页面历史记录

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6、Fee

Fee of MXC is as follow，

Note: the contract fee will be charged first and returned later. The settlement will be made at 20:00 UTC each day and the corresponding trading fee will be returned.

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也称为“跨期保证金”，是指将账户所有可用余额作为保证金来避免强制平仓。任何其他仓位已实现盈利都可以帮助在亏损仓位上增加保证金。请注意，默认状态下所有仓位最初设置为“全仓保证金”。

Cross Margin Mode

For Cross Margin Mode, the Position Margin required varies with the price movements. For avoiding liquidations, all available balances in an account will be used as margin. Any realized profits could help increase margin for a losing position. Note that all positions are initially set to "cross margin mode" by default.

逐仓保证金

用户的最大损失仅限于所使用的起始保证金。 在某仓位被强制平仓时，你的任何可用余额都不会用于增加此仓位的保证金。通过隔离某仓位使用的保证金，你可以限制在此仓位的损失至起始保证金额，从而在你的短期投机交易策略失效时帮助到你。 当使用逐仓保证金时，可以选择合适的杠杆。杠杆越高，越少的保证金会被用于此仓位。

Fixed Margin modeMode

In this mode，the Position Margin remains the same even the price fluctuates and the maximum loss is limited to the initial margin.  Your available balances will not be used to increase the margin for the position that need to be liquidated. You can limit losses by isolating the margin used in a position when the short-term speculative trading strategy fails. You can choose the appropriate leverage for Fixed Margin Mode, The higher the leverage, the less margin will be used for the position.

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如果，BTC价格上涨至7500USDT，我们对比小A与小B的收益情况：

Case of Open long

If BTC rises to 7500USDT，the profits of A and B are as follow，

卖出/做空案例

如果，BTC价格下跌至6500USDT，我们对比小A与小B开仓收益情况：

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If BTC rises to 7500USDT，the profits of A and B are as follow，

通过以上案例对比，我们发现小A使用100倍杠杆，仅用了小B保证金的1%，就获得了相同的收益，以小博大。

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维持保证金：MMR=风险限额等级 *0.005=[(仓位价值+未成交委托价值-基础风险限额)/递增额+1] *0.005

各合约产品的风险限额如下:

The Risk Limits level of Current position:

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If this does not satisfy the maintenance margin requirement then the position will be liquidated by the liquidation engine at the bankruptcy price.

4、使用高风险限额的用户

强平引擎将会用以下方法尝试降低用户的风险限额，从而降低保证金要求：

  1）取消未成交委托，但保留现有仓位，而降低用户的风险限额。

  2）提交 FillOrKill（全数执行或立刻取消）委托，此委托的价值等于目前的仓位价值和符合目前保证金要求的风险限额值之差，从而避免进一步被强平。

  3）如果仓位仍然处于强平状态，那么全部仓位将被强平引擎以破产价格接管。

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4、Users on Higher Risk Limit tiers

The liquidation system attempts to bring a user down to a lower Risk Limit, and thus lower margin requirements by:

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If the position is still in liquidation then the entire position is taken over by the liquidation engine and a limit order to close the position is placed at the bankruptcy price.

六．自动减仓

当投资者被强制平仓时，他们的剩余仓位将被MXC的永续合约强平系统接管。 如果强平仓位未能够在市场平仓，并且当标记价格达到破产价格时，自动减仓系统将会对持有反方向仓位的投资者进行减仓。减仓的先后顺序将根据杠杆和盈利比率决定。

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5、Auto Deleveraging

When a trader’s position is liquidated, the position is taken over by the MXC liquidation engine. If the liquidation cannot be filled by the time the mark price reaches the bankruptcy price, the ADL（Auto-Deleveraging） system automatically deleverages opposing traders’ positions by profit and leverage priority.

减仓的过程如下：

根据交易员强平仓位的破产价格进行平仓，此时保险基金仍不足时，触发自动减仓策略。

对手方通过收益率和有效杠杆计算出有效杠杆的PnL排名。 交易策略激进且盈利最多的交易员将被ADL序列优先标记。

将ADL被执行方与有效杠杆盈亏排名靠前的交易员以破产价格进行自动减仓。

The process of Auto-deleveraging is as follow，Auto-Deleveraging Process: 

When the liquidation was conducted with the bankruptcy price, the ADL（Auto-Deleveraging）will automatically occur due to the lack of insurance fund.

The counterparty calculates the PnL ranking of the effective leverage (based on the Profit ratio and Effective Leverage). Deleveraging priority is calculated by profit and leverage. More profitable and higher leveraged traders are deleveraged first.注：在盘口中央的ADL指示灯会根据你持有该合约的所有仓位（取最高）的排序，对您的仓位进行ADL预警。

Note: You will notice the ADL “lights” that show your position in the queue.

自动减仓机制的排序

盈亏计算：

排序 = 盈利百分比 * 有效杠杆 (如果盈利)

       = 盈利百分比 / 有效杠杆 (如果亏损)

其中：

有效杠杆 = abs(标记价值) / (标记价值 - 破产价值)

盈利百分比 = (标记价值 - 平均开仓价值) / abs(平均开仓价值)

标记价值 = 位于标记价格时的仓位价值

破产价值 = 位于破产价格时的仓位价值

平均开仓价值 = 位于平均开仓价格时的仓位价值

当投资者被强制平仓时，他们的剩余仓位将被MXC永续合约的强平系统接管。 如果强平仓位未能够在市场平仓，并且当标记价格达到破产价格时，自动减仓系统将会对持有反方向仓位的投资者进行减仓。减仓的先后顺序将根据杠杆和盈利比率决定。

减仓的过程如下：

根据交易员强平仓位的破产价格进行平仓，此时保险基金仍不足时，触发自动减仓策略。

对手方通过收益率和有效杠杆计算出有效杠杆的PnL排名。 交易策略激进且盈利最多的交易员将被ADL序列优先标记。

将ADL被执行方与有效杠杆盈亏排名靠前的交易员以破产价格进行自动减仓。

注意：由于合约交易中价格波动产生的影响较大，请在您可承受的范围内选择适当的杠杆、仓位进行交易。

Priority Ranking Calculation

The Calculation of profits/losses

Ranking = PNL Percentage * Effective Leverage  (if PNL percentage > 0)

        = PNL Percentage / Effective Leverage  (if PNL percentage < 0)

where

  Effective Leverage = abs(Mark Value) / (Mark Value - Bankrupt Value)

  PNL percentage = (Mark Value - Avg Entry Value) / abs(Avg Entry Value)

  Mark Value = Position Value at Mark Price

  Bankrupt Value = Position Value at Bankruptcy Price

  Avg Entry Value = Position Value at Average Entry Price

When a trader’s position is liquidated, the position is taken over by the MXC liquidation engine. If the liquidation cannot be filled by the time the mark price reaches the bankruptcy price, the ADL（Auto-Deleveraging） system automatically deleverages opposing traders’ positions by profit and leverage priority.

The process of Auto-deleveraging is as follow，

When the liquidation was conducted with the bankruptcy price, the ADL（Auto-Deleveraging）will automatically occur due to the lack of insurance fund.

The counterparty calculates the PnL ranking of the effective leverage (based on the Profit ratio and Effective Leverage). Deleveraging priority is calculated by profit and leverage. More profitable and higher leveraged traders are deleveraged first.

Pay attention to the market risk of Contract trading, choose the appropriate leverage and position to trade within your acceptable range.

6、Priority Ranking Calculation

The Calculation of profits/losses

Ranking = PNL Percentage * Effective Leverage  (if PNL percentage > 0)

        = PNL Percentage / Effective Leverage  (if PNL percentage < 0)

where

  Effective Leverage = abs(Mark Value) / (Mark Value - Bankrupt Value)

  PNL percentage = (Mark Value - Avg Entry Value) / abs(Avg Entry Value)

  Mark Value = Position Value at Mark Price

  Bankrupt Value = Position Value at Bankruptcy Price

  Avg Entry Value = Position Value at Average Entry PriceNote: Please pay attention to the market risk of Contract trading，choose the appropriate leverage and position to trade within your acceptable range.