Futures Trading Page Terminology Guide
<div data-page-id="Y4obd3vkRogvcDx53SAuGXVCs6b" data-lark-html-role="root" data-docx-has-block-data="true"><div class="ace-line ace-line old-record-id-doxus0YyUMUzI4weakUfQRcOHSg"><span style="font-size: 16px;">For beginner users, Futures trading is more complex than spot trading and involves a wider range of professional terms. To help you get started quickly, this article provides a systematic explanation of the key terms used on the MEXC<a data-lark-is-custom="true" href="https://www.mexc.com/futures/BTC_USDT"> Futures trading</a> page, making it easier to understand and use the platform.</span></div><div class="ace-line ace-line old-record-id-doxusGznUVAaa7GUNzbKNo6YVde"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" class="ace-line ace-line old-record-id-doxustEhgy1RVvVwAXdf7JVs5VS"><span style="font-size: 16px;">*BTN-<strong>Futures Trading</strong>&BTNURL=<a data-lark-is-custom="true" href="https://www.mexc.com/futures/BTC_USDT">https://www.mexc.com/futures/BTC_USDT</a>*</span></div><div class="ace-line ace-line old-record-id-doxusM5mONHC7RY8wSBTBIWhfyf"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"f79f6b83-a907-48ee-9e6e-1c93383cf4ae","height":1432,"width":2936,"currHeight":1432,"currWidth":2936,"natrualHeight":1432,"natrualWidth":2936,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FQhrsbRYY9ofbn8xJLdvuQiENspd%2F%3Fpreview_type%3D16","file_token":"QhrsbRYY9ofbn8xJLdvuQiENspd","image_type":"image/png","size":1659360,"comments":[]}]}" class="image-uploaded gallery old-record-id-doxusbqkBxLz8eYuRQOxUEb1Irc"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260216130107398UOVGxAMj78DV2I.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJRaHJzYlJZWTlvZmJuOHhKTGR2dVFpRU5zcGQiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiZG94dXNicWtCeEx6OGVZdVJRT3hVRWIxSXJjIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9RaHJzYlJZWTlvZmJuOHhKTGR2dVFpRU5zcGQvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/QhrsbRYY9ofbn8xJLdvuQiENspd/?mount_node_token=doxusbqkBxLz8eYuRQOxUEb1Irc&mount_point=docx_image" data-width="2936" data-height="1432" data-lark-image-uri="drivetoken://QhrsbRYY9ofbn8xJLdvuQiENspd" data-lark-image-width="2936" data-lark-image-height="1432" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxusNWscO5r1rhZtE3QZdnkP1g"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-BZf3dCNS5okNzcx3KS7uKQbSsed"><strong>1. Basic Terminology</strong></h2><div class="ace-line ace-line old-record-id-doxusAvk6PmwBGENEBggjwlnMwb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-EYc3dPpxto1ZpPx6xx8uWhPrsTd"><span style="font-size: 16px;"><strong>Perpetual: </strong>Perpetual means ongoing without an expiration date. Commonly known as Perpetual Futures, these products evolved from traditional Futures but do not have a settlement or expiry date. As long as a position is not liquidated, it can remain open indefinitely.</span></div><div class="ace-line ace-line old-record-id-doxus16ryPl4yB6fPMynI6qbG5c"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-CsjNdmlDGoVE2ux320SuUryRsOc"><span style="font-size: 16px;"><strong>Price Change (%): </strong>Price change refers to the percentage increase or decrease in price over a specific period. Formula: Price Change (%) = (Closing Price − Opening Price) / Opening Price</span></div><div class="ace-line ace-line old-record-id-doxusQaNy4wvIWhuXebEN1wCqyd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-MnxGdjh8doJ5yXxzJubupWVZsGc"><span style="font-size: 16px;"><strong>Index Price: </strong>A composite price index calculated using a weighted average of prices from major mainstream exchanges. The index price shown on the page is the MX Index Price.</span></div><div class="ace-line ace-line old-record-id-doxusGAYk07HaZ38Jx4yozg6r9e"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-NkrvdXWukooF1AxfYUIu9RsnsDd"><span style="font-size: 16px;"><strong>Fair Price: </strong>The real-time fair price of the Futures, calculated based on the index price and market price. It is used to calculate unrealized PNL and determine liquidation, and may differ from the last price to prevent price manipulation.</span></div><div class="ace-line ace-line old-record-id-doxusg2UOVWOgLBBj1ZIvaVvx0d"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Jwxzd8V49ot7yjxo8PouPzRGspe"><span style="font-size: 16px;"><strong>Funding Rate</strong><strong>/Countdown: </strong>The current funding rate for the ongoing period. If the rate is positive, long positions pay short positions. If the rate is negative, short positions pay long positions.</span></div><div class="ace-line ace-line old-record-id-doxusWRaibNeTo2fKAHerRWlqdb"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"9283e0f6-24d9-4241-926d-844f38d7e538","height":1470,"width":2938,"currHeight":1470,"currWidth":2938,"natrualHeight":1470,"natrualWidth":2938,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FNHdcbM66BoBuvHx1glau3R1yspc%2F%3Fpreview_type%3D16","file_token":"NHdcbM66BoBuvHx1glau3R1yspc","image_type":"image/png","size":974505,"comments":[]}]}" class="image-uploaded gallery old-record-id-doxussR29B2IHKPbGDsrFbiQCQh"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260216130104739kvxiicbkHUtbwh.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJOSGRjYk02NkJvQnV2SHgxZ2xhdTNSMXlzcGMiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiZG94dXNzUjI5QjJJSEtQYkdEc3JGYmlRQ1FoIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9OSGRjYk02NkJvQnV2SHgxZ2xhdTNSMXlzcGMvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/NHdcbM66BoBuvHx1glau3R1yspc/?mount_node_token=doxussR29B2IHKPbGDsrFbiQCQh&mount_point=docx_image" data-width="2938" data-height="1470" data-lark-image-uri="drivetoken://NHdcbM66BoBuvHx1glau3R1yspc" data-lark-image-width="2938" data-lark-image-height="1470" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxuse0Sdtg4YZXcSoVXSYpxuHf"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-G225dsMiuoPZEbxKRwGujctvsfe"><strong>2. Order Book Terminology</strong></h2><div class="ace-line ace-line old-record-id-doxusvTcYAtAd8fVnUNYdfPQUuc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-WZvvdJtZwomKUcxb6eKux15esRc"><span style="font-size: 16px;"><strong>Order Book: </strong>A window for observing market activity during trading. In this section, users can view individual trades and the relative strength of buyers and sellers.</span></div><div class="ace-line ace-line old-record-id-doxusbViYJ2Sf1Kn2zE77ejw8tb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-ZdHIdxHDNohrjYxnqSouemkUsBg"><span style="font-size: 16px;"><strong>Market Movers: </strong>Assets that experience significant price fluctuations within a specific time range. This tool helps traders quickly identify potential opportunities based on price movements and other indicators.</span></div><div class="ace-line ace-line old-record-id-doxus2GgI7wQ4cnJLDhFSUPZcZd"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"9aa84090-b44a-4eba-a1dd-0b17ba1644af","height":1410,"width":2938,"currHeight":1410,"currWidth":2938,"natrualHeight":1410,"natrualWidth":2938,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FSQX5bfHq4oVE42x5B89ubYKtsad%2F%3Fpreview_type%3D16","file_token":"SQX5bfHq4oVE42x5B89ubYKtsad","image_type":"image/png","size":923488,"comments":[]}]}" class="image-uploaded gallery old-record-id-doxusYuOo5INw0hzWLVYDcMxsOf"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260216130106312BpVSsrOR8SaAKa.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJTUVg1YmZIcTRvVkU0Mng1Qjg5dWJZS3RzYWQiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiZG94dXNZdU9vNUlOdzBoeldMVllEY014c09mIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9TUVg1YmZIcTRvVkU0Mng1Qjg5dWJZS3RzYWQvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/SQX5bfHq4oVE42x5B89ubYKtsad/?mount_node_token=doxusYuOo5INw0hzWLVYDcMxsOf&mount_point=docx_image" data-width="2938" data-height="1410" data-lark-image-uri="drivetoken://SQX5bfHq4oVE42x5B89ubYKtsad" data-lark-image-width="2938" data-lark-image-height="1410" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxusQ7cJAv74Ky5ZEx6LVi16Ld"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-QNhVdmwEdoWRMVxmhZXudX0fsve"><strong>3. Trading Terminology</strong></h2><div class="ace-line ace-line old-record-id-doxusxpGiBtyR4n7tnHTiRIKBvh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-RFPwdRMMKof8Uqxlfi1ug5Lrspf"><span style="font-size: 16px;"><strong>Open Position/Close Position</strong>: After entering the price and quantity based on your market outlook, you can choose to open a long or short position. If you expect prices to rise, open a long position. If you expect prices to fall, open a short position. Closing a position means selling the Futures you previously opened. Open but unsettled positions are referred to aspositions, which can be viewed under<strong>Positions</strong> at the bottom of the page.</span></div><div class="ace-line ace-line old-record-id-ChxrdDJOpomXXWxtkRtuE2cVsSd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-XpGTdMBqNowOsPxm5NhuH85Hs3j"><span style="font-size: 16px;"><strong>Open Long: </strong>Opening a position based on the expectation that the asset price will rise.</span></div><div class="ace-line ace-line old-record-id-doxusUczBhyCLDGbtx5LYXNnAVc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-KNC3dZZABoua0VxnRG8uHkQsslf"><span style="font-size: 16px;"><strong>Open Short: </strong>Opening a position based on the expectation that the asset price will fall.</span></div><div class="ace-line ace-line old-record-id-doxus9BfGbSYMKZZnq9OHXQ9mAf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-StQbd6UdNo0m3xxdW9Vu0tcOsEf"><span style="font-size: 16px;"><strong>Margin and Margin Mode: </strong>Margin refers to a portion of funds that users deposit as financial margin in order to participate in Futures trading. This deposited amount is known as margin. Margin modes are divided into isolated margin mode and cross margin mode.</span></div><div class="ace-line ace-line old-record-id-doxusStzMCCbexCAdnEtt4ndycf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-N1zkdUm6ioUkz8xrj7au08Hiske"><span style="font-size: 16px;"><strong>Isolated Margin: </strong>Under isolated margin mode, a fixed amount of margin is allocated to a specific position. If losses on the position reduce the margin below the maintenance margin level, the position will be liquidated. Users may also choose to add or reduce margin for this position.</span></div><div class="ace-line ace-line old-record-id-doxusrSA3HxqHhwAe5eB1KRhm6c"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-L2R7dQe2goLVgyxpjMwu3wAhsbc"><span style="font-size: 16px;"><strong>Cross Margin: </strong>Under cross margin mode, all cross positions share the available cross margin of the corresponding asset. In the event of liquidation, traders may lose the entire margin as well as all cross positions under that margin asset.</span></div><div class="ace-line ace-line old-record-id-doxusV7s0JwwvciB23VXj6LdcLe"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-A9eAdFC4HoXBUwxJBhAuGJFZsfe"><span style="font-size: 16px;"><strong>Order Types: </strong>Order types include limit order, market order, chase limit order, trigger order, trailing stop, and post only.</span></div><div class="ace-line ace-line old-record-id-doxusYWKbHSe43d6XcHd7I1SHqd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-PRh9dddUwouAcWxQblruvakNspf"><span style="font-size: 16px;"><strong>Limit Order: </strong>A limit order is an order to buy or sell at a specified price or better. Execution of a limit order is not guaranteed.</span></div><div class="ace-line ace-line old-record-id-doxusDMoepk35neCegth9A5FLqh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-BVcodIkeWozxHdxtg2Iu74kjspb"><span style="font-size: 16px;"><strong>Market Order: </strong>A market order is an order to buy or sell immediately at the best available market price.</span></div><div class="ace-line ace-line old-record-id-doxusauNFGEIovY37RVxrSMJmsd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-YcXGdUjXhoNzRWxuo9RugiiFsbc"><span style="font-size: 16px;"><strong>Chase Limit Order: </strong>A chase limit order is a type of limit order placed at the best bid or ask price. It dynamically adjusts the entry price based on changing market conditions until the order is filled, canceled, or reaches the maximum chase distance.</span></div><div class="ace-line ace-line old-record-id-doxusO4XYwc5RU3cOYlMrelGOo5"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-DMSLdOu21obOk7xTnLtuk6Bvs7b"><span style="font-size: 16px;"><strong>Trigger Order: </strong>Users can pre-set a trigger price, order price, and quantity. When the market price reaches the trigger price, the system will automatically place the order at the specified order price. Before the trigger order is successfully activated, positions and margin will not be frozen.</span></div><div class="ace-line ace-line old-record-id-doxusKz5P3yX9rp5auBSfiigDJh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-R22ydEzVgodUBtxGf0tuVyhcsri"><span style="font-size: 16px;"><strong>Trailing Stop Order: </strong>A trailing stop order is a strategy order that submits an order to the market when prices retrace. The actual trigger price is calculated as:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-XWh3dfnfxo8uagxqfLvub7Ecsfc" data-list="bullet"><div><span style="font-size: 16px;">Highest (lowest) market price ± retracement amount (price difference), or</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-Fx1ddXjTGo60cGxDIZvunxkfsdh" data-list="bullet"><div><span style="font-size: 16px;">Highest (lowest) market price × (1 ± retracement percentage)</span></div></li></ul><div class="ace-line ace-line old-record-id-IdUTdF6FzoBQzSxRi7KuDWTosIb"><span style="font-size: 16px;">Users can also set an activation price. The trigger price calculation only begins after the order is activated.</span></div><div class="ace-line ace-line old-record-id-doxustRyEbFF67DJBaU08Ggg6Le"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-CFZ9dle2qodmNexj33BuaEAvsze"><span style="font-size: 16px;"><strong>Post Only: </strong>Post only orders will not be executed immediately on the market, ensuring the user always acts as a maker. If the order immediately matches with an existing order, it will be canceled.</span></div><div class="ace-line ace-line old-record-id-doxuswIi0qTwJPIKJdtufZakXKd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-SYlQdMNyuowAPexLiQkut9Grsdd"><span style="font-size: 16px;"><strong>Take-Profit/Stop-Loss (TP/SL): </strong>A preset closing order with trigger conditions (take-profit price or stop-loss price). When the last price, fair price, or index price reaches the preset trigger price, the system will close the position at the best available market price based on the predefined quantity, allowing users to lock in profits or avoid unnecessary losses.</span></div><div class="ace-line ace-line old-record-id-doxusaZS5ICE6wuywdpqs72IoV2"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-VEs8d2mT4oKV3kxGYeMudW1Ms3d"><span style="font-size: 16px;"><strong>Limit Take-Profit/Stop-Loss: </strong>A limit TP/SL order is a preset order where users specify the stop price, limit price, and buy/sell amount. When the last price reaches the stop price, the system automatically places a limit order at the specified limit price.</span></div><div class="ace-line ace-line old-record-id-doxuslCrqMpERsBXfBqexS1nkFh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Vtlhd7Q5xogKpMxMkvIuo0QwsFd"><span style="font-size: 16px;"><strong>Coin-Margined Futures: </strong>Coin-Margined Futures provided by MEXC are inverse futures, where cryptocurrency is used as margin and serves as the base currency. For example, in BTC-Margined Futures, BTC is used as the initial margin and for PNL calculation.</span></div><div class="ace-line ace-line old-record-id-doxusxUzOV3swufLto79LkFhIqh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-VV9JdvbUXoeji4xstovui8F1sqG"><span style="font-size: 16px;"><strong>Stablecoin-Margined Futures: </strong>Stablecoin-Margined Futures provided by MEXC (for example USDT-M Futures) are linear derivatives quoted and settled in USDT. USDT is a stablecoin pegged to the value of the U.S. dollar.</span></div><div class="ace-line ace-line old-record-id-doxusBRlEUYLWMDS32e5IceQd1c"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"704cd8c9-29f3-4d58-96f2-3b2e86797cd3","height":1468,"width":2938,"currHeight":1468,"currWidth":2938,"natrualHeight":1468,"natrualWidth":2938,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FHHNnbSbHVoaWclxtZYduyLoosbh%2F%3Fpreview_type%3D16","file_token":"HHNnbSbHVoaWclxtZYduyLoosbh","image_type":"image/png","size":1032073,"comments":[]}]}" class="image-uploaded gallery old-record-id-doxussGAe2w7U12q5z8RL8hnvVe"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260216130106619KIPq6yyIJzPznN.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJISE5uYlNiSFZvYVdjbHh0WllkdXlMb29zYmgiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiZG94dXNzR0FlMnc3VTEycTV6OFJMOGhudlZlIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9ISE5uYlNiSFZvYVdjbHh0WllkdXlMb29zYmgvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/HHNnbSbHVoaWclxtZYduyLoosbh/?mount_node_token=doxussGAe2w7U12q5z8RL8hnvVe&mount_point=docx_image" data-width="2938" data-height="1468" data-lark-image-uri="drivetoken://HHNnbSbHVoaWclxtZYduyLoosbh" data-lark-image-width="2938" data-lark-image-height="1468" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxusmedQioODGDF4c3ioArByEc"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-BB09dViUvoW6LUxdgu3ukYChscd"><strong>4. Futures Calculation Terminology</strong></h2><div class="ace-line ace-line old-record-id-doxusfql3nLoH6iECEUPOflxL0c"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-YdN4dohpIoPasmxqyRdumiYisrd"><span style="font-size: 16px;"><strong>PNL</strong><strong> Calculation: </strong>Enter your entry price, futures position size, and leverage, then set your expected exit price to calculate the final profit amount and return on investment (ROI).</span></div><div class="ace-line ace-line old-record-id-doxusWcUiVXjAbujIKJSakuCBBf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-O5hLdq1xqoK06Xx4T0Nu8uxtsSh"><span style="font-size: 16px;"><strong>Target Price Calculation: </strong>Enter your entry price, Futures position size, and leverage, then set your desired ROI to calculate the target price and profit amount.</span></div><div class="ace-line ace-line old-record-id-doxusVT205fRuWLZBunrQR72LUh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-ZWMxd2vMsosIA8xKKo5uKx0csob"><span style="font-size: 16px;"><strong>Liquidation Price</strong><strong>: </strong>Enter your entry price, Futures position size, and leverage, and select the margin mode (cross or isolated) to calculate your liquidation price.</span></div><div class="ace-line ace-line old-record-id-doxusYNpYlQ2p7dXw6flqLrUdiG"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-NH34dtilZo3ZMdxQYHYuuDhOsNe"><span style="font-size: 16px;"><strong>Maximum </strong><strong>Position Size</strong><strong>: </strong>Enter your entry price and leverage, then input the amount of margin available to calculate the maximum Futures position size you can open for long or short positions.</span></div><div class="ace-line ace-line old-record-id-doxusOh5my9WZkUrqQPSeeTpEBb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-T2MndY04Po9vXzxRqTMu3QydsXb"><span style="font-size: 16px;"><strong>Average Entry Price: </strong>If you open multiple Futures positions for the same trading pair, enter the different entry prices and corresponding position sizes to calculate the combined average entry price for that trading pair.</span></div><div class="ace-line ace-line old-record-id-doxuswiWVvp1jKL5BmOQkiHGfmf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-WyxrdBun6o1uSextnuouvJakszg"><span style="font-size: 16px;"><strong>Funding Fee</strong><strong>: </strong>Enter the fair price, position size, and current funding rate to calculate the amount of funding fee you need to pay or receive.</span></div><div class="ace-line ace-line old-record-id-doxusyblXg0L8gAfr5BHC2R3eWh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-ZQZudQewOolUK2xbInsuTYzGsNh"><span style="font-size: 16px;">Note: Futures calculation input terms are for reference only. Actual Futures trading calculations are subject to live trading.</span></div><div class="ace-line ace-line old-record-id-doxusQ5VqaWIvCvdlQrPgXhME4f"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-CjsRdruecovnYnxPmmbu7JJ6sBc"><span style="font-size: 16px;">For beginners, before placing your first Futures trade, you can practice using MEXC Futures <a data-lark-is-custom="true" href="https://www.mexc.com/learn/article/how-to-use-demo-trading-on-mexc-futures/2">Demo Trading</a> to gain hands-on experience. After becoming familiar with the platform's features, you can then proceed to live trading.</span></div><div class="ace-line ace-line old-record-id-doxusL9n8oNW5LsDY8wZUDGl1mR"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" class="ace-line ace-line old-record-id-doxusYXyamPgZOwFSoGKDs7C9bh"><span style="font-size: 16px;">*BTN-<strong>Futures Demo Trading</strong>&BTNURL=<a data-lark-is-custom="true" href="https://futures.testnet.mexc.com/futures/BTC_USDT">https://futures.testnet.mexc.com/futures/BTC_USDT</a>*</span></div><div class="ace-line ace-line old-record-id-doxusUcWIHCktMDBbUqZM4TEKad"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"34d97007-921e-4e00-8656-ccb62723e395","height":1422,"width":2938,"currHeight":1422,"currWidth":2938,"natrualHeight":1422,"natrualWidth":2938,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FUAM9b66dbooOAXxfniHuJgRUsph%2F%3Fpreview_type%3D16","file_token":"UAM9b66dbooOAXxfniHuJgRUsph","image_type":"image/png","size":842395,"comments":[]}]}" class="image-uploaded gallery old-record-id-doxusqHNmEz17DcG3tzq69xANJh"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260216130106029fvIkgUBEqnPkTa.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJVQU05YjY2ZGJvb09BWHhmbmlIdUpnUlVzcGgiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiZG94dXNxSE5tRXoxN0RjRzN0enE2OXhBTkpoIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9VQU05YjY2ZGJvb09BWHhmbmlIdUpnUlVzcGgvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/UAM9b66dbooOAXxfniHuJgRUsph/?mount_node_token=doxusqHNmEz17DcG3tzq69xANJh&mount_point=docx_image" data-width="2938" data-height="1422" data-lark-image-uri="drivetoken://UAM9b66dbooOAXxfniHuJgRUsph" data-lark-image-width="2938" data-lark-image-height="1422" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxuslfmP3yg60WhnoCFIg0oJDf"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-QtMcdoY5jouApcxF8NyupLWGswc"><strong>5. Order Terminology</strong></h2><div class="ace-line ace-line old-record-id-doxusgj8HQGJT7Sp2KkQpyOaRAh"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-Jt94dNfguobcJCxidvRuuYSAsDd"><span style="font-size: 16px;">5.1 Positions</span></h3><div class="ace-line ace-line old-record-id-doxus7R6iXoJ5nk3212218qhfwh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-EJOpdz6dGoatevxtbu3uwVYisxh"><span style="font-size: 16px;"><strong>Position Size</strong><strong>:</strong> The number of open (unclosed) Futures positions.</span></div><div class="ace-line ace-line old-record-id-doxusj7ogv48CY24MCEEXVs4Zbf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Vv6WdxUCgovS3pxrHfKu7fZgsch"><span style="font-size: 16px;"><strong>Average Entry Price:</strong> The average cost at which a position is opened. For example, if a user opens 100 cont. of long positions on MXUSDT Perpetual Futures at 2 USDT, and later opens another 100 cont. of long positions in the same direction at 2.1 USDT, then the average entry price is calculated as (2 × 100 + 2.1 × 100) / (100 + 100) = 2.05 USDT.</span></div><div class="ace-line ace-line old-record-id-doxusH31pQi4SW0aQDwHFEVDCjg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-H9ASd5gNkoPJ0dx6uzWumb94sHb"><span style="font-size: 16px;"><strong>Fair Price:</strong> A mechanism introduced to prevent user losses caused by abnormal price fluctuations on a single platform. It is calculated using weighted price data from major exchanges and more fairly reflects the true market price. For more information, please refer to <strong><a data-lark-is-custom="true" href="https://www.mexc.com/learn/article/3-key-prices-in-futures-trading-what-are-index-price-fair-price-and-last-price-/1">Index Price, Fair Price, and Last Price</a></strong>.</span></div><div class="ace-line ace-line old-record-id-doxusgUTobt6EhvBqWRqO5GaPTf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-ERCcdo9H0ohAkUxXKOuuhNuXszb"><span style="font-size: 16px;"><strong>Estimated </strong><strong>Liquidation Price</strong><strong>:</strong> When the fair price reaches the estimated liquidation price, the position will be liquidated. To learn more about liquidation, please refer to <a data-lark-is-custom="true" href="https://www.mexc.com/learn/article/what-is-liquidation-a-complete-guide-to-its-mechanism-price-calculation-and-risk-management/1">What Is Liquidation? A Complete Guide to Its Mechanism, Price Calculation, and Risk Management</a>.</span></div><div class="ace-line ace-line old-record-id-doxusWDogDoLpwltBpTMBO7YZ1b"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-UCXKderfzoqm26xhKbnui4LRsEc"><span style="font-size: 16px;"><strong>Margin Ratio</strong><strong>:</strong> Used to measure the risk level of a position. The lower the margin rate, the relatively lower the position risk. When the margin ratio reaches 100%, the position will be liquidated.</span></div><div class="ace-line ace-line old-record-id-doxusenB3g5auC28Jn8vSaAX8zf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-P7COd8dTfom42hxKt1EuXOZlscw"><span style="font-size: 16px;"><strong>Margin:</strong> Position margin includes the initial margin and closing fees. In isolated margin mode, additional margin can be added to the position.</span></div><div class="ace-line ace-line old-record-id-doxusVDIollAUCRdEYDicKkLiDh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-YPC6dOTYBoKkdwxztsxuZEdWs5g"><span style="font-size: 16px;"><strong>Unrealized </strong><strong>PNL</strong><strong>:</strong> Calculated based on the fair price or the last price. Position ROI = Unrealized PNL / Initial margin. Therefore, ROI is only related to the current leverage level and is not affected by increases or decreases in margin.</span></div><div class="ace-line ace-line old-record-id-doxusLxiCbeXyXkFXW87avzV0wc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-RfXXd5chRozF07xn7tnuq2GfsCc"><span style="font-size: 16px;"><strong>Realized </strong><strong>PNL</strong><strong>:</strong> All realized profits and losses generated by the position, including trading fees, funding fees, and PNL from closing positions.</span></div><div class="ace-line ace-line old-record-id-doxusGFRdsQ0S26MnqEl3nIrDgd"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"99c189f3-7dea-4bb0-98c9-b67fe6574205","height":258,"width":2320,"currHeight":258,"currWidth":2320,"natrualHeight":258,"natrualWidth":2320,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FSNhjb77g1oPZyexTM8Iu8Rooseb%2F%3Fpreview_type%3D16","file_token":"SNhjb77g1oPZyexTM8Iu8Rooseb","image_type":"image/png","size":119978,"comments":[]}]}" class="image-uploaded gallery old-record-id-doxusl52MWX6GOxeUGQNH41URQh"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260216130103392aWCka4uvLe1qfx.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJTTmhqYjc3ZzFvUFp5ZXhUTThJdThSb29zZWIiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiZG94dXNsNTJNV1g2R094ZVVHUU5INDFVUlFoIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9TTmhqYjc3ZzFvUFp5ZXhUTThJdThSb29zZWIvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/SNhjb77g1oPZyexTM8Iu8Rooseb/?mount_node_token=doxusl52MWX6GOxeUGQNH41URQh&mount_point=docx_image" data-width="2320" data-height="258" data-lark-image-uri="drivetoken://SNhjb77g1oPZyexTM8Iu8Rooseb" data-lark-image-width="2320" data-lark-image-height="258" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxus00ysl4Ovv7FxkynWyc1lsg"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-G94AdqHxKoZtnTxS3DbunBKWsWR"><span style="font-size: 16px;">5.2 Open Orders</span></h3><div class="ace-line ace-line old-record-id-doxusP2etjhyvFaIpcSYzSs2X2c"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-EinEdPcBDosPMjxqsF0umcuEsBb"><span style="font-size: 16px;"><strong>Amount/Filled Amount:</strong> Order amount refers to the intended execution size set by the user when placing an order. When the order amount is large, it is usually filled in multiple smaller orders. Filled amount refers to the amount that has actually been executed. When the order amount equals the filled amount, it means the order has been fully filled.</span></div><div class="ace-line ace-line old-record-id-doxusHtAj2v9kGivpyCZ7nkGzsf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-GgZHdyIEZo6vdMxySytuoi9DsXb"><span style="font-size: 16px;"><strong>Order Price/Average Fill Price:</strong> Order price refers to the expected execution price entered by the user. For limit orders, the order price is the price entered by the user. For market orders, the order price depends on the actual execution result. When large orders are split into multiple sub-orders, the fill prices may vary due to market fluctuations. The average of these execution prices is the average fill price.</span></div><div class="ace-line ace-line old-record-id-doxusHKftcBP1M41zEI6L0eqmve"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"23315e64-13dc-4978-a011-6a57ec8ababa","height":300,"width":2314,"currHeight":300,"currWidth":2314,"natrualHeight":300,"natrualWidth":2314,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FByQ8b1sMNoCZdExuY79uGsKKsPi%2F%3Fpreview_type%3D16","file_token":"ByQ8b1sMNoCZdExuY79uGsKKsPi","image_type":"image/png","size":121609,"comments":[]}]}" class="image-uploaded gallery old-record-id-doxusYcK1R2fmW6mC2ZbihrWQjg"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260216130103837BAQZf7fZjp5OZU.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJCeVE4YjFzTU5vQ1pkRXh1WTc5dUdzS0tzUGkiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiZG94dXNZY0sxUjJmbVc2bUMyWmJpaHJXUWpnIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9CeVE4YjFzTU5vQ1pkRXh1WTc5dUdzS0tzUGkvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/ByQ8b1sMNoCZdExuY79uGsKKsPi/?mount_node_token=doxusYcK1R2fmW6mC2ZbihrWQjg&mount_point=docx_image" data-width="2314" data-height="300" data-lark-image-uri="drivetoken://ByQ8b1sMNoCZdExuY79uGsKKsPi" data-lark-image-width="2314" data-lark-image-height="300" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxusfteN2epjpHKSheBUtgaESg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxusQ9fE68rEycCJ9hkBw6IBXd"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-WLZ1da2v6o4aPfxt9rKuevaUsif"><span style="font-size: 16px;">5.3 Position History</span></h3><div class="ace-line ace-line old-record-id-doxusu83qqpFxac9NgaNIKs4Qec"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-HFJvdHheVocilCxp2epuzmQBs5d"><span style="font-size: 16px;"><strong>Average Entry Price:</strong> The average cost of opening the position.</span></div><div class="ace-line ace-line old-record-id-doxusXb8PSLDyK7xXVbX7SRCOsg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Rqydd2TGWoNocFxAmb0u3aZCsOh"><span style="font-size: 16px;"><strong>Average Close Price:</strong> The average price of all closing trades.</span></div><div class="ace-line ace-line old-record-id-doxuskyXKM7EYLnLoW0iwNbAQ7f"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-TMyvdlFeqokortxM9IsudMJoslb"><span style="font-size: 16px;"><strong>Realized </strong><strong>PNL</strong><strong>:</strong> All realized profits and losses generated by the position, including trading fees, funding fees, and PNL from closing positions (does not include fees offset by vouchers or MX deductions).</span></div><div class="ace-line ace-line old-record-id-doxusD1CXzpSdsNNsSW75nbIJLd"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"5f50adb4-3ad4-4fac-b81c-3c9f0aede1d9","height":232,"width":2318,"currHeight":232,"currWidth":2318,"natrualHeight":232,"natrualWidth":2318,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FHnZmb3n7Bo0j4FxwIbvuWxOmsDh%2F%3Fpreview_type%3D16","file_token":"HnZmb3n7Bo0j4FxwIbvuWxOmsDh","image_type":"image/png","size":93599,"comments":[]}]}" class="image-uploaded gallery old-record-id-doxusTLyjVKiAO7XaAOhLSV6yeg"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260216130103388iKvpBaiahCvHrJ.png" data-single-block="true" data-snapshot="eyJ0eXBlIjoiaW1hZ2UiLCJwYXJlbnRfaWQiOiJZNG9iZDN2a1JvZ3ZjRHg1M1NBdUdYVkNzNmIiLCJjb21tZW50cyI6W10sInJldmlzaW9ucyI6W10sImxvY2tlZCI6ZmFsc2UsImhpZGRlbiI6ZmFsc2UsImF1dGhvciI6Ijc0MjIxMDg5NzE5Mjc4NjMzMDIiLCJhbGlnbiI6ImNlbnRlciIsImltYWdlIjp7InRva2VuIjoiSG5abWIzbjdCbzBqNEZ4d0lidnVXeE9tc0RoIiwibWltZVR5cGUiOiJpbWFnZS9wbmciLCJzaXplIjo5MzU5OSwic2NhbGUiOjEsIndpZHRoIjoyMzE4LCJoZWlnaHQiOjIzMiwibmFtZSI6ImltYWdlLnBuZyIsImNyb3AiOlswLDAsMCwwXSwicm90YXRpb24iOjAsImNhcHRpb24iOnsidGV4dCI6eyJhcG9vbCI6eyJuZXh0TnVtIjowLCJudW1Ub0F0dHJpYiI6bnVsbH0sImluaXRpYWxBdHRyaWJ1dGVkVGV4dHMiOnsiYXR0cmlicyI6bnVsbCwidGV4dCI6bnVsbH19fX0sImFyZWFfY29tbWVudHMiOnt9fQ==" data-suite="eyJmaWxlVG9rZW4iOiJIblptYjNuN0JvMGo0Rnh3SWJ2dVd4T21zRGgiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiZG94dXNUTHlqVktpQU83WGFBT2hMU1Y2eWVnIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9IblptYjNuN0JvMGo0Rnh3SWJ2dVd4T21zRGgvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/HnZmb3n7Bo0j4FxwIbvuWxOmsDh/?mount_node_token=doxusTLyjVKiAO7XaAOhLSV6yeg&mount_point=docx_image" data-width="2318" data-height="232" data-lark-image-uri="drivetoken://HnZmb3n7Bo0j4FxwIbvuWxOmsDh" data-lark-image-width="2318" data-lark-image-height="232" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxus11H2hoZwK7uYDDuDGZ0nYd"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-BZHsdPOMkof8QexV1ZSuHaOds6t"><span style="font-size: 16px;">5.4 Assets</span></h3><div class="ace-line ace-line old-record-id-doxuswyLkBv2nY9CtS2a8D9XAPc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-D5NQdydeMopmssxTOc4u3XoVsZb"><span style="font-size: 16px;"><strong>Total Equity:</strong> Wallet Balance + Unrealized PNL.</span></div><div class="ace-line ace-line old-record-id-doxusPuVhyIdM0JV1xotZgB0NNc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-EI7XddmB7oaReDxE4hUuZTNpsEh"><span style="font-size: 16px;"><strong>Wallet Balance:</strong> Total transferred-in funds − total transferred-out funds + Realized PNL.</span></div><div class="ace-line ace-line old-record-id-doxusyWvKek6lhgSrlhQk2KqQpe"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-CXg7dcsWZoJwaPxMebluqJGislc"><span style="font-size: 16px;"><strong>Available Margin</strong><strong>:</strong> The amount of funds available for opening new positions.</span></div><div class="ace-line ace-line old-record-id-doxusS9YzJFzpAb2xybOTUPehbh"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"24e62149-4657-4740-afd5-3c1c32704f05","height":298,"width":2316,"currHeight":298,"currWidth":2316,"natrualHeight":298,"natrualWidth":2316,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FQkGObr15zoOsqTxZdLluXhwOsab%2F%3Fpreview_type%3D16","file_token":"QkGObr15zoOsqTxZdLluXhwOsab","image_type":"image/png","size":108744,"comments":[]}]}" class="image-uploaded gallery old-record-id-doxus7LiZ2ZE0j5x52PLSK2usYf"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260216130104019MZJVJdg5sOJI1G.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJRa0dPYnIxNXpvT3NxVHhaZExsdVhod09zYWIiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiZG94dXM3TGlaMlpFMGo1eDUyUExTSzJ1c1lmIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9Ra0dPYnIxNXpvT3NxVHhaZExsdVhod09zYWIvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/QkGObr15zoOsqTxZdLluXhwOsab/?mount_node_token=doxus7LiZ2ZE0j5x52PLSK2usYf&mount_point=docx_image" data-width="2316" data-height="298" data-lark-image-uri="drivetoken://QkGObr15zoOsqTxZdLluXhwOsab" data-lark-image-width="2316" data-lark-image-height="298" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxusjCr3tkdjNMNATuCoi6DMsf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-ASmpdobbGoKiokxda8puo9Pas4e"><span style="font-size: 16px;">Understanding Futures trading terminology is only the first step in learning how to use Futures trading tools. To truly master them, you need to apply what you've learned through actual trading. Before starting live Futures trading, you can practice using the MEXC Futures <a data-lark-is-custom="true" href="https://futures.testnet.mexc.com/futures/BTC_USDT">Demo Trading</a> to become familiar with the platform, and then proceed to live trading.</span></div><div class="ace-line ace-line old-record-id-doxusWZ9u2XfubXdMGbxJimzCmh"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-AEiZdSfqhoPHoCxuwIJuCwjXsag"><span style="font-size: 16px;">Recommended Reading:</span></h2><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-MGowdribOoJNDaxBgkruTkOqsBN" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/mexc-futures-funding-rate-305432020820705280">MEXC Futures Funding Rate: Calculation Methods and How to View Funding Rates</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-JPuudPIBAo7U4ExHhF4uJi42soc" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/futures-trading-faq-305425827477864448">Futures Trading FAQ: A Complete Beginner's Guide</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-EIXCd1XFXoRxQUx0zywuIIReswd" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/time-in-force-tif-for-futures-trading-305427906242034688">Time in Force (TIF) for Futures Trading: A Complete Guide</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-LqasdJiF7o7UyWxtUUlu1sNMsog" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/a-complete-guide-to-futures-information-terminology-305436590665908224">A Complete Guide to Futures Information Terminology</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-SeN9dMXe4oNkodx09duunx7asMb" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/how-to-trade-futures-on-the-mexc-app-305421274812529664">How to Trade Futures on the MEXC App</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-OToHdEMwxo5KvvxQfjSuP4hes8b" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/how-to-trade-futures-on-mexc-web-305423980641926144">How to Trade Futures on MEXC Web</a></span></div></li></ul></div>
Futures Trading FAQ: A Complete Beginner's Guide
<div data-page-id="LlTZd7ucFoA6LYxY2isue9yfsxg" data-lark-html-role="root" data-docx-has-block-data="true"><div class="ace-line ace-line old-record-id-doxusJBAlan4hU53uGGnWUKbSGL"><span style="font-size: 16px;">With its flexible trading mechanisms and efficient use of capital, crypto futures trading has attracted a growing number of traders. However, Futures trading involves relatively complex concepts and operating procedures, which can make it difficult for beginners to get started quickly. This Futures Trading FAQ answers the most common questions to help you fully understand the core concepts behind Futures trading and start your trading journey with confidence.</span></div><div class="ace-line ace-line old-record-id-doxusS1lUZeWqCloh6q0lUg1ryc"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-ZJMIdmQgLoTe20xnG4guMorMswh"><strong>1. What Is Crypto Futures Trading?</strong></h2><div class="ace-line ace-line old-record-id-JcWcd7RFIoANtcxrJqsuHrtVs5d"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-JhajdqbZ1oBqoTxBxUFusiIdsof"><span style="font-size: 16px;">Futures trading is a form of derivatives trading based on price movements of crypto assets. Unlike Spot trading, users do not need to hold the cryptocurrencies themselves. Instead, they can buy or sell Futures to speculate on market movements, allowing for opportunities to profit whether prices rise or fall. Futures trading is suitable for the following types of users:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-IU8AdKtyhoS5nuxfPqtuXeoNsId" data-list="bullet"><div><span style="font-size: 16px;">Users with market analysis skills who want to profit from short-term price fluctuations.</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-CO74dSfB6oCJ5ZxbZdDuTjsxsl5" data-list="bullet"><div><span style="font-size: 16px;">Traders who want to improve capital efficiency through leverage with limited funds.</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-Hw84dIQTfoxRwvxGlpuubChhs25" data-list="bullet"><div><span style="font-size: 16px;">Investors who want to seek profits even in declining markets.</span></div></li></ul><div class="ace-line ace-line old-record-id-doxuso2rJpeLQ3bxjLc1peXhV0c"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-CUQOdnPFToxjDjxt8EnuIx8ksOf"><strong>2. What are the Core Differences Between Futures Trading and Spot Trading?</strong></h2><div class="ace-line ace-line old-record-id-doxusdfzR3UUYwl328fDbLyr0ob"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-POSddGwOUo2OrOx37PouLnSpsyg"><span style="font-size: 16px;">The most fundamental difference between Futures trading and Spot trading is whether the underlying asset is actually held. The detailed comparison is as follows:</span></div><div><table class="ace-table" data-ace-table-col-widths="164;287;293" style="border:none;border-collapse:collapse;table-layout:fixed;width:500px;"><colgroup><col width="164"><col width="287"><col width="293"></colgroup><tbody><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-O2ohdPK5Qo37pfxmtb9uA8vjsGe"><strong style="font-size: 16px;">Difference</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-NZiGdkp2ToW694x7GqOuX8YhsKc"><strong style="font-size: 16px;">Futures Trading</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-YheidaIikoMxtgxAK16uM6Dhsod"><strong style="font-size: 16px;">Spot Trading</strong></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-SR2GdMCHNoAwOXxJK4LuVwEyseh"><span style="font-size: 16px;">Asset holding</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-XbN1dloIoom4XXxiJMiuBFASsdv"><span style="font-size: 16px;">No, only price exposure</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-RkLnd0fwgoBbESxyZ27udwqWsCe"><span style="font-size: 16px;">Yes, actual crypto assets are held</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-F9UpdtjG1oM4kgxtfKmuZbFusEc"><span style="font-size: 16px;">Profit direction</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-CIs5dpsasopsR4x4Sz3usIUtsQh"><span style="font-size: 16px;">Supports both long and short positions</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-Jfl4dWZfRoVYHnxUzY7ujrU5sVc"><span style="font-size: 16px;">Profits only when prices rise</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-J58gdjFoiobssCx575iukKo1skb"><span style="font-size: 16px;">Leverage</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-ImPGdvfBHoqgRPxiuAauRf04scf"><span style="font-size: 16px;">Supports high leverage</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-PqFNdI0pdopTOFxbAQPuMQv5sZd"><span style="font-size: 16px;">Generally not supported</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-DJvoddXVFo78YdxEnequ7WYXskf"><span style="font-size: 16px;">Suitable users</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-TerbdwuYeo8vq2xc5BcuLtExsdb"><span style="font-size: 16px;">Short-term traders and hedging users</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:left" class="ace-line ace-line old-record-id-XBC3dxyTmop8FpxdNqWu9nwcsMf"><span style="font-size: 16px;">Long-term holders and DCA strategies</span></div></td></tr></tbody></table></div><div class="ace-line ace-line old-record-id-QJqEdKBcwo0n3MxG7PKuu1XKsxb"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-CzqadGgQboVSxRxg1L7uNdebsBc"><strong>3. Futures Trading Fees on MEXC</strong></h2><div class="ace-line ace-line old-record-id-ES2EdDo6Ko5mtPxIqxju9ey4sHd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-A0pJdCcUHo66fSxr05kuAK46sNc"><span style="font-size: 16px;">Understanding the fee structure is critical for controlling Futures trading costs. MEXC Futures fees are set as follows:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-QRBVdEpR1o70aBxG3KXu7pxSsTf" data-list="bullet"><div><span style="font-size: 16px;"><strong>Maker</strong>: 0%. No fee is charged when placing orders that add liquidity to the order book.</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-HA2Gd5WC6ogszpx8zecu3O10syg" data-list="bullet"><div><span style="font-size: 16px;"><strong>Taker</strong>: 0.02%. This fee applies to market orders or orders that execute immediately.</span></div></li></ul><div class="ace-line ace-line old-record-id-NLjQdnEB6o1Af4xgfTwudaNks9c"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-D2v6deztvoKkLGxZIa8uMYhUs4e"><span style="font-size: 16px;">You can view the latest Futures trading fees on the MEXC Fees page.</span></div><div class="ace-line ace-line old-record-id-doxusfWf2ugqOlblV47YfzJCblg"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" class="ace-line ace-line old-record-id-doxusHf9oCd6ovqcstQWM0Zl5mb"><span style="font-size: 16px;">*BTN-View Futures Trading Fees&BTNURL=<a data-lark-is-custom="true" href="https://www.mexc.com/fee">https://www.mexc.com/fee</a>*</span></div><div class="ace-line ace-line old-record-id-doxusciB8yu6rCZ7diRVY7RYite"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-MSQcdH58doLyEOxCjhNuhGpSsKd"><strong>4. How Should I Choose Leverage?</strong></h2><div class="ace-line ace-line old-record-id-ZjUUdkixropKXQxofLyuUq4DsLf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-W9HKd0Pbaotp4axGyoWut1fusro"><span style="font-size: 16px;">MEXC's Futures platform offers flexible leverage settings, ranging from low to high levels. Users can freely adjust leverage based on market conditions and according to their own risk tolerance. Beginners are advised to start with low leverage and gradually increase it after gaining experience. It's always important to recognize that leverage amplifies both profits and risks. For example, using 100 USDT as margin with 10x leverage gives exposure to a 1,000 USDT position. If the market rises by 5%, the profit is 50 USDT, but a 5% decline results in the same amount of loss. Choosing leverage wisely is therefore a key part of risk management.</span></div><div class="ace-line ace-line old-record-id-CLsgdrhMjoQ1tVxjmw3uWc1VsLd"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-JjcDdyPHQov1PgxRodPu9CDDs8d"><strong>5. How Do I Open and Close Futures Positions?</strong></h2><div class="ace-line ace-line old-record-id-SCypdst5lokoI8xgSyquZHPlseO"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-LgGQdCYwXoMYPBxSys3uuk4Zsld"><span style="font-size: 16px;">The basic steps for Futures trading on MEXC are as follows:</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-YkD3dtcfvoi1DmxAJKbudJZgsTb"><span style="font-size: 16px;">1) Log in to your MEXC account and enter the <a data-lark-is-custom="true" href="https://www.mexc.com/futures/BTC_USDT">Futures trading</a> page.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-J4M6ddgsjoQZ1pxyYtXuxO3BsOf"><span style="font-size: 16px;">2) Select the trading pair and set the leverage.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-IBaUdjDZ9oswlRxFWAAuKqCmsfg"><span style="font-size: 16px;">3) Choose the margin mode (isolated or cross).</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-GGWId5ihSoQab4xh74Fu4utpswf"><span style="font-size: 16px;">4) Select the order type (limit, market, trigger, etc.).</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-EK1ddtLN5oYn6MxMTh6uZFjdsPe"><span style="font-size: 16px;">5) Enter the trade quantity.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-NMhid1rXjo7ZYExOdBFuu6zCsSd"><span style="font-size: 16px;">6) Choose <strong>Open Long</strong> or <strong>Open Short</strong> to open a position.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-OPnmdCmKToneiQxcZHeuFy5tsPh"><span style="font-size: 16px;">7) When the price reaches your target, select <strong>Close</strong> to complete the trade.</span></div><div class="ace-line ace-line old-record-id-FTo6dLk3JoK0pmx9p0LuX5FQshb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-CVEmda5sloRFpWxhDNyu7KPCssh"><span style="font-size: 16px;">For more detailed instructions, you can read:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-XPL5djhVDozuHlxQa15ucvgesje" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/how-to-trade-futures-on-the-mexc-app-305421274812529664">How to Trade Futures on the MEXC App</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-DB8edYBoOoxoTPxJn1LuzZMYsHd" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/how-to-trade-futures-on-mexc-web-305423980641926144">How to Trade Futures on MEXC Web</a></span></div></li></ul><div class="ace-line ace-line old-record-id-RGORdq8pLoh6Dcx3wZmuUNMGsyg"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" class="ace-line ace-line old-record-id-doxus6g0LwD2waEE7QHWwHDnvUf"><span style="font-size: 16px;">*BTN-<strong>Start Futures Trading</strong>&BTNURL=<a data-lark-is-custom="true" href="https://www.mexc.com/futures/BTC_USDT">https://www.mexc.com/futures/BTC_USDT</a>* </span></div><div class="ace-line ace-line old-record-id-doxusnJZz6ujkkQyaHEkfNqxvFf"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-RVcedPVwgoJXIzxdaNvuAyXfsg7"><strong>6. What Is the Funding Rate?</strong></h2><div class="ace-line ace-line old-record-id-doxus69hR79t6gs0X8MtkzQRbfb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-AWB9dWx8yowu8WxIG4wuZiPrsWe"><span style="font-size: 16px;">The <a data-lark-is-custom="true" href="https://www.mexc.com/futures/information/funding_list">funding rate</a> is a core mechanism in perpetual futures markets used to keep futures prices aligned with spot prices. The fee is exchanged directly between long and short position holders, and the platform does not charge any portion of it.</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-DxTCdXDpdoS0qMxpaiauPRZJsOb" data-list="bullet"><div><span style="font-size: 16px;">When the funding rate is positive, long position holders pay funding fees to short position holders.</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-O9hydzzixoPq0rx8rlmueOXis3d" data-list="bullet"><div><span style="font-size: 16px;">When the funding rate is negative, short position holders pay funding fees to long position holders.</span></div></li></ul><div class="ace-line ace-line old-record-id-YurmdhMmDoQdxPxd0v6uVECwsgh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-LHUQdYXlTok7pcx6a2ZuA1XJsJg"><span style="font-size: 16px;">The funding fee is calculated as: Funding fee = Position value × Funding rate</span></div><div class="ace-line ace-line old-record-id-SYOSdbIFno74LHxYwZgug65asig"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-DDrcdKMoJoCaUvxQWXNuQWRlsJc"><span style="font-size: 16px;">Note that funding fees may affect the liquidation price and final profit or loss. Funding settlement times vary by trading pair. Refer to the information displayed on the official website for specific settlement times.</span></div><div class="ace-line ace-line old-record-id-doxusoO9pvHbq8JIjmmpOfGwWHd"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" class="ace-line ace-line old-record-id-doxusQ2hiTkXCFBTenT83GKDsoc"><span style="font-size: 16px;">*BTN-<strong>View Funding Rates</strong>&BTNURL=<a data-lark-is-custom="true" href="https://www.mexc.com/futures/information/funding_list">https://www.mexc.com/futures/information/funding_list</a>* </span></div><div class="ace-line ace-line old-record-id-doxusRBry0WvA2jrVvaPFapD73g"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-ZH1FdU20yoRgX7xUAJFuNNmUs5f"><strong>7. How Is Futures PNL Calculated?</strong></h2><div class="ace-line ace-line old-record-id-doxusXhsp1o2rwipsZkMGkIwBng"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-P32FdVKbloYyAwxriQAuVKQCsNT"><span style="font-size: 16px;">Futures trading mainly uses two settlement methods: Stablecoin-Margined Futures and Coin-M Futures.</span></div><div class="ace-line ace-line old-record-id-I3Rrdd0IRoB9Kqxs5X5uKSBlsDg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-U4URdMD7VopxsHxTkCAu2dKRseh"><span style="font-size: 16px;">Stablecoin-Margined Futures</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-AILHdCBgDoQfP0xb62duCfGOs1g" data-list="bullet"><div><span style="font-size: 16px;">Long position PNL = (Close price − Entry price) × Quantity × Size</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-ZcdsdvtnoozupsxbvyHue3XRssc" data-list="bullet"><div><span style="font-size: 16px;">Short position PNL = (Entry price − Close price) × Quantity × Size</span></div></li></ul><div class="ace-line ace-line old-record-id-Ys4OdhoDUoYYKLxKAo4uLQ6RsAc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Pa0pdPTCQowzcixf2giudV7Gsgg"><span style="font-size: 16px;">Coin-M Futures:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-WRSsd8c1UoPYrsxr1Q2uwf9YsHc" data-list="bullet"><div><span style="font-size: 16px;">Long position PNL = (1 / Entry price − 1 / Close price) × Quantity × Size</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-RLk3d6Q0loaKFSxtUlju8l7Mssf" data-list="bullet"><div><span style="font-size: 16px;">Short position PNL = (1 / Close price − 1 / Entry price) × Quantity × Size</span></div></li></ul><div class="ace-line ace-line old-record-id-doxusW9lbzsO4QuzaKUMgkkK8dc"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-UfROdrDQ5onzZjxYbHfun8E3sVg"><strong>8. What Is Liquidation and How Is the Liquidation Price Calculated?</strong></h2><div class="ace-line ace-line old-record-id-MJr3dMTwQoMHLexS4ZRu8fRVsJf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-XC5FdcnTVouDISxQdaYup0hbsSb"><span style="font-size: 16px;">When margin is insufficient to cover losses, the platform triggers liquidation and automatically closes the position to prevent the account from becoming insolvent. </span></div><div class="ace-line ace-line old-record-id-Iz4PdmE2jo1wnFxllfGueVwBsEg"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-PdB5dqa3oo8t3nxSVrHuyOfnsve"><span style="font-size: 16px;">Liquidation condition: Position Margin + Unrealized PNL ≤ Maintenance Margin</span></div><div class="ace-line ace-line old-record-id-KRCwdJSVHoJHMJx5soouK8vWsgh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-ZXnDdnP6nou7wlxA4PyuqWl2scf"><span style="font-size: 16px;">Liquidation price calculation:</span></div><div class="ace-line ace-line old-record-id-BAVnd4JeMoluBmxuqowucH7isyg"><span style="font-size: 16px;">Long position: Liquidation Price = (Maintenance Margin − Position Margin + Entry price × Quantity × Size) / (Quantity × Size)</span></div><div class="ace-line ace-line old-record-id-I4oQduXM1oajlhxL2sOujRDjsKh"><span style="font-size: 16px;">Short position: Liquidation price = (Entry price × Quantity × Size − Maintenance Margin + Position Margin) / (Quantity × Size)</span></div><div class="ace-line ace-line old-record-id-doxusnYyn8CNzz1RV6TQXWqGyfd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-O6gaduN9kof3hlxLfr8u7FuxsW8"><span style="font-size: 16px;">Example: A user opens a BTC long position when the BTC price is 60,000 USDT with 50x leverage. If the price falls to 58,000 USDT and margin becomes insufficient, the platform will automatically liquidate the position at the liquidation price to prevent further losses.</span></div><div class="ace-line ace-line old-record-id-doxusJErLzc6LxMhAvHcxOgamle"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-PlI7dP2ekozpKnxQHDKu9vFRsMg"><span style="font-size: 16px;">For more details, you can read:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-CCsqd9VpAouQXex8RRYuFbG2sMd" data-list="bullet"><div><a data-lark-is-custom="true" href="https://www.mexc.com/learn/article/what-is-liquidation-a-complete-guide-to-its-mechanism-price-calculation-and-risk-management/1" style="font-size: 16px;">What Is Liquidation? A Complete Guide to Its Mechanism, Price Calculation, and Risk Management</a></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-PwfudkFc3oKWXIxXYoquRAdRsKg" data-list="bullet"><div><a href="https://www.mexc.com/learn/article/understanding-liquidation-risk-faqs-and-protection-tips/1" data-lark-is-custom="true" style="font-size: 16px;">Understanding Liquidation Risk: FAQs and Protection Tips</a></div></li></ul><div class="ace-line ace-line old-record-id-doxusyOECbvlhJgr6P3O3Bq2hGf"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-H5uQd6X1doVm6Nxz4XfuJArMskf"><strong>9. Why Does the Liquidation Price Change?</strong></h2><div class="ace-line ace-line old-record-id-doxuseeqdddFLcFnznv8L9tiLSL"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-doxusvZb4AD02vmxb4qEHaxrl2g"><span style="font-size: 16px;">Changes in your Futures account balance directly affect the liquidation price.</span></div><div class="ace-line ace-line old-record-id-Iu4BdMd8DopAVTxTJTRuT9DFsUd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-ORUSdpHneoLICaxKguqucApOshf"><span style="font-size: 16px;">When users hold both Stablecoin-Margined Futures and Coin-M Futures, funding settlements may cause the liquidation price to rise or fall depending on market conditions.</span></div><div class="ace-line ace-line old-record-id-doxusKGii0YL38JqqPBbdkxkv5e"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Pba6d0ohforXcaxxK8duw23hsne"><span style="font-size: 16px;">Under multi-asset margin mode, liquidation prices may change more frequently than under single-asset margin mode. This is because liquidation prices are calculated based on the combined value of all margin assets, and fluctuations in margin prices will cause corresponding adjustments.</span></div><div class="ace-line ace-line old-record-id-doxusswAGeESaah9SNhTGhqOW5b"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-M6I3dgnaRokRqHxsR6KuBi3lsDc"><strong>10. Why Can't I Increase My Position Size Even With Sufficient Margin?</strong></h2><div class="ace-line ace-line old-record-id-doxusMbo5bJN5kvb5DYKklZY21d"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-OduSdQ8jOos2znxDUSWu8Rs6s3e"><span style="font-size: 16px;">This is usually related to risk limits. On the <a data-lark-is-custom="true" href="https://www.mexc.com/futures/information/risk_limit">Risk Limit</a> page, you can view the maximum position size allowed for each risk tier within the same Futures pair. As position size increases, the maximum allowable leverage decreases. This mechanism is used by the platform to control systemic risk.</span></div><div class="ace-line ace-line old-record-id-doxusVVCPuDvKlEOkOfu442aaxe"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" class="ace-line ace-line old-record-id-doxusxIndUYazWBpv6I1aoGjQEf"><span style="font-size: 16px;">*BTN-<strong>View Risk Limits</strong>&BTNURL=<a data-lark-is-custom="true" href="https://www.mexc.com/futures/information/risk_limit">https://www.mexc.com/futures/information/risk_limit</a>* </span></div><div class="ace-line ace-line old-record-id-doxus8wnqxptGMPkx7a9lMm3oud"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-WDBodVu0xoM7nSxK1zAuPPlosqg"><strong>Conclusion</strong></h2><div class="ace-line ace-line old-record-id-doxusWwQdmvXqwzyqc7SnIzKTCP"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-WB3adIFqGoI1M2xFsYpu2Awwsfb"><span style="font-size: 16px;">Futures trading is a high-risk, high-reward financial tool suitable for users with market judgment and strong risk management awareness. MEXC offers flexible leverage settings, diverse order types, and a transparent fee structure, making it an ideal platform for beginners to learn and practice Futures trading. Before trading, it is recommended to fully understand the rules for trading Futures, develop a reasonable trading strategy, and implement proper risk controls to steadily improve your trading skills.</span></div><div class="ace-line ace-line old-record-id-Ofx8d50A4oFo2dxGvZ7ugFQhsWg"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-ZPpndZnOmohwQDxLGp4uiiUpsBh"><span style="font-size: 16px;">Learn More About MEXC Futures: </span></h3><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-VVafdFQaro0giKximqbusOePsKc" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/time-in-force-tif-for-futures-trading-305427906242034688">Time in Force (TIF) for Futures Trading: A Complete Guide</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-XL6Jd97WmoyPyjxf3uruDO71skh" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/mexc-futures-funding-rate-305432020820705280">MEXC Futures Funding Rate: Calculation Methods and How to View Funding Rates</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-QNh1dZAORoOAWyxaNSYue2E3slh" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/mexc-app-navigation-305429821797449728">MEXC App Navigation: Complete Guide</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-IoMQdL5y5os5JjxxjDfuEx3TsSd" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/faq-on-index-price-fair-price-and-last-price-7950960183961">FAQ on Index Price, Fair Price, and Last Price</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-KOqHdQVqaoFlf1xhWHQuvumcsrh" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/faq-on-auto-deleveraging-adl-8127010829081">FAQ on Auto-Deleveraging (ADL)</a></span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-U1Ovdoug6ocI2GxLlAyuOU3Isgb" data-list="bullet"><div><span style="font-size: 16px;"><a href="https://www.mexc.com/support/article/futures-trading-page-terminology-guide-7951093588505">Futures Trading Page Terminology Guide</a></span></div></li></ul><div class="ace-line ace-line old-record-id-doxusYcXqSf8egjvyZzxtRsM0eg"><span style="font-size: 16px;"><br></span></div></div>
FAQ on Index Price, Fair Price, and Last Price
<div data-page-id="OCi0dqZDQoU7p7xTQyQu8u0xsLf" data-lark-html-role="root" data-docx-has-block-data="true"><div class="ace-line ace-line old-record-id-doxus9Uo3BqqRbU8pvqqiwbprtb"><span style="font-size: 16px;">In MEXC Futures trading, index price, fair price, and last price are three core price references. Each serves a different purpose in pricing, risk control, and trade execution. This article explains the definitions, calculation logic, and practical usage of these three prices.</span></div><div class="ace-line ace-line old-record-id-doxusxmnmvyhch5fSGfLpmawSif"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-GuCbdo3LjoVfNsxS2M3unwJ4ss3"><strong>1. Index Price: Basics and Calculation</strong></h2><div class="ace-line ace-line old-record-id-doxusHYbOkTHGVXKHJwIvZQk3wW"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-WZ5bd2wzboMS54xUCq0u6XAysId"><span style="font-size: 16px;">1.1 What Is the Index Price?</span></h3><div class="ace-line ace-line old-record-id-doxusrT25lFJ6S4rfYB1da3tATe"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Ae1mdrKiGo1FUzxeOOMupTM6sRh"><span style="font-size: 16px;">The index price is the weighted average price of the underlying asset across major spot exchanges. All MEXC Futures use prices from leading exchanges as index sources. The index price updates continuously as the underlying asset price changes, reflecting the asset's true market value.</span></div><div class="ace-line ace-line old-record-id-doxusrE1Rjw9w0NypLMMJqTbTRh"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-P28qd1XJTo71DIxlaJluDjOMsNf"><span style="font-size: 16px;">The index price is designed to reduce risks caused by price volatility and market manipulation by providing a more stable pricing reference. It represents the fair market value across the broader market.</span></div><div class="ace-line ace-line old-record-id-doxusbnERdpTUNijNey4bcKz3cg"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-AAq7din3QoLEPNxrpVPudEZcsxd"><span style="font-size: 16px;">1.2 How Is the Index Price Calculated?</span></h3><div class="ace-line ace-line old-record-id-doxusi4NH0P9Yrh8uoqCh36wOng"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Zc3vduOdkoLFg3x0feauCeIusoR"><span style="font-size: 16px;">The index price is calculated as follows:</span></div><div class="ace-line ace-line old-record-id-doxusanTiAY1YRV6KnyvdsM3yqb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-V2QVduIzso490yxbSvKu4Yi0sBd"><span style="font-size: 16px;">Index Price = (Weight % of Exchange A × Asset Price on Exchange A) + (Weight % of Exchange B × Asset Price on Exchange B) + … + (Weight % of Exchange N × Asset Price on Exchange N)</span></div><div class="ace-line ace-line old-record-id-doxusWUurTG36Pe7ODWcVmvjMGc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-CdotdgefXo9YmYxo4oxuRUiBsyg"><span style="font-size: 16px;">Where:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-BnJddAtpQoJB2bxd2Xlu2qaZsHd" data-list="bullet"><div><span style="font-size: 16px;">Weight % of Exchange i = Weight of Exchange i / Total Weight</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-ZlhDdRhBTo5y8zxQBwIu2XQbsHf" data-list="bullet"><div><span style="font-size: 16px;">Total Weight = Weight of Exchange A + Weight of Exchange B + … + Weight of Exchange N</span></div></li></ul><div class="ace-line ace-line old-record-id-doxusMTBrQsQwIMHskrUe0tt6ng"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-LRkYdTUsdorpiGxwVzHujWYJsNc"><span style="font-size: 16px;">MEXC periodically updates index components and their weights. In cases of extreme market conditions or abnormal price deviations, MEXC may implement additional protective measures, including but not limited to adjusting index components and weights.</span></div><div class="ace-line ace-line old-record-id-doxus7Cvy3OGVRnrYSe0gXmYptb"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-BH5Gdg06XoIfdIx5i88uFm72sUf"><span style="font-size: 16px;">1.3 What Protection Mechanisms Apply to the Index Price?</span></h3><div class="ace-line ace-line old-record-id-doxusyzpqp8Mns9ZwNM5ufGqd9e"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Zql5d328YoDGjpxRauLu71PIsOg"><span style="font-size: 16px;">To ensure index price fairness, MEXC applies the following protection mechanisms:</span></div><div class="ace-line ace-line old-record-id-doxusct51WeaVqzXQ2yXXuLSS1d"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-SUm8dKIFEoLozyxEqQfumPR0sBf"><span style="font-size: 16px;"><strong>Delayed Data Exclusion: </strong>If an exchange's market data updates slowly over an extended period or shows abnormal price deviations, its data will be excluded from index calculation. Once data quality returns to normal, it may be re-included.</span></div><div class="ace-line ace-line old-record-id-doxus0tafQBdV0OXPjuZRbmxlCc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-LHhEdV11KoXcHExEUhWu8XDeskg"><span style="font-size: 16px;"><strong>Price Deviation Protection: </strong>If a Spot price from a specific exchange deviates by more than ±1% from the median price of all included exchanges, MEXC will exclude that exchange's price from the calculation. This rule does not apply when fewer than three exchange prices are available. During extreme market conditions, MEXC may adjust the deviation threshold for certain trading pairs or exempt them from this rule.</span></div><div class="ace-line ace-line old-record-id-doxusHoJdmCr7n3ija8EKeXo9rh"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-JfB5dY4jvob0ZaxNwmVuuIMRsOc"><strong>2. Fair Price: Basics and Calculation</strong></h2><div class="ace-line ace-line old-record-id-doxusXBXJodC4ev0GXhsKjG0cUc"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-OrVfd5ygloWxB1x1S2Uu6UfOsFg"><span style="font-size: 16px;">2.1 What Is the Fair Price?</span></h3><div class="ace-line ace-line old-record-id-doxusr2kVSLgINHaLzW3hn793Oe"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-M4iSdEIoxo6rLJxRnCouTpDSsnc"><span style="font-size: 16px;">The fair price is calculated using the index price and a moving average of the basis. To enhance Futures market stability and reduce unnecessary liquidations during abnormal volatility, MEXC Futures use a uniquely designed fair price marking system.</span></div><div class="ace-line ace-line old-record-id-doxusYGafL9hoRzMoFNor1ctMed"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-J7JBdujk6oG6mOx0ULFu856Ys6i"><span style="font-size: 16px;">Instead of using the last price, the system marks positions based on the fair price. This prevents unnecessary deviations between in-market prices and the index caused by manipulation or low liquidity, thereby avoiding unnecessary liquidations. The fair price is a core risk-control mechanism designed to protect traders.</span></div><div class="ace-line ace-line old-record-id-doxuscNCTVMOli5eThuvlPSZRtA"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-P0hQdNiWNoiJVYxtXLNu1Pg2sAh"><span style="font-size: 16px;">2.2 How Is the Fair Price Calculated?</span></h3><div class="ace-line ace-line old-record-id-doxusK15wCJFugRaxpMQaRlvpih"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-AHREde3hkoiLmox16rVuj24UsIc"><span style="font-size: 16px;">The fair price is calculated as:</span></div><div class="ace-line ace-line old-record-id-doxusugmgu2pLNFm67p2rnRZXgf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-BFXLdVvx9org4mxpzRRuqm8osFd"><span style="font-size: 16px;">Fair Price = Median (Funding Premium, Mid-Price Basis Fair Price, Last Price)</span></div><div class="ace-line ace-line old-record-id-doxus5BZsmHmBbTRUiz4tZK9s6g"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-Vp6Pd2KvyofZtPxrWYdubkk7sEf"><span style="font-size: 16px;">Where:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-B6NDd7vj4orHqtx3ycguzTGYsGe" data-list="bullet"><div><span style="font-size: 16px;"><strong>Funding Premium</strong> = Index Price × [1 + Latest Funding Rate × (Hours Until Next Funding / Funding Interval Hours)]</span></div></li><li style="white-space:pre;;text-align:left" class="ace-line ace-line old-record-id-G9uydcwL4olJwPxto1BuN8yts7g" data-list="bullet"><div><span style="font-size: 16px;"><strong>Mid-Price Basis Fair Price</strong> = Index Price + Basis Moving Average (specified period)
= Index Price + Moving Average [(Best Bid + Best Ask) / 2 − Index Price]</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-IMlVd6AyzopedLxT8O2ulnk6sQh" data-list="bullet"><div><span style="font-size: 16px;"><strong>Last Price</strong> = The most recent Futures trade price, updated in real time.</span></div></li></ul><div class="ace-line ace-line old-record-id-doxusKzo4svtZoamhiXyvvutehh"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-I25vdweOIo2npAx1HC4uYbm9spd"><span style="font-size: 16px;">2.3 What Trading Data Does the Fair Price Affect?</span></h3><div class="ace-line ace-line old-record-id-doxuslwANhxdpPLsvM5MP5POcLe"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-DuHtdUw72oMhoxxz88hu02Vrsvh"><span style="font-size: 16px;">The fair price only affects liquidation price and unrealized PNL. It does not affect realized PNL. This means that after an order is filled, you may immediately see positive or negative unrealized PNL due to a slight difference between the fair price and the execution price. This is normal and does not indicate an actual loss. Traders should focus on the liquidation price based on the fair price to avoid premature liquidation.</span></div><div class="ace-line ace-line old-record-id-doxusoJOr98InqO8QrH3KBLpVib"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-VCmJdN3zao7zBAxWsUyuNF7DsNg"><strong>3. Last Price: Basics</strong></h2><div class="ace-line ace-line old-record-id-doxuskJYxNIelXoFfsqTmkFe3Md"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-DXODdmpCgoukiOx6uJwuBDv4sIc"><span style="font-size: 16px;">3.1 What Is the Last Price?</span></h3><div class="ace-line ace-line old-record-id-doxus7IGb90DdGRjKo5sXrlPWgf"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-G4X1dpzkcoRIHmxyf4quolkas3N"><span style="font-size: 16px;">The last price is the most recent execution price in the MEXC Futures order book. It directly reflects real-time trading activity on the MEXC platform and represents the actual price of the latest matched trade between buyers and sellers.</span></div><div class="ace-line ace-line old-record-id-doxusExqQ771Yjm9OIlXI2zL19e"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-W5BNdL4vRoAyzYxmEV2uNNftsWf"><span style="font-size: 16px;">The last price directly determines the execution price of market orders. While it has the highest immediacy, it is also the most susceptible to large orders or insufficient market depth, which can cause sharp price fluctuations.</span></div><div class="ace-line ace-line old-record-id-doxusBYNcrTPpS82DMNlolKz3Ie"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-Afr4dqiJuoOqXBxsPRBuJ5kHsZc"><strong>4. Key Differences Between Index Price, Fair Price, and Last Price</strong></h2><div class="ace-line ace-line old-record-id-doxusn6Daxr6eYui4WHhf6zpY7d"><span style="font-size: 16px;"><br></span></div><div><table class="ace-table" data-ace-table-col-widths="131;222;236;227" style="border:none;border-collapse:collapse;table-layout:fixed;width:500px;"><colgroup><col width="131"><col width="222"><col width="236"><col width="227"></colgroup><tbody><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-VNStd4RajonPBtxNBUcukk4xsGg"><strong style="font-size: 16px;">Comparison </strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-H6VQdJjQeoVmdXxKPwKu6mHosTc"><strong style="font-size: 16px;">Index Price</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-WcQhdmSLooEv9LxSDaou8wVQsUf"><strong style="font-size: 16px;">Fair Price</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-Wg3Ld0nC2ov4Pkx9KW8uWEHMs1J"><strong style="font-size: 16px;">Last Price</strong></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-SblBdPXzgoUYQYxJdU8utKKDsyd"><strong style="font-size: 16px;">Core Definition</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-NfXydLL5ho9rcOxQXqTuO4qwsOc"><span style="font-size: 16px;">Weighted average price across major exchanges</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-EoujdlNyuogID9xAs8HujNhAsUf"><span style="font-size: 16px;">Smoothed price based on index price and basis moving average</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-NKbpds3sEoXQ37x6VlUuudjpsGe"><span style="font-size: 16px;">Real-time execution price on MEXC</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-OTgrdSuxwo7l5yxef9tutSoGsng"><strong style="font-size: 16px;">Primary Function</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-LyHXdXoX4oSDJUxysTDubTBNs7g"><span style="font-size: 16px;">Anchor fair market value and prevent single-platform manipulation</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-OIs3dBbs9ougGyxd2QauBAgosqd"><span style="font-size: 16px;">Calculate unrealized PNL and trigger liquidation</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-PXd8d8YtboaRCtxgU2duL247sdV"><span style="font-size: 16px;">Execute trades and calculate realized PNL</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-SmLrdw3nLo1OwwxLrZ1uFyiusWe"><strong style="font-size: 16px;">Trader Impact</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-HIyYdicn7oZPIHxawvcuKf6zsEd"><span style="font-size: 16px;">Indirect; forms the basis of fair price</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-WyCZdompqomT8ixuo5rug9gOsSb"><span style="font-size: 16px;">Directly affects unrealized PNL and position safety</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-H3IZd5HsAoH324xfBM5uwyWTsub"><span style="font-size: 16px;">Directly affects actual entry and exit prices</span></div></td></tr><tr style="height:39px;"><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-KiFNdAmomoNOH3xHMqcuDOpGs7x"><strong style="font-size: 16px;">Price Characteristics</strong></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-BNkGdiwx2oQZvCxPhiNuaBrTsjd"><span style="font-size: 16px;">Relatively stable, reflects market-wide trend</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-LAZ2dUdwIoTjjFxIUmmuVkfZsIf"><span style="font-size: 16px;">Smoothed, filters short-term volatility</span></div></td><td colspan="1" rowspan="1" style="border: 1px solid rgb(222, 224, 227); padding: 8px; vertical-align: top; font-size: 10pt;"><div style="text-align:center" class="ace-line ace-line old-record-id-RZ6WdCYeqof2pvxfHnnuZP85sMg"><span style="font-size: 16px;">Most immediate, but also most volatile</span></div></td></tr></tbody></table></div><div class="ace-line ace-line old-record-id-MO8GdrBS1o31dhxP1z6uDtFCsOh"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-AHBjdzjyjo9rrAxJgHZu65TAsJe"><strong>5. How to Switch Between Index Price, Fair Price, and Last Price on MEXC</strong></h2><div class="ace-line ace-line old-record-id-doxus71zGiu9R4UH7d4umg4ezl5"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-KD96deHZeoGTE0xM3UluitiHsif"><span style="font-size: 16px;">5.1 How to Switch Price Display on MEXC Web?</span></h3><div class="ace-line ace-line old-record-id-doxuseymumrNhC8D15UCypRTQRd"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-XFvXdeZDFolmIQxtH1ducEXKs2f"><span style="font-size: 16px;">Steps:</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-Qfk0dgLH2oARt6x3QMFutBbesUo"><span style="font-size: 16px;">1) Open the MEXC <a data-lark-is-custom="true" href="https://www.mexc.com/futures/BTC_USDT">Futures trading</a> page.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-YG14d7ATLovNGTx7lO8uJlIRsKd"><span style="font-size: 16px;">2) Hover over <strong>Last Price/Index Price/Fair Price ▼</strong> above the candlestick chart.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-H1KkdYeDto9zQJxK0ScuFxNoshc"><span style="font-size: 16px;">3) Select the price type you want from the dropdown menu.</span></div><div class="ace-line ace-line old-record-id-J7cTdzv2Uo29LzxUAw7u6VnpsVb"><span style="font-size: 16px;">You can also view real-time index price and fair price next to the trading pair.</span></div><div class="ace-line ace-line old-record-id-doxuspgWnq7Ok6JxmdfpFR5PHzd"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" class="ace-line ace-line old-record-id-doxusVfMPIJ1u6TDjkvdtbNkamg"><span style="font-size: 16px;">*BTN-<strong>Futures Trading</strong>&BTNURL=<a data-lark-is-custom="true" href="https://www.mexc.com/futures/BTC_USDT">https://www.mexc.com/futures/BTC_USDT</a>*</span></div><div class="ace-line ace-line old-record-id-doxusj9vriEUhFGbofGCO4BM5tb"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"ffec6743-0ada-49d1-b0f3-0c91bdb07b0a","height":1296,"width":2934,"currHeight":1296,"currWidth":2934,"natrualHeight":1296,"natrualWidth":2934,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FRluzbfR4robFyJxHCWLuZaEWsjc%2F%3Fpreview_type%3D16","file_token":"RluzbfR4robFyJxHCWLuZaEWsjc","image_type":"image/png","size":861168,"comments":[]}]}" class="image-uploaded gallery old-record-id-doxusVWupRzvHSqX6nK0ahdArMc"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260216130836545XOYt86sSbZLcNL.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJSbHV6YmZSNHJvYkZ5SnhIQ1dMdVphRVdzamMiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiZG94dXNWV3VwUnp2SFNxWDZuSzBhaGRBck1jIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9SbHV6YmZSNHJvYkZ5SnhIQ1dMdVphRVdzamMvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/RluzbfR4robFyJxHCWLuZaEWsjc/?mount_node_token=doxusVWupRzvHSqX6nK0ahdArMc&mount_point=docx_image" data-width="2934" data-height="1296" data-lark-image-uri="drivetoken://RluzbfR4robFyJxHCWLuZaEWsjc" data-lark-image-width="2934" data-lark-image-height="1296" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxush3niJfXPcNY9HLncJwE3xf"><span style="font-size: 16px;"><br></span></div><h3 class="heading-3 ace-line old-record-id-O8P8dTbrDokXpRxBzQJutxGfsWc"><span style="font-size: 16px;">5.2 How to Switch Price Display on the MEXC App?</span></h3><div class="ace-line ace-line old-record-id-doxusmQ2oMI1CLbjPYfaxKvtbxb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-BZi6dVKlhoSIw2xKg2AueST4sbh"><span style="font-size: 16px;">Steps:</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-HdRZdEJHioLdgRxYeVYunKopsfd"><span style="font-size: 16px;">1) Open the MEXC App and tap <strong>Futures</strong> at the bottom.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-WCwDdyH7Woupe6xInbpuLRHTsad"><span style="font-size: 16px;">2) On the Futures trading page, tap the candlestick icon.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-LuOKdpPABomjlYxTWHwugCQhsne"><span style="font-size: 16px;">3) On the candlestick trading page, tap <strong>Last Price/Index Price/Fair Price ▼</strong> above the chart.</span></div><div style="text-align:left" class="ace-line ace-line old-record-id-AYYrdzlLGowY5ExhORpudqYasJh"><span style="font-size: 16px;">4) Select the desired price type to complete the switch.</span></div><div class="ace-line ace-line old-record-id-doxusT6GxlqBV6uMBsYIhGBEm2f"><span style="font-size: 16px;"><br></span></div><div style="text-align:center" data-type="image" data-ace-gallery-json="{"items":[{"uuid":"1c1d08fb-de68-4272-a702-437c2b2dacd4","height":2160,"width":4173,"currHeight":2160,"currWidth":4173,"natrualHeight":2160,"natrualWidth":4173,"pluginName":"imageUpload","scale":1,"src":"https%3A%2F%2Finternal-api-drive-stream.larksuite.com%2Fspace%2Fapi%2Fbox%2Fstream%2Fdownload%2Fpreview%2FTAeNbAa6wowb2mxtb6LuxafSsof%2F%3Fpreview_type%3D16","file_token":"TAeNbAa6wowb2mxtb6LuxafSsof","image_type":"image/png","size":2462897,"comments":[]}]}" class="image-uploaded gallery old-record-id-doxusw75wt0jwLpBNwL6Q7jSIhR"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20260216130837104RhyEseAUzhEtYd.png" data-single-block="true" data-snapshot="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" data-suite="eyJmaWxlVG9rZW4iOiJUQWVOYkFhNndvd2IybXh0YjZMdXhhZlNzb2YiLCJvYmpUeXBlIjoiZG9jeCIsIm9ialRva2VuIjoiZG94dXN3NzV3dDBqd0xwQk53TDZRN2pTSWhSIiwib3JpZ2luU3JjIjoiaHR0cHM6Ly9pbnRlcm5hbC1hcGktZHJpdmUtc3RyZWFtLmxhcmtzdWl0ZS5jb20vc3BhY2UvYXBpL2JveC9zdHJlYW0vZG93bmxvYWQvcHJldmlldy9UQWVOYkFhNndvd2IybXh0YjZMdXhhZlNzb2YvP3ByZXZpZXdfdHlwZT0xNiJ9" data-src="https://internal-api-drive-stream.larksuite.com/space/api/box/stream/download/all/TAeNbAa6wowb2mxtb6LuxafSsof/?mount_node_token=doxusw75wt0jwLpBNwL6Q7jSIhR&mount_point=docx_image" data-width="4173" data-height="2160" data-lark-image-uri="drivetoken://TAeNbAa6wowb2mxtb6LuxafSsof" data-lark-image-width="4173" data-lark-image-height="2160" data-host-from-cloud="true" style="max-width: 100%; height: auto; border-radius: 12px; font-size: 16px; width: 750px;"></div><div class="ace-line ace-line old-record-id-doxusptPyzwnquq5tms8kXiXSJb"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-RMgzd4JGRolf1zxTcluuoR7ssor"><strong>6. Why Does a Loss Appear Immediately After Opening a Position?</strong></h2><div class="ace-line ace-line old-record-id-doxusK8VOENmarwdYswUoPpT1Tc"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-MMDldEBz0oKepFx6WkjuJA71s2n"><span style="font-size: 16px;">This occurs because your entry price is based on the last price, while unrealized PNL is calculated using the fair price. When there is a small difference between the two, unrealized gains or losses may appear immediately.</span></div><div class="ace-line ace-line old-record-id-doxus0niBnLWRNPtAor73Q9J4Ka"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-R23WdGun3orjeYxGYESusQOBssc"><span style="font-size: 16px;">This does not mean you have actually lost funds. It is normal Futures trading behavior caused by different pricing references. Traders should focus on the liquidation price based on the fair price, not solely on last price fluctuations.</span></div><div class="ace-line ace-line old-record-id-doxusy4DwC1iex71Eft6ga4SH9b"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-AtKsdF33CobQqNxZd51uwIOgs7e"><strong>7. Which Price Is Used to Calculate the Liquidation Price?</strong></h2><div class="ace-line ace-line old-record-id-doxusFB5ieK1ZSB96eYGtRcGpnl"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-IQGudFSm5oAdDixMM4UuEFc7svc"><span style="font-size: 16px;">Liquidation is based on the fair price, not the last price. This design protects traders from brief abnormal price spikes. Even if the last price on the chart momentarily touches the liquidation level, the position will not be liquidated as long as the fair price remains within a safe range. Therefore, traders should always monitor the distance between the fair price and the liquidation price.</span></div><div class="ace-line ace-line old-record-id-doxusqoMZ5QE9NyZ89YYUxXKHth"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-Yq9NdZGSpoNpjGx0lP4uucEUs5g"><strong>8. Can the Index Price Be Manipulated?</strong></h2><div class="ace-line ace-line old-record-id-doxuscL3x4nkmzjRWKDURYXhz0f"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-CU5Ud24ztoWqp6xIJtTu8AKhscb"><span style="font-size: 16px;">In theory, it is extremely difficult. Since the index price is derived from a weighted average across multiple major exchanges, manipulating it would require deploying a massive amount of capital simultaneously across several large exchanges, an extremely costly and impractical endeavor.</span></div><div class="ace-line ace-line old-record-id-doxusl7TTop2bbsAurS92NbHobb"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-ZT0Pdi5nRo03fGxfkIvucLSzsFh"><span style="font-size: 16px;">In addition, MEXC's price protection mechanisms (such as excluding deviating or delayed data sources) further increase the difficulty of manipulation and effectively protect traders.</span></div><div class="ace-line ace-line old-record-id-doxusD5pc8IP0fnhYLwMUt2QWid"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-E4a3dz2NYoXKUtxfxqtuT4Yescb"><strong>9. What Does a Large Gap Between the Last Price and Fair Price Indicate?</strong></h2><div class="ace-line ace-line old-record-id-doxusegoOKc0czpon66ljMbVPee"><span style="font-size: 16px;"><br></span></div><div class="ace-line ace-line old-record-id-AixDdEO4Xo6JunxPiMxupdbos9e"><span style="font-size: 16px;">A significant difference between the last price and the fair price usually indicates:</span></div><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-P7WQdX7MuoY2sRxdzXZutRkLsoh" data-list="bullet"><div><span style="font-size: 16px;"><strong>Extreme </strong><strong>market volatility</strong><strong>:</strong> Intense market sentiment (panic or euphoria) drives the last price rapidly, while the fair price lags due to its smoothing mechanism.</span></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-ULx3dmbOAoZKlUxlpdWuSXojsUg" data-list="bullet"><div><span style="font-size: 16px;"><strong>Insufficient liquidity:</strong> Low liquidity on a platform makes the last price more susceptible to large orders.</span></div></li></ul><div class="ace-line ace-line old-record-id-AXmbdYup4obFaexO3Fbu9UMWsbh"><span style="font-size: 16px;">This is an important warning signal for traders, indicating elevated market risk and potential severe slippage. </span></div><div class="ace-line ace-line old-record-id-doxusFaKykc64YwRE2cHPN7w41b"><span style="font-size: 16px;"><br></span></div><h2 class="heading-2 ace-line old-record-id-Tqc2dVqKXoUW4qxC4NZuiuzksmb"><span style="font-size: 16px;">Recommended Reading:</span></h2><ul start="1" class="list-bullet1"><li style="text-align:left" class="ace-line ace-line old-record-id-FlUtdG80doqlAOxagELuaYcLsDe" data-list="bullet"><div><a data-lark-is-custom="true" href="https://www.mexc.com/support/article/futures-trading-faq-305425827477864448" style="font-size: 16px;">Futures Trading FAQ: A Complete Beginner's Guide</a></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-BdRrdZqVdoWdhqxxxhRuV85usEf" data-list="bullet"><div><a href="https://www.mexc.com/support/article/time-in-force-tif-for-futures-trading-305427906242034688" data-lark-is-custom="true" style="font-size: 16px;">Time in Force (TIF) for Futures Trading: A Complete Guide</a></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-Vb3WdeSJxoz3OTxqQ6xuuQPzshd" data-list="bullet"><div><a href="https://www.mexc.com/support/article/futures-trading-page-terminology-guide-7951093588505" data-lark-is-custom="true" style="font-size: 16px;">Futures Trading Page Terminology Guide</a></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-IRs1d3BTNoIpzjxdnYlutfEAsce" data-list="bullet"><div><a href="https://www.mexc.com/support/article/a-complete-guide-to-futures-information-terminology-305436590665908224" data-lark-is-custom="true" style="font-size: 16px;">A Complete Guide to Futures Information Terminology</a></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-Pa4wdUmYBoV2KOxcnwVuMzstsDe" data-list="bullet"><div><a href="https://www.mexc.com/support/article/how-to-trade-futures-on-the-mexc-app-305421274812529664" data-lark-is-custom="true" style="font-size: 16px;">How to Trade Futures on the MEXC App</a></div></li><li style="text-align:left" class="ace-line ace-line old-record-id-Fo71dkduqoa1hrx6CyfucxRqswg" data-list="bullet"><div><a href="https://www.mexc.com/support/article/how-to-trade-futures-on-mexc-web-305423980641926144" data-lark-is-custom="true" style="font-size: 16px;">How to Trade Futures on MEXC Web</a></div></li></ul><div class="ace-line ace-line old-record-id-doxusWR59HSOyPI4t5hHx41prih"><span style="font-size: 16px;"><br></span></div></div>