A Quick Guide to Understanding Stock Perps

What are stock perps?

Stock perps are Bitget's innovative index perpetual futures for equity assets. The underlying index is constructed from circulating stock tokens (RWA) available on the market. Maaaring kasama rito ang mga stock token mula sa maraming independent issuer (kabilang ang xStock, ONDO, at iba pa), na ang mga timbang ay dynamic na kinakalkula at inilalathala batay sa totoong trading volume at liquidity.

Halimbawa, ang presyo ng NVDA stock perpetual futures index ng Bitget ay kumakatawan sa weighted composite average ng mga NVDA RWA token sa lahat ng sinusuportahang issuer.

Key differences: Stock perps vs. regular futures

Risk management for stock perps

Liquidation mechanism

May mga karaniwang tuntunin sa liquidation na nalalapat: ang panganib ay sinusuri batay sa presyo ng liquidation o ratio ng margin ng posisyon. Positions will not be liquidated during market closure periods. Kapag muling nagbukas ang mga merkado, ang mga kaganapan ng gap up/down ay maaaring humantong sa collateral shortfall. It's recommended to monitor index prices and margin call before the market opens.

Insurance fund

All stock perps have ADL (Auto-Deleveraging) enabled by default. Each perp is initially seeded with 50,000 USDT allocated to the insurance fund. ADL will activate automatically if the insurance fund equity reaches zero.

Stock index calculation logic

Ang index ay kumakatawan sa isang weighted composite price ng basket ng mga tokenized asset para sa ibinigay na equity. It does not directly track the underlying traditional stock but serves as an aggregate price reference for the traded RWA market. Ang mga bumubuo sa asset ay pangunahing binubuo ng mga crypto token na naka-quote sa USDT mula sa mga issuer tulad ng xStock, ONDO, at iba pa.

Index rebalancing

• Regular rebalancing: Executed daily at 16:01:00 (UTC+8) to reflect current market conditions.

• Special adjustments: Constituents will be removed or replaced in the event of delisting, insufficient liquidity, or extreme volatility events, with corresponding adjustments to weights and the divisor.

• Hard forks, airdrops, and mapping adjustments: Soft forks are not adjusted. Ang mga bagong gawang token ay isinasama batay sa kanilang bigat, at ang mga token na hindi nakakatugon sa pamantayan ay aalisin sa susunod na rebalancing. For splits or mergers, the weight is adjusted proportionally.

Critical things to know before trading

1. Trading halt mechanism: Markets are closed on weekends and during announced special periods, aligned with traditional equity market schedules to reduce overnight gap risk.

2. During closure: Mark price is frozen, and no liquidations will occur. Existing orders may be canceled, but new orders cannot be placed. No funding rate settlement occurs. If a gap opening is expected, add margin in advance.

3. Pricing fairness: The index is calculated based on multi-source RWA liquidity to ensure fairness.

4. Overall risk: Margin trading amplifies both gains and losses, requiring strict risk management.

How to trade stock perps on Bitget

1. Sign up and verification

• Visit the Bitget website or download the app.

• Sign up using your email address, phone number, Google, or Apple ID. Set a strong password and enable 2FA.

• Complete identity verification: Complete at least the basic verification (upload your ID). This step is usually required for futures trading.

2. Deposit and transfer USDT to your futures account

• Bumili ng USDT sa pamamagitan ng P2P, mga fiat channel, o credit card sa loob ng app (sumusuporta sa iba't ibang fiat currency).

• Alternatively, transfer USDT from an external wallet (TRC20 network is recommended for low fees).

• Go to the Assets page, select Transfer, and transfer USDT from your spot account to your futures account (USDT-M Futures). Transfers are free and instant.

• All stock perps are USDT-M.

3. Go to the stock perps trading page

• Click TradFi in the bottom navigation bar and select the Stock Perps category.

• Search available stock tickers: TSLAUSDT, NVDAUSDT, AAPLUSDT.

• Supported assets include over 30 popular U.S. stocks and indices (such as QQQ), subject to the platform's real-time list.

4. Set trading parameters and place an order

• Leverage: Click the leverage icon to adjust the multiplier (new users should start with low leverage).

• Margin mode: Supports isolated and cross margin, with some support for unified trading account mode.

• Order type:

  • • Market order: Immediate execution.

    • Limit order: Execute at a specified price.

• Direction and quantity: Select Open Long (buy, bullish) or Open Short (sell, bearish) and enter the quantity (the system will display the corresponding position value).

• Setting TP/SL is strongly recommended: You can select and set TP/SL on the order page, entering prices or using trailing SL.

• After reviewing the parameters, click Open Long or Open Short to confirm.

5. Manage positions

• Tingnan ang real-time na PnL at margin ratio sa pahina ng posisyon.

• Maaari mong isara, dagdagan, bawasan, o isaayos ang leverage anumang oras.

• Monitor funding rates (paid between long and short positions; long-term holdings should consider the cost).

• Sa panahon ng pagsasara ng merkado, tanging ang mga naka-pending order lamang ang maaaring kanselahin, at walang mga bagong posisyon ang maaaring buksan. Mark prices will not be updated.

Risk warning:

Crypto prices are highly volatile, which may lead to significant losses. Inirerekomenda na mamuhunan lamang sa mga pondong kaya mong mawala. Past performance is not indicative of future results. This content does not constitute financial advice. Refer to the Bitget User Terms. Investors should seek independent professional advice and assess their individual financial situation.