What is the BTC/ USDT Vanilla contract?
BTC/ USDT Vanilla contract is a linear contract. Each contract has a face value of 0.001 BTC. Traders can long a position to profit from the increase of a digital asset's price, or short a position to profit from the decline of a digital asset's price. The margin used for a linear contract is USDT. BTC/USDT Vanilla perpetual contract consists of the following:
The calculation of margin and P&L of USDT perpetual contract is straightforward. When trading 1 BTC and the price moves by 100 USDT, the profit/loss of the trader will be 100 USDT. The PnL chart of the USDT contracts will be a linear curve.
USDT perpetual contract uses stable coin as margin and thus, traders do not have to hedge their position to avoid the risk of holding volatile cryptocurrency.
How to deposit USDT?
Traders can navigate to Balances page and click on USDT deposit. AAX accepts USDT deposits from Omni based on the Bitcoin network and ERC20 from the Ethereum network. The arrival time of the deposit is generally about ten minutes. Traders can also make use of the spot market to exchange other cryptocurrencies such as BTC or ETH to USDT for trading. For specific steps on how to make a deposit, please click here.
What is the highest leverage supported by USDT contracts?
AAX BTC/USDT vanilla contracts support up to 100x leverage.
What margin mode does AAX support?
AAX currently supports cross margin mode. In this mode, your liability is limited to the initial margin posted. In the event of a liquidation, any Realized PnL from other positions can aid in adding margin on a losing position.
How to withdraw USDT? Which method of withdrawal does AAX support?
At the moment, AAX only supports withdrawal via ERC20 and Omni. For the steps on how to make a withdrawal, please click here.
Is the insurance fund of USDT contracts shared among all coins?
Unlike inverse contract which uses the underlying coin as settlement, all USDT contracts will use USDT as settlement. Hence, the USDT insurance fund is shared among all other vanilla contracts.
For more information on vanilla contract's information and example, please refer to Understanding AAX's Vanilla Contract. If you would like to know how to execute vanilla contracts on AAX, please refer to our step-by-step guide on how to trade Vanilla Contract.
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