How to trade perpetual contracts on BitMart

To engage in perpetual contract trading on BitMart, users must first create an account, deposit funds, select a trading pair, set order parameters, double-check their order details, monitor their position, and finalize the trade by closing it when appropriate.

Nov 26, 2024 at 06:25 am

How to Trade Perpetual Contracts on BitMart

Perpetual contracts are crypto-based contracts in which two parties agree to exchange a set amount of cryptocurrencies at a specified price on a specific date. Unlike futures contracts, perpetual contracts have no expiry date and are perpetual. They are traded margin with leverage. This guide will provide step-by-step instructions on how to trade perpetual contracts on BitMart.

Step 1: Create an Account on BitMart

Visit the BitMart website and click "Sign Up." Enter your email address, create a password, and agree to the Terms of Service. Verify your email address to complete the registration process.

Step 2: Fund Your Account

After creating an account, you need to deposit funds into it to commence trading. BitMart supports various deposit methods, including cryptocurrencies and fiat currencies. Choose your preferred method and follow the on-screen instructions to fund your account.

Step 3: Choose a Perpetual Contract Trading Pair

Visit the "Futures" section on BitMart and select the perpetual contract trading pair you want to trade. For instance, if you want to trade Bitcoin perpetual contracts, click on "BTCUSDT (Perpetual)."

Step 4: Set Order Parameters

The next step is to choose the order parameters.

Order Type: Select the order type - "Market Order" or "Limit Order."
Trade Direction: Determine whether to "Buy" or "Sell" the contract.
Quantity: Specify the quantity of the contract you wish to trade.
Leverage: Set leverage for your trade. Higher leverage increases your potential profit and risk.
Trigger Price (Limit Orders Only): For limit orders, set the specific price at which you want your order to be executed.

Step 5: Read and Confirm

Carefully read the details of your order to ensure everything is correct. Tick the "I have read and agree to the BitMart Futures Agreement" box and click "Buy" or "Sell" to initiate the trade.

Step 6: Monitor and Manage Your Position

After opening a position, you can monitor its performance by observing the unrealized profit or loss (PnL) in real-time. You can also adjust your position by adding or reducing your leverage. If your position faces liquidation, BitMart will send you notifications to top up your margin.

Step 7: Close Your Position

When you're ready to close your position, click on the "Positions" tab in the "Futures" section. Find the position you want to close and click on the "Close" button. Choose whether to close the position partially or fully and click "Confirm" to execute the action.

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