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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

Open Mixin
Go to the Wallet tab
Tap Trade
Switch to the Perpetual Futures tab

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

Enter your margin (initial investment)
Select your leverage

The system will automatically calculate your Position Size.

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

Go to your Positions
Enter the contract details page
Tap Close Position
Enter your PIN to confirm

FAQ

1. What is Position Size?

Position size represents the total value of assets you control in a trade.

It is calculated as:

Position Size = Actual Margin × Leverage

Please note:

The amount you enter is not fully used as margin
A trading fee is deducted first, and the remaining amount becomes your actual margin

Position size remains fixed after opening a position, but your profit and loss will change with market price movements.

2. Is the amount I enter the same as 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.

3. 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.

4. 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.

5. How is the opening fee calculated?

The opening fee is calculated using the following formula:

Opening Fee = Total Amount × Fee Rate ÷ (1 / Leverage + Fee Rate)

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 ÷（1 / 2 + 0.0016）

≈ 3.19 USDT

Result:

Actual Margin ≈ 1000 - 3.19 = 996.81 USDT
Position Size ≈ 996.81 × 2 = 1993.62 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 ÷（1 / 10 + 0.0016）

≈ 15.75 USDT

Result:

Actual Margin ≈ 1000 - 15.75 = 984.25 USDT
Position Size ≈ 984.25 × 10 = 9,842.52 USDT

Comparison:

Higher leverage leads to a higher proportion of fees
Less margin is effectively used in the position

This means: Higher leverage results in a larger fee impact and lower effective margin.

6. 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.

7. What is the funding fee?

The funding fee is a periodic payment exchanged between long and short traders to keep the contract price aligned with the spot price.

When longs dominate, longs pay shorts
When shorts dominate, shorts pay longs

8. 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.

9. 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.

10. Can I add more margin to a position?

Currently, adding margin is not supported.

11. 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).

12. 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.

Updated on: 10/04/2026