> ## Knowledge Base Index > Fetch the complete knowledge base index at: https://support.mixin.one/sitemap.xml > Use this file to discover available pages before exploring further. > Pure-Markdown content can be obtained by appending a '.md' suffix to the content URLs listed in the sitemap (without the trailing slash). # How to Trade USDT-Margined Perpetual Futures in Mixin ## Overview Mixin Perpetual Futures are a type of **derivatives trading settled in stablecoins**. Unlike spot trading, perpetual futures allow users to **profit from price movements** without actually owning the underlying asset. In perpetual futures: * **Long**: Use when you expect the price to rise — you profit if the price rises * **Short**: Use when you expect the price to fall — you profit if the price falls * **Leverage**: Amplifies your trading capital, increasing both potential profits and losses ### Key Features * **No expiry**: Unlike traditional futures, perpetual contracts have no settlement date and can be held indefinitely * **Bi-directional trading**: Go long or short — trade in both rising and falling markets * **Up to 200x leverage**: Amplify potential returns (and risks) * **Isolated margin mode**: Each position manages its own risk independently ||| ⚠️ Risk Warning: Leverage amplifies both profits and losses. Please use high leverage with caution. ## How to Use ### **0. Update App Version** Please update Mixin **version 4.0.0 or later**: 👉 https://messenger.mixin.one/download ### **1. Enter the Perpetual Futures Page** 1. Open **Mixin** 2. Go to the **Wallet** tab 3. Tap **Trade** 4. Switch to the **Perpetual Futures** tab ![](https://storage.crisp.chat/users/helpdesk/website/-/7/1/9/9/71991a4db339f000/en001_1gr7iu4.jpeg) ### **2. Select a Contract** You can enter a position in two ways: * **Method 1**: Tap **Long / Short** at the bottom, then select a trading pair * **Method 2**: Choose a contract from the market list, then tap **Long / Short** ### **3. Open a Position** 1. Enter your **margin (initial investment)** 2. Select your **leverage** The system will automatically calculate your **Position Size**. ![](https://storage.crisp.chat/users/helpdesk/website/-/7/1/9/9/71991a4db339f000/en002_bswfbn.jpeg) ||| The app provides built-in guidance for Long, Short, Leverage, and Position Size to help you understand these concepts. ### **4. Preview & Confirm** Review the following details: * Trading pair * Margin amount * Leverage After confirming everything is correct, enter your **PIN** to submit the order. ### **5. Close a Position** 1. Go to your **Positions** 2. Enter the contract details page 3. Tap **Close Position** 4. Enter your PIN to confirm ![](https://storage.crisp.chat/users/helpdesk/website/-/7/1/9/9/71991a4db339f000/en003_sax82t.jpeg) --- ## Key Concepts Before trading perpetual futures, it is important to understand the following key terms: ### **Margin** Margin is the capital used to open a position. In Mixin Perpetual Futures: * The amount you enter is your total input amount * An opening fee is deducted first * The remaining amount becomes your actual margin ### **Leverage** Leverage allows you to amplify your trading position. For example: * With 10x leverage * 10 USDT can control a position of approximately 100 USDT ||| Higher leverage increases both potential profit and risk. ### **Size** Size represents the total value of assets controlled in a trade. Formula: **Size = Actual Margin × Leverage** Please note: * Your input amount is not fully used as margin * The opening fee is deducted first ||| Size remains fixed after opening a position, while PnL changes with market price movements. ### **Liquidation Price** Liquidation price is the price at which your position will be forcibly closed by the system. This happens when: * The market moves against your position * Your losses reduce your margin below the required level In Mixin Perpetual Futures: ||| Liquidation is triggered based on **Mark Price**, not Last Price. ### **Mark Price** Mark Price is a reference price used for risk control. It is typically calculated using: * Weighted prices from multiple exchanges * Or a combination of spot price and funding mechanisms Its purpose: * Prevent unfair liquidations caused by short-term volatility * Provide a more stable and fair pricing reference ### **Last Price** Last Price is the most recent traded price in the market. * Used for market display * Not used for liquidation **Important:** * Even if the Last Price does not reach the liquidation price * Liquidation may still occur if Mark Price does ||| Always monitor your position risk and manage leverage carefully. ### **Funding Rate** Funding rate is a periodic payment between long and short positions to keep contract prices close to the spot market. * Settled every 8 hours * Longs pay shorts or vice versa depending on market conditions ||| Understanding these concepts is essential before trading. --- ## FAQ ### **1. Is the amount I enter the same as the margin?** Not exactly. In Mixin Perpetual Futures, the amount you enter is your **total input amount**. A **trading fee is deducted first**, and the remaining amount becomes your actual margin. That means: * **Input Amount = Actual Margin + Opening Fee** * **Actual Margin = Input Amount − Opening Fee** As leverage increases, the proportion of fees relative to your input amount becomes more noticeable. ### **2. In what currency are profits settled?** All contracts are settled in: 👉 **ERC-20 USDT** Regardless of which chain’s USDT or USDC you used, settlement will always be in ERC-20 USDT. ### **3. What fees are charged in perpetual trading?** The main fees include: * **Opening fee**: 0.16% * **Closing fee**: 0.16% * **Funding fee**: charged every 8 hours (actual rate shown on the contract page) ||| Fees are deducted from your input amount when opening a position. ### **4. How is the opening fee calculated?** The opening fee is calculated using the following formula: **Opening Fee = Total Amount × Fee Rate × Leverage** Where: * **Total Amount** = the amount you enter * **Fee Rate** = 0.16% (0.0016) * **Leverage** = selected leverage multiplier After calculating the fee: * **Actual Margin = Total Amount − Opening Fee** * **Position Size = Actual Margin × Leverage** **Example 1: 2x Long with 1000 USDT** Given: * Total Amount = 1000 USDT * Leverage = 2x * Fee Rate = 0.0016 Opening Fee = 1000 × 0.0016 × 2 = **3.2 USDT** Result: * Actual Margin = 1000 - 3.2 = 996.8 USDT * Position Size = 996.8 × 2 = 1993.6 USDT This shows that at low leverage, the fee impact is relatively small. **Example 2: 10x Short with 1000 USDT** Given: * Total Amount = 1000 USDT * Leverage = 10x * Fee Rate = 0.0016 Opening Fee = 1000 × 0.0016 × 10 = **16 USDT** Result: * Actual Margin = 1000 - 16 = 984 USDT * Position Size = 984 × 10 = 9,840 USDT Comparison: * Higher leverage leads to a higher proportion of fees relative to the input amount. * Less margin is effectively used in the position ||| This means: ||| **Higher leverage results in a larger fee impact and lower effective margin.** ### **5. Why do fees seem higher at high leverage?** Because fees are deducted from your input amount before opening the position. At higher leverage, more capital is used to control a larger position, so the fee takes up a larger proportion of your total input. As a result, less margin is actually used in the position. ### **6. Will liquidation affect my wallet balance?** **No.** Liquidation only affects the margin in the current position and does not impact other assets in your wallet. ### **7. Why was my order refunded after opening?** Possible reasons include: * Rapid market price fluctuations * Insufficient market liquidity * Unable to execute within an acceptable price range The system will automatically cancel the order and refund your funds. ### **8. Can I add more margin to a position?** Currently, **adding margin is not supported**. ### **9. Is using high leverage safe?** High leverage will: * Amplify profits * Also significantly amplify losses New users are recommended to start with **low leverage (e.g., 2x–5x)**. ### **10. Is perpetual trading guaranteed to be profitable?** **No.** Perpetual futures are high-risk financial products: * Market volatility may lead to losses or liquidation * Higher leverage means higher risk ||| Please trade responsibly based on your own risk tolerance.