USDⓈ-M Perpetual Futures Guide (App)

1. Activate Futures Trade

a. Open the FameEX App and log in to your account, tap the ‘Futures’ icon in the bottom navigation bar to enter the futures page.

b. If you have no futures account, tap ‘Activate’.

c. After reading and understanding the FameEX Futures Service Agreement, check the box labeled ‘I have read and agree to the FameEX Futures Service Agreement’ to accept the terms.

d. Click ‘Activate’ to start your futures trading.

2. Overview of Futures Trading

The FameEX platform only supports USDⓈ-Margined perpetual futures. It uses a single-currency margin mode, which means only USDT can be used as collateral. Under this mode, you can choose between Cross Margin and Isolated Margin when opening a position.

3. Choose Your Position Mode and Adjust Leverage

FameEX currently supports two types of position modes: Isolated Margin and Cross Margin. To select your preferred mode, go to the Margin Mode section and click on either Cross or Isolated. You can also adjust your desired leverage level to match your trading strategy.

4. Asset Transfer

To use USDT as your contract margin, click the "Transfer" button in the futures trading page. Then, choose the transfer direction, coin (USDT), and the amount you want to transfer. Once everything looks correct, click ‘Transfer’ to complete the process.

5. Choose Your Position Mode

FameEX currently supports two position modes: Hedge Mode and One-way Mode.

To select your preferred mode, tap the three dots (···) in the top-right corner in the futures trading section. Select ‘Preference’, then choose ‘Position Mode’. You can now choose either Hedge Mode or One-way Mode, depending on your trading strategy.

If you choose Hedge Mode, please continue reading from ‘6. Place Open Orders (Hedge Mode)’. If you select the One-way Mode, please scroll down to ‘9. Buy/Long and Sell/Short (One-way Mode)’ to continue.

6. Place Open Orders (Hedge Mode)

Hedge mode means that you can simultaneously hold long and short positions of the same symbol, where profits and losses do not offset each other. In this mode, you can hedge position risks in different directions within the same symbol. When you anticipate a bullish market, select ‘Open Long’, and when you expect a bearish market, choose ‘Open Short’. You can place open orders at Limit, Market, Trigger, or Post Only (USDT perpetual is used as an example below).

6.1 Limit (Open Long): Tap ‘Open’ on the trading page, select Limit Order, and enter Price and Amount. In addition, you can select TP/SL and TIF type. Once you have confirmed the details, tap ‘Open Long’. After placing an order, the limit order will only be executed when the opposing orders in the market match the specified price range.

6.2 Market (Open Long): Tap ‘Open’ on the trading page, select Market Order, and enter the Amount. In addition, you can select TP/SL. Once you have confirmed the details, tap ‘Open Long’. After placing an order, the market order will be executed at the best price in the current market.

6.3 Conditional (Open Long): Tap ‘Open’ on the trading page, select Conditional, and enter Trigger Price, Order Price in Limit or Market, and Amount. In addition, you can select the TIF type. Once you have confirmed the details, tap ‘Open Long’. After placing an order, the trigger order will be placed if the market price reaches the trigger condition.

6.4 Post Only (Open Long): Tap ‘Open’ on the trading page, select Post Only, and enter Price and Amount. In addition, you can select TP/SL. Once you have confirmed the details, tap ‘Open Long’. After placing an order, the post-only order will be added to the order book and not executed in the market immediately. By placing a post-only order, if the order matches with an existing order, it will be canceled, ensuring that you will always act as a Maker.

Note: When you open a position with a Take Profit (TP) or Stop Loss (SL) order, the system will automatically place the TP/SL order once the initial order is fully executed. You can choose to set either a TP or SL order individually, or set both simultaneously.

7. Check Your Positions

After placing open orders, you can easily keep track of your filled orders by navigating to the Positions section. Any unfilled orders can be viewed in the Open Orders section (please note that you can cancel orders before they are matched).

Positions:

Open Orders:

8. Place Close Orders (Hedge Mode)

When placing a close order under the hedge mode, you have multiple order types to choose from, including Limit, Market, Conditional, or Post Only. Moreover, you can tap ‘Close’ and ‘Close All’ under the Positions section to close your positions.

8.1 Limit (Close Long): Tap ‘Close’ on the trading page, select Limit, and enter Price and Amount. Then, tap ‘Close Long’. 

8.2 Market (Close Long): Tap ‘Close’ on the trading page, select Market, and enter Amount. Then, tap ‘Close Long’.

8.3 Conditional (Close Long): Tap ‘Close’ on the trading page, select Conditional, and enter Trigger Price, Order Price in Limit or Market, and Amount. Upon confirmation, tap ‘Close Long’. 

8.4 Post Only (Close Long): Tap ‘Close’ on the trading page, select Post Only, and enter Price and Amount. Upon confirmation, tap ‘Close Long’. 

8.5 Close (Close Long): On the Positions section, tap ‘Close’ at the Limit or Market price and enter the Amount to close your positions. If you choose to close positions at the limit price, please ensure that the order price meets your expectations.

8.6 TP/SL Close (Close Long): On the Positions section, tap ‘TP/SL’ to configure take-profit and stop-loss conditions for the current position by selecting Hedge TP/SL or One-way TP/SL.

8.7 Close All: After clicking on ‘Close All’, the system will close all of your positions at the best market price. Besides, all closed orders will be automatically canceled.

9. Buy/Long and Sell/Short (One-way Mode)

One-way mode means that you can only hold long or short positions of the same symbol, where profits and losses offset each other. In this mode, you have the option to use a “Reduce-Only” order type, which allows you to only decrease your existing position holdings and prevents the opening of positions in the opposite direction. When you anticipate a bullish market, select ‘Buy/Long’, and when you expect a bearish market, choose ‘Sell/Short’. You have various order types to choose from, including Limit, Market, Conditional, or Post Only orders.

9.1 Limit Order: On the trading page, select Limit, and enter Price and Amount. In addition, you can select TP/SL and TIF type. Upon confirmation, tap ‘Buy/Long’ or ‘Sell/Short’. After placing an order, the limit order will only be executed when the opposing orders in the market match the specified price range.

9.2 Market Order: On the trading page, select Market and enter the Amount. In addition, you can select TP/SL and TIF type. Upon confirmation, tap ‘Buy/Long’ or ‘Sell/Short’. After placing an order, the market order will be executed at the best price in the current market.

9.3 Conditional Order: On the trading page, select Conditional, and enter Trigger Price, Order Price, and Amount. In addition, you can select the TIF type. Once you have confirmed the details, tap ‘Buy/Long’ or ‘Sell/Short’. After placing an order, the trigger order will be placed if the market price reaches the trigger condition.

9.4 Post Only Order: On the trading page, select Post Only, and enter Price and Amount. In addition, you can select TP/SL and TIP type. Once you have confirmed the details, tap ‘Buy/Long’ or ‘Sell/Short’. After placing an order, the post-only order will be added to the order book and not executed in the market immediately. By placing a post-only order, if the order matches with an existing order, it will be canceled, ensuring that you will always act as a Maker.

10. Check Your Positions

After placing open orders, you can easily keep track of your filled orders by navigating to the Positions section. Any unfilled orders can be viewed in the Open Orders section (please note that you can cancel orders before they are matched).

Positions:

Open Orders:

11. Reverse Orders (One-way Mode)

11.1 Place a Reverse Order

Under the one-way mode, you can only hold a position in one direction. For example, if you hold long positions and decide to sell those positions to enter positions in the opposite direction, the system will close existing positions and open new positions for the remaining portion in the opposite direction.

11.2 Reduce-Only for the One-way Mode

“Reduce-Only” is a trading option in which you can only reduce your existing positions and cannot increase your positions. If you have no positions, a reduce-only order cannot be placed. In the scenario where you already hold positions and decide to place an order in the opposite direction, if the order amount exceeds the position size, only the existing positions will be closed without initiating any further positions in the opposite direction.

12. Check Your Assets

Tap ‘Assets’ on the right of the bottom navigation bar and click ‘Futures’. You can view detailed futures information, including existing positions, account balance, unrealized PnL, futures trial funds, etc.