Two-Side Positions for Perpetual Contract Released
To provide a diversified array of services to users, Gate.io has released a new feature; two-side positions mode, allowing users to maintain both a long and short position at the same time. The feature has now been enabled on the USDT perpetual demo account, which will go live on the “real” trading accounts next week.
Explore the new feature at your demo account, risk-free via https://www.gate.io/en/testnet/futures_trade/USDT/BTC_USDT
Or update to the latest V2.6.8.beta for Android to try out the new feature
About the two-side position mode
The two-side positions, as the name suggests, allows users to have both long and short positions for the same perpetual contract. Unlike a one-side position mode, where you can go long or short and the opposite orders will reduce your existing position automatically, users have four selections in a two-side positions mode: open long position, open short position, close long position, and close short position.
How to open two sides positions under the same perpetual contract?
1.Toggle Position Mode
The perpetual contract supports the one-side position mode by default. You may toggle the mode to “Two-Side Position’ by clicking the setup icon on the upper left corner and selecting the two-side positions mode.
The new mode will apply to all perpetual contracts with the same margin currency. Please note, you can only toggle the position mode when there are no open positions or orders under all perpetual contracts of the same margin currency.
2. Choose Margin Type
2.1 Isolated Margin
Under the isolated margin type, the margin is isolated for the two positions; risks of one position do not affect the other. You will be able to observe separate margin, liquidation prices for each position. But the leverage ratio and risk limit under the perpetual contract will apply to both positions.
2.2 Cross Margin
When using cross margin, the two positions will share the same margin. As the two positions hedge each other, in the event of a liquidation, only the extra portion that can’t be offset by the opposition position would be liquidated; if both positions are of the same size, there would be no liquidation risk at all. Both two positions’ unrealised profit and loss will offset, though displaying as“unrealized”PNL for each position. It is recorded as realized PNL in history records.
3. Toggle Between Isolated and Cross Margin
You can toggle between isolated and cross margin only when there are no open positions or orders under the perpetual contract.
4. Place Order
In a two-side position mode, a position can only be a long position or a short position. Therefore, there is no more “reduce position” selection. Instead, you have Open Long Position, Open Short Position, Close Long Position, Close Short Position selections.
Please note, when displaying the historical orders, they still display the old way.
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November 25, 2020
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