Futures
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Bitget Futures: One-Way Mode
2022-11-15 02:3711215
1. What is One-Way Mode?
One-way mode means that positions of one way is allowed under a futures coin pair, and long and short positions are not available at the same time. Currently, U- m futures, Coin- M futures, and USDC futures are all available for the switch between one-way mode and hedge mode, and it will be effective to all corresponding coin pairs under the futures. For example, if you switch from the hedge mode to the one-way mode of U-M futures, it will take effect for all coin pairs under the U contract, but will not affect the position pattern of the U-M futures and the USDC futures. Currently Bitget defaults to the hedge mode.
Example:
If you hold 5 long BTCUSDT positions currently, and you want to sell 2 BTCUSDT at this time, the remained positions will be 3 long BTCUSDT after a successful sale; if you sell 7 BTCUSDT, the positions will be 2 short BTCUSDT after a successful sale. But in hedge mode, it is possible to hold 5 long BTCUSDT and 2 short BTCUSDT at the same time.
Note: Currently, one-way mode does not support copying orders and leading orders. If you are a trader and open a position under one-way mode, your copiers will not follow the position; if you are a copier and take the one-way positions, you will not follow when the trader's leading order positions are opened. Bitget will loosen the restrictions on copying orders and leading orders from one-way mode according to the situation, and an announcement will be released at that time.
2. Reduce Only
One-way mode only supports buying and selling. It is different from hedge mode, which supports opening and closing positions, and opening a long position corresponds to closing a long position, while opening a short position corresponds to closing a short position. For one-way mode, if you want to close your long positions, you have two options, to sell the corresponding number of positions directly, or to sell the corresponding number of positions by reducing only. The Reduce Only corresponds to the Reduce Only Type, which is Yes if the position is in Reduce Only mode, otherwise it is No. Reduce Only works only for the current position.
3. Openable Positions for One-Way Mode
Openable positions refer to the maximum number of buying or selling when the current coin pair of user’s account is at the current leverage and at a certain price. Openable positions of one-way mode are different from that of hedge mode. The calculation of long and short openings for a coin pair is based on the corresponding long and short opening capital respectively.
Long Opening capital = Available capital + Long Compensation Margin - Margin for the long position of the coin pair - Margin for long orders of the coin pair
Short Opening capital = Available capital + Short Compensation Margin - Margin for short positions of the coin pair - Margin for short orders of the coin pair
Among wich:
When (the margin of the long position of the coin pair + the margin of the long open orders) is greater than (the margin of the short position + the margin of the short open orders); the compensation margin of long positions = the margin of the long position of the coin pair + the margin of the long open orders, and the compensation margin of the short open orders = the margin of the long position of the coin pair + the margin of the long open orders + the margin of the long position of the coin pair.
When (the margin of the long position of the coin pair + the margin of the long open orders) is smaller than (the margin of the short position + the margin of the short open orders); the compensation margin of long positions = the margin of the short position of the coin pair + the margin of the short open orders + the margin of the short position of the coin pair, and the compensation margin of the short open orders = the margin of the short position of the coin pair + the margin of the short open orders.
The maximum buy volume and maximum sell volume for the user is then determined by the limits of the corresponding leverage level of the coin pair.
- Take the maximum openings of the coin pair under the openable capital and current leverage as M1, and take the openable capital of the coin pair as the margin occupied by all orders. You can get:
- Calculate the total position of the coin pair, then check the maximum openable position M2 corresponding to the tiered position table.
- Take the minimum value of the current position of M1 and M2, and the maximum openings = min(M1, M2 - current positions and orders). Here the current positions and orders have long ones and short ones. If the maximum openable amount of the buy is calculated, the current positions and orders are the long ones, otherwise they are the short ones.
4.Risk Control of One-Way Positions
The calculation of frozen margin for a coin pair differs between one-way mode and hedge mode in the risk control calculation.
For the hedge mode, the frozen margin of the coin pair = MAX (the margins of the long and short positions of the coin pair respectively) + the frozen margin of the long positions of the coin pair + the frozen margin of the short positions of the coin pair.
For the one-way mode, the frozen margin of the coin pair = MAX (the margin of the long positions of the coin pair + the frozen margin of the long open orders of the coin pair, and the margin of the short positions of the coin pair + the frozen margin of the short open orders of the coin pair)
When the available balance of your account is less than the required maintenance margin for the position, the system will reduce or liquidate your position. Please take care of managing your account to avoid any risk of position reduction or liquidation.
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