affected directly by the maintenance margin. Therefore, to avoid liquidation, we strongly recommend users to close their positions before the margin balance drops to the maintenance margin level. Please note that under abnormal price fluctuations and volatile market conditions, the system will take additional measures to maintain market stability, including but not limited to: <ul><li style="font-weight:400">Adjustment of maximum leverage</li><li style="font-weight:400">Adjustment of position limits for different tiers</li><li style="font-weight:400">Adjustment of maintenance margin rate of different tiers</li></ul> <ul><li style="font-weight:400">Examples of Risk Limit Mechanism</li></ul> Using BTCUSDT perpetual futures as an example: <table><tbody><tr><td> Tier </td><td> Maximum Leverage </td><td> Holding Positions </td><td> Maintenance Margin Rate </td></tr><tr><td> 1 </td><td> 200x </td><td> 0～525,000 cont. </td><td> 0.4% </td></tr><tr><td> 2 </td><td> 111x </td><td> 525,000～1,050,000 cont. </td><td> 0.8% </td></tr><tr><td> 3 </td><td> 76x </td><td> 1,050,000～1,575,000 cont. </td><td> 1.2% </td></tr><tr><td> 4 </td><td> 58x </td><td> 1,575,000～2,100,000 cont. </td><td> 1.6% </td></tr><tr><td> 5 </td><td> 47x </td><td> 2,100,000～2,625,000 cont. </td><td> 2% </td></tr></tbody></table> Assume the risk limit tiers for BTCUSDT perpetual futures are as shown above. (The figures shown are only an example. To find the actual figures, kindly refer to the risk limit tiers of respective futures.): (1) Leverage multiple determines the user’s position limit When the leverage is adjusted to 200x, it corresponds to the 1st tier of risk limit. The user’s position limit at this time would be 525,000 cont. (including no. of contracts the user is already holding and unfilled open orders). When the user's leverage is adjusted to 50x, it corresponds to the 4th tier of risk limit (47 < user’s leverage ≤ 58). The user’s position limit at this time would be 2,100,000 cont. (including no. of contracts the user is already holding and unfilled open orders). (2) Maintenance margin rate at different tiers based on position size User A buys in 80,000 cont. of BTCUSDT perpetual futures at 10,000 USDT with a leverage multiple of 50x. At this point, the user holds 80,000 cont., which corresponds to the 1st tier of risk limit (no. of open positions: 0 - 100,000 cont.). Hence the user’s position's maintenance margin rate at this point is 0.5%. Later on, as the price of BTCUSDT perpetual futures rises, User A continues to buy in 40,000 cont., meaning the user is holding 120,000 cont. now. This corresponds to the 2nd tier of risk limit (no. of open positions: 100,000 - 200,000 cont.). Hence the position maintenance margin rate is 1%. At this point, if the user’s position is under liquidation risk, liquidation will be triggered. As it is in the higher tier, liquidation by tier will be activated. Position of 20,000 cont. will be liquidated first, lowering the no. of open positions to 100,000 cont. This will lower the risk limit from the 2nd tier to 1st tier and the maintenance margin rate from 1% to 0.5%. The condition of the remaining positions will be monitored and the remaining positions will be liquidated if they remain under liquidation risk. If not, the positions will be kept. 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The MEXC Team