ການຊຳລະບັນຊີ ແລະ ການຊຳລະບັນຊີບາງສ່ວນ/Liquidation and Partial Liquidation

ການຊຳລະບັນຊີແມ່ນຫຍັງ ແລະ ເກີດຂື້ນໄດ້ແນວໃດ?

ການຊຳລະບັນຊີເປັນກົນໄກທີ່ອອກແບບມາເພື່ອປົກປ້ອງນັກເທຣດຈາກການຂາດທຶນທີ່ເກີນກວ່າຍອດຄົງເຫຼືອໃນບັນຊີ Margin ແລະ ອາດຈະນຳໄປສູ່ການຊຳລະບັນຊີ (ຍອດຄົງເຫຼືອໃນບັນຊີ Margin ຕິດລົບ) ເພື່ອປ້ອງກັນສິ່ງນີ້ ລະບົບຈຶ່ງກຳນົດຂໍ້ກຳນົດ Margin ຂັ້ນຕ່ຳສຳລັບສັນຍາແຕ່ລະປະເພດ ເຊິ່ງເອີ້ນວ່າ Maintenance margin ເມື່ອຍອດຄົງເຫຼືອໃນບັນຊີ Margin ຂອງນັກເທຣດຮອດ ຫຼື ຕ່ຳກວ່າຂໍ້ກຳນົດ Maintenance margin ລະບົບຈະເລີ່ມຂະບວນການຊຳລະບັນຊີ ເມື່ອມີການຊຳລະສະຖານະໃດສະຖານະໜຶ່ງ ສະຖານະນັ້ນຈະຖືກຍົກເລີກ ແລະ ເງິນທັງໝົດຈາກ Margin ຂອງທ່ານຈະຖືກໃຊ້ເພື່ອການຊົດເຊີຍການຂາດທຶນ ດັງນັ້ນຈື່ງເຮັດໃຫ້ຍອດຄົງເຫຼືອໃນບັນຊີ Margin ຂອງທ່ານຂອງທ່ານເປັນ 0.

ການຊຳລະບັນຊີບາງສ່ວນແມ່ນຫຍັງ?

ການຊຳລະບັນຊີນາງສ່ວນໝາຍເຖິງຂະບວນການບາງສ່ວນຂອງນັກເທຣດເພື່ອໃຫ້ເປັນໄປຕາມຂໍ້ກຳນົດ Maintenance margin ແທນທີ່ຈະຊຳລະສະຖານະທັງໝົດ ເຊິ່ງຈະຊ່ວຍຫຼຸດການສູນເສຍທີ່ອາດຈະເກີດຂື້ນ ແລະ ປ້ອງກັນບໍ່ໃຫ້ຍອດຄົງເຫຼືອຂອງ Margin ຂອງນັກເທຣດຫຼຸດລົງເຫຼືອ 0 ໃນຂະນະທີຍັງຄົງຮັກສາສະຖານະເດີມບາງສ່ວນໃນຕະຫຼາດໄວ້.

ການຊື້/ຂາຍໃນຕະຫຼາດແບບບັງຄັບແມ່ນຫຍັງ ແລະ ເກີດຂື້ນໄດ້ແນວໃດ?

ການຊື້/ຂາຍໃນຕະຫຼາດແບບບັງຄັບ ໝາຍເຖິງ ສະຖານະການທີ່ລະບົບການຊື້/ຂາຍໃນຕະຫຼາດໂດຍອັດຕະໂນມັດໃນນາມຜູ້ຊື້/ຂາຍ ເພື່ອປ່ຽນແປງກຳໄລທີ່ຍັງບໍ່ເກີດຂື້ນແທ້ໃຫ້ເປັນກຳໄລທີ່ຮັບຮູ້ໄດ້ ເຊິ່ງທົ່ວໄປຈະເກີດຂື້ນໃນສະຖານະການທີ່ສະຖານະນັກເທຣດທີ່ມີຄວາມສ່ຽງທີ່ຈະຖືກຊຳລະບັນຊີເນື່ອງຈາກ Margin ບໍ່ພຽງພໍ ຫຼື ເມື່ອບໍ່ເປັນໄປຕາມຂໍ້ກຳນົດ Maintenance margin ຈຸດປະສົງຂອງການຊື້/ຂາຍໃນຕະຫຼາດແບບບັງຄັບຄື ເພື່ອບັນເທົາການສູນເສຍທີ່ອາດຈະເກີດຂື້ນ ແລະ ປົກປ້ອງຍອດຄົງເຫຼືອຂອງ Margin ຂອງນັກເທຣດ.

ຈະເກີດຫຍັງຂື້ນເມື່ອເກີດການຊຳລະບັນຊີ ຫຼື ການຊຳລະບັນຊີບາງສ່ວນ?

ເມື່ອເຮັດການຊຳລະບັນຊີແລ້ວ ລະບົບຈະເຂົ້າຄວບຄຸມສະຖານະຂອງທ່ານ ແລະ ຍອດຄົງເຫຼືອຂອງ Margin ທີ່ເຫຼືອ ໂດຍຕັ້ງເປົ້າທີ່ຈະສະຖານະ ໃນລາຄາຊຳລະບັນຊີ.

ຫາກບໍ່ສາມາດປິດສະຖານະໄດ້ໃນລາຄາຊຳລະບັນຊີ ລະບົບຈະຂໍ Margin ເພີ່ມຕື່ມຈາກກອງທືນປະກັນຂອງ bitqik ເພື່ອປັບລາຄາຂື້ນ ຫຼື ລົງອີກ ເຊິງຈະເພີ່ມໂອກາດໃນການປິດສະຖານະສຳເລັດ.

ຫາກສະຖານະຍັງຄົງເປີດຢູ່ຫຼັງຈາກປັບປ່ຽນເຫຼົ່ານີ້ ລະບົບຈະເລີ່ມຂະບວນການລົດໜີ້ອັດຕະໂນມັດ (ADL) ເຊິ່ງກ່ຽວຂ້ອງກັບການຈັບຄູ່ສະຖານະກົງກັນຂ້າມຢ່າງເປັນລະບົບເພື່ອປິດສະຖານະນັ້ນ ຂະໜາດສະຖານະຂອງທັງສອງຝ່າຍຈະຫຼຸດລົງຢ່າງຕໍ່ເນື່ອງຈົນກວ່າສະຖານະທີ່ຊຳລະບັນຊີຈະຖືກປີດລົງທັງໝົດ ລຳດັບຄວາມສຳຄັນຂອງການຫຼຸດໜີ້ອັດຕະໂນມັດໂດຍກົນໄກການຊຳລະບັນຊີນັ້ນກຳນົດໂດຍລະດັບກຳໄລ ແລະ Leverage ຂອງສະຖານະຄູ່ສັນຍາ.

*ໃນໂໝດປ້ອງກັນຄວາມສ່ຽງ ທັງສະຖານະຍາວ ແລະ ສັ້ນຂອງທ່ານໃນຕະຫຼາດທີ່ກຳນົດຈະຖືກຊຳລະບັນຊີເມື່ອເກີດການຊຳລະບັນຊີ ຂະບວນການຊຳລະບັນຊີບາງສ່ວນຈະພະຍາຍາມປິດຂະໜາດສະຖານະທີ່ປ້ອງກັນຄວາມສ່ຽງທັງໝົດຂອງທ່ານໃນຕະຫຼາດທີ່ກຳໜົດກ່ອນ ຫາກຍອດຄົງເຫຼືອຂອງ Margin ຍັງບໍ່ພຽງພໍຫຼັງຈາກປິດຂະໜາດສະຖານະທີ່ປ້ອງກັນຄວາມສ່ຽງທັງໝົດແລ້ວ ຂະໜາດສະຖານະທີ່ບໍ່ໄດ້ປ້ອງກັນຄວາມສ່ຽງທັງໝົດກໍຈະຖືກຊຳລະບັນຊີດ້ວຍເຊັ່ນກັນ.

ລະບົບຈະກຳນົດໄດ້ແນວໃດວ່າຈະເລີ່ມຂະບວນການຊຳລະບັນຊີ ຊຳລະບັນຊີບາງສ່ວນ ຫຼື ບັງຄັບຊື້/ຂາຍໃນຕະຫຼາດເມື່ອໃດ?

ເມື່ອເຂົ້າສູ່ສະຖານະ ລະບົບຈະຄຳນວນລາຄາຊຳລະບັນຊີເພື່ອໃຊ້ເປັນຂໍ້ມູນອ້າງອິງ ຫາກເຄື່ອງໝາຍລາຄາຂ້າມລາຄາຊຳລະບັນຊີ ສະແດງວ່າທ່ານບໍ່ມີເງິນ Margin ຄົງເຫຼືອພຽງພໍທີ່ຈະຕອບສະໜອງຂໍ້ກຳນົດ Maintenance margin ໄດ້ ນະຈຸດນີ້ ລະບົບຈະເອີ້ນໃຊ້ຂະບວນການຊຳລະບັນຊີ ຊຳລະບັນຊີບາງສ່ວນ ຫຼື ບັງຄັບຊື້/ຂາຍໃນຕະຫຼາດໂດຍອັດຕະໂນມັດ ຂື້ນຢູ່ກັບສະຖານະການ.

ລາຄາຄະຫຼາດ (Mark price): ເຮັດໜ້າທີ່ເປັນລາຄາຍຸດຕິທຳ ເຊິ່ງໄດ້ມາຈາກແຫ່ງລາຄາຫຼາຍແຫ່ງ ເພື່ອປ້ອງກັນການຈັດການຕະຫຼາດ ແລະ ຊຳລະບັນຊີທີ່ອາດຈະເກີດຂື້ນກັບຜູ້ໃຊ້ຈຳນວນຫຼາຍ bitqik ຈື່ງໃຊ້ລາຄາຕະຫຼາດເປັນພື້ນຖານໃນການເລີ່ມຂະບວນການຊຳລະບັນຊີ ຊຳລະບັນຊີບາງສ່ວນ ຫຼື ບັງຄັບຊື້/ຂາຍໃນຕະຫຼາດ.

ທ່ານຈະປ້ອງກັນການຊຳລະບັນຊີ ແລະ ຫຼີກລ້ຽງການສູນເສຍຫຼາຍກວ່າທີ່ຄາດໄວ້ແນວໃດ?

Strategies ເພື່ອຫຼຸດຄວາມສ່ຽງຂອງການຊຳລະບັນຊີ ຫຼື ການສູນເສຍຫຼາຍກວ່າທີ່ທ່ານຄາດໄວ້ ໃຫ້ພິຈາລະນາໃຊ້ຍຸດທະສາດຕໍ່ໄປນີ້:

1. ກວດສອບຂໍ້ກຳນົດ Maintenance margin ແລະ ເລືອກ Leverage ທີ່ເໝາະສົມ

ຕົວຢ່າງເຊັ່ນ ສັນຍາຊື້ຂາຍລ່ວງໜ້າ BTC ຖາວອນຈຳເປັນຕ້ອງມີ Maintenance margin 0.5% ຂອງມູນຄ່າສົມມຸດ (ການຕັ້ງຄ່າຂໍ້ຈຳກັດຄວາມສ່ຽງຕ່ຳສຸດ) ໃນຂະນະທີ່ສັນຍາເທຣດ LTC Futures 1.5% (ການຕັ້ງຄ່າຂໍ້ຈຳກັດຄວາມສ່ຽງຕ່ຳສຸດ) ຕ້ອງຊາບວ່າສັນຍາເທຣດ Futures ແລະ ແຕ່ລະສັນຍາອາດຈະມີຂໍ້ກຳນົດ Maintenance margin ທີ່ແຕກຕ່າງກັນ. 

ການເລືອກ Leverag ທີ່ເໝາະສົມຍັງມີປະໂຫຍດໃນການຫຼີກລ້ຽງການຊຳລະບັນຊີ ເນື່ອງຈາກ Leverag ຈະມີຜນກະທົບຕໍ່ຄວາມເປັນໄປໄດ້ທີ່ທ່ານຈະຖືກຊຳລະບັນຊີ ຍິ່ງ Leverag ສູງເທົ່າໃດ ຈຳນວນເງິນທຶນທີ່ໃຊ້ເປັນ Margin ກໍຈະຍິ່ງຫຼຸດລົງເທົ່ານັ້ນ.

2. ຕິດຕາມລາຄາເທຮດ Futures ແລະ ຕື່ມຍອດຄົງເຫຼືອ Margin ຕາມຕ້ອງການ

ເມື່ອລາຄາ Futures ເຂົ້າໃກ້ລາຄາເທຣດ Futures ໃຫ້ເພີ່ມເງິນໃນຍອດຄົງເຫຼືອ Margin ເພື່ອປ້ອງກັນບໍ່ໃຫ້ລາຄາເທຣດ Futures ໄປເຖິງລາຄາເທຣດ Futures ທ່ານສາມາດເຮັດໄດ້ໂດຍຝາກສິນຊັບເພີ່ມຕື່ມໃນກະເປົາ Futures ທີ່ຕ້ອງການ.

3. ກຳນົດ Stop Loss ແລະ ປິດສະຖານະຂອງທ່ານກ່ອນທີ່ຈະເກີດການຊຳລະບັນຊີ

Designate a ກຳນົດຄ່າ TP/SL (Take Profit / Stop Loss) ຫຼື ສ້າງ Order Stop-Loss ໄວ້ລ່ວງໜ້າ ຫາກແນວໂນ້ມລາຄາຕະຫຼາດຕ່າງໄປຈາກທີ່ທ່ານຄາດໄວ້ ລະບົບຈະຕັ້ງຄ່າ TP/SL ຫຼື Order Stop-Loss ຕາມລາຄາທີ່ທ່ານກຳນົດໄວ້ລ່ວງໜ້າ ຕ້ອງຊາບວ່າໃນຕະຫຼາດທີ່ມີຄວາມຜັນຜວນສູງ TP/SL ອາດຈະເຮັດວຽກໄດ້ຕາມທີ່ຄາດໄວ້.

4. ຈັດສັນເງິນທຶນຕາມລະດັບຄວາມສ່ຽງທີ່ທ່ານຍິນດີຈະຍອມຮັບ

ນອກເໜືອຈາກຍຸດທະສາດທີ່ກ່າວຂ້າງຕົ້ມແລ້ວ ໃຫ້ຈັດການຍອດຄົງເຫຼືອ Margin ຂອງທ່ານເພື່ອຫຼີກລ້ຽງການສູນເສຍທີ່ບໍ່ຄາດຄິດ ຕົວຢ່າງເຊັ່ນ:

ສົມມຸດວ່າທ່ານໄດ້ຮັບກຳໄລ 1,000 USDT ແຕ່ພໍໃຈທີ່ຈະສ່ຽງແຕ່ 500 USDT ກັບໄປຍັງກະເປົາ Spot ຂອງທ່ານເພື່ອປ້ອງກັນການສູນເສຍທີ່ບໍ່ຄາດຄິດເຊິງເກີດຈາກລະບົບຕື່ມ Margin ຂອງທ່ານໂດຍອັດຕະໂນມັດ.

ຄຳນວນ Margin ເລີ່ມຕົ້ນແນວໃດ?

Initial Margin = Notional Value x ( Initial Margin% + Taker Fee% * 2 )

Notional Value = Mark Price x Position Size x Contract Multiplier

For example, when you buy long contracts of BTC-PERP with the following conditions:

- Market Price: 40,000 USDT

- Mark Price: 40,001 USDT

- Position Size: 10,000 (contracts)

- Contract Multiplier: 0.00001

- Initial Margin: 1.00%

- Taker Fee%: 0.05%

Given the above conditions, the initial margin of this position will be: 40,001 x 10,000 x 0.00001 x ( 1% + 0.05% * 2 ) = 44.0011 USDT

Maintenance margin (ສະຖານະ Margin) ຄຳນວນໃນໂໝດທາງດຽວໄດ້ແນວໃດ?

Maintenance Margin = Notional Value x ( Maintenance Margin% + Taker Fee% + | Funding Rate% | )
*ກຳນົດ 0% ຂອງອັດຕາການຈັດຫາທືນສຳລັບເປີເຊັນຕິດລົບເມື່ອຖືສະຖານະຊື້ ແລະ ສຳລັບເປີເຊັນບວກເມື່ອຖືສະຖານະຂາຍ*

Notional Value = Mark Price x Position Size x Contract Multiplier

ຕົວຢ່າງ ເມື່ອທ່ານຊື້ສັນຍາຊື້/ຂາຍ BTC ໄລຍະຍາວໂດຍມີເງື່ອນໄຂດັງຕໍ່ໄປນີ້:

- Market Price: 40,000 USDT

- Mark Price: 40,001 USDT

- Position Size: 10,000 (contracts)

- Contract Multiplier: 0.00001

- Maintenance Margin: 0.50%

- Taker Fee%: 0.05%

- Fund Rate%: 0.01%

ພາຍໃຕ້ເງື່ອນໄຂຂ້າງຕົ້ນ ໄລຍະຂອບການບຳລຸງຮັກສາຂອງສະຖານະນີ້ຈະເປັນ: 40,001 x 10,000 x 0.00001 x ( 0.5% + 0.05% + | 0.01% | ) = 22.40056 USDT

Maintenance margin (ສະຖານະ Margin) ຈະຄຳນວນແນວໃດໃນໂໝດປ້ອງກັນຄວາມສ່ຽງ?
Maintenance Margin = min( Long Position Size, | Short Position Size | ) * Entry Price * Contract Multiplier * Rate + ( | Position Size | - min( Long Position Size, | Short Position Size | ) ) * Contract Multiplier * Mark Price * Rate

Rate = Maintenance Margin% + Taker Fee% + | Funding Rate% |

*ກຳນົດອັດຕາການລະດົມທືນເປັນ 0% ສຳລັບເປີເຊັນອັດຕາການລະດົມທືນຕິດລົບເມື່ອຖືສະຖານະຊື້ ແລະ ສຳລັບເປີເຊັນບວກເມື່ອຖືສະຖານະຂາຍ.*

ຕົວຢ່າງ ເມື່ອທ່ານຊື້ສະຖານະຂອງ BTC ດ້ວຍເງື່ອນໄຂຕໍ່ໄປນີ້:

- Market Price: 40,000 USDT

- Mark Price: 40,001 USDT

- Long Position Size: +20,000 (contracts)

- Entry Price of Long Position: 39,000 USDT

- Short Position Size: -10,000 (contracts)

- Entry Price of Short position: 39,990 USDT

- Contract Multiplier: 0.00001

- Maintenance Margin: 0.50%

- Taker Fee%: 0.05%

- Funding Rate%: 0.01%

Hence the maintenance margin of the long position will be:

min( 20000, | -10000 | ) * 39,000 * 0.00001 * ( 0.5% + 0.05% + | 0.01% | ) + ( 20000 - min( 20000, | -10000 | ) ) * 0.00001 * 40,001 * ( 0.5% + 0.05% + | 0.01% | ) = 44.24056

The maintenance margin of the short position will be:

min( 20000, | -10000 | ) * 39,990 * 0.00001 * ( 0.5% + 0.05% ) + ( | -10000 | - min( 20000, | -10000 | ) ) * 0.00001 * 40,001 * ( 0.5% + 0.05% ) = 21.9945

ລາຄາການຊຳລະບັນຊີໃນໂໝດທາງດຽວຈະຄຳນວນແນວໃດ?

Liquidation price of long position = (Notional Value - (Available Balance + Position Margin) ) / ( (1-Rate) * Position Size * Contract Multiplier )

Liquidation price of short position = (Notional Value + (Available Balance + Position Margin) ) / ( (1+Rate) * Position Size * Contract Multiplier )

Notional Value = Mark Price * Position Size * Contract Multiplier

Position Margin = Notional Value * Rate

Rate = Maintenance Margin% + Taker Fees% + | Funding Rate% |

*ກຳນົດອັດຕາການລະດົມທຶນເປັນ 0% ສຳລົບເປີເຊັນອັດຕາການລະດົມທຶນຕິດລົບເມື່ອຖື ແລະ ສຳລັບເປີເຊັນບວກເມື່ອຖືສະຖານະຂາຍ*

For example, you have a BTC Perpetual long position with the following conditions:

- Position Size: 10,000 contracts

- Contract Multiplier: 0.00001

- Entry Price: 40,000 USDT

- Mark Price: 41,000 USDT

- Maintenance Margin%: 0.50%

- Taker Fee %:  0.05 %

- Funding Fee %: 0.01 %

- Available Balance: 300 USDT

ພາຍໃຕ້ເງື່ອນໄຂຂ້ອງຕົ້ນ ລາຄາການຊຳລະບັນຊີຂອງສະຖານະຊື້ຈະເປັນດັງນີ້:

( 41,000 * 10000 * 0.00001 - ( 300 + 41,000 * 10000 * 0.00001 * ( 0.5% + 0.05% + | 0.01% | ) ) ) / ( (1 - ( 0.5% + 0.05% + | 0.01% | ) ) * 10000 * 0.00001 ) = 37,983.10539

ລາຄາຊຳລະບັນຊີໃນໂໝດປ້ອງກັນຄວາມສ່ຽງຈະຄຳນວນໄດ້ແນວໃດ?

ຄຳນວນຂະໜາດສະຖານະສຸດທິກ່ອນ ຫາກທິດທາງຂອງສະຖານະສຸດທິເປັນຂາຂື້ນ ທ່ານສາມາດໃຊ້ສູດລາຄາຊຳລະບັນຊີຂາລົງແບບຂາລົງໄດ້ ຫາກທິດທາງຂອງສະຖານະສຸດທິເປັນຂາລົງ ທ່ານສາມາດໃຊ້ສູດລາຄາຊຳລະບັນຊີຂາລົງແບບຂາລົງໄດ້.

Net Position Size = Long Position Size + Short Position Size

Liquidation Price of Long Position = ( Net Notional Value - ( Available Balance + Position Margin of Net Position size ) ) / ( (1-Rate) * Net Position Size * Contract Multiplier )

Liquidation Price of Short Position = ( Net Notional Value + ( Available Balance + Position Margin of Net Position size ) / ( (1+Rate) * Net Position Size * Contract Multiplier )

Net Notional Value = Mark Price * | Net Position Size | * Contract Multiplier

Position Margin of Net Position Size = Net Notional Value * Rate

Rate = Maintenance Margin% + Taker Fees% + | Funding Rate% |

*Assign 0 Funding Rate% for negative funding rate percentages when holding long positions, and for positive percentages when holding short positionsກຳນົດອັດຕາການລະດົມທຶນເປັນ 0% ສຳລັບອັດຕາການລະດົມທຶນຕິດລົບເມື່ອສະຖານະຊື້ ແລະ ສະຖານະເປີເຊັນບວກເມື່ອສະຖານະຂາຍ. *

ຕົວຢ່າງ ທ່ານມີສະຖານະ BTC Perpetual ທີ່ມີເງື່ອນໄຂດັ່ງຕໍ່ໄປນີ້:

- Long Position Size: +20,000 (contracts)

- Short Position Size: -10,000 (contracts)

- Contract Multiplier: 0.00001

- Mark Price: 41,000 USDT

- Maintenance Margin%: 0.50%

- Taker Fee %:  0.05 %

- Funding Fee %: 0.01 %

- Available Balance: 300 USDT

Hence the liquidation price of this market will be:

Net Position Size = 20000 + (-10000) = 10000

Net Notional Value = 41,000 * | 10000 | * 0.00001 = 4,100

Rate = 0.5% + 0.05% + | 0.01% | = 0.56%

Position Margin of Net Position size = 4,100 * 0.56% = 22.96

Liquidation Price = ( 4,100 - ( 300 + 22.96 ) ) / ( ( 1 - 0.56% ) * 10000 * 0.00001 ) = 37,983.10539

ການປຽບທຽບຄວາມສ່ຽງພາຍໃຕ້ອັດຕາສ່ວນ Margin ສົມດຸນທີ່ແຕກຕ່າງກັນ

ຕົວຢ່າງ 1:

• Margin wallet: 4,000 USDT

• Position: 1 BTC Long Position

• Mark Price: 40,000 USDT

• Position Notional Value: 40,000 USDT

• Risk Limit setting: The lowest setting

• Maintenance Margin: 40,000 x 0.5% = 200 USDT

• Available Balance: 4,000 - 200 = 3,800 USDT

ພາຍໃຕ້ເງື່ອນໄຂຂ້າງຕົ້ນ ອັດຕາສ່ວນ Margin ຄົງເຫຼືອຄື 10% (ກະເປົາ Margin/ມູນຄ່າຕາມບັນຊີຂອງສະຖານະ) ຍອດຄົງເຫຼືອທີ່ໃຊ້ໄດ້ຄື 4,000 - 200 = 3,800 USDT ຫາກລາຄາຫຼຸດລົງເຫຼືອ 36,200 USDT (ຫຼຸດລົງ 9.5%) ຈະມີການຊຳລະບັນຊີ.

*ຕົວຢ່າງທີ່ນີ້ເປັນພຽງຄ່າປະມານ ແລະ ບໍ່ຮ່ວມຄ່າທຳນຽມການຊື້ຂາຍ ແລະ ຄ່າທຳນຽມການລະດົມທືນ.

- ການຈັດສັນ 90% ຂອງມູນຄ່າສົມມຸດເປັນ Margin ໃນກະເປົາ Margin ຂອງທ່ານ ຈະເຮັດໃຫ້ທ່ານພ້ອມທີ່ຈະຮັບມືກັບຄວາມຜັນຜວນຂອງລາຄາໄດ້ສູງເຖິງ 89.5% ຫາກລາຄາປ່ຽນແປງເກີນເກນ 89.5% ນີ້ ການຊຳລະບັນຊີຈະເກີດຂື້ນ.

* ຕົວຢ່າງທີ່ນີ້ເປັນພຽງຄ່າປະມານ ແລະ ບໍ່ຮ່ວມຄ່າທຳນຽມການເທຣດ ແລະ ຄ່າທຳນຽມການລະດົມທືນ.

ການເລືອກອັດຕາສ່ວນ Margin ທີ່ສູງຂື້ນຈະຊ່ວຍເພີ່ມຄວາມສາມາດໃນການຮັບຄວາມສ່ຽງຈາກສະຖານະຂອງທ່ານ ແລະ ຫຼຸດໂອກາດໃນການຖືກຊຳລະບັນຊີສິ່ງສຳຄັນຄືຜູ້ໃຊ້ຈະຕ້ອງພິຈາລະນາຢ່າງຮອບຄອບວ່າຕົນສາມາດຮັບມືກັບຄວາມສ່ຽງໄດ້ຫຼາຍ ແລະ ເລືອກອັດຕາສ່ວນ Margin ທີ່ເໝາະສົມກັບຕົນເອງ.

* ຖ້າທ່ານຕ້ອງການຄວາມຊ່ວຍເຫຼືອເພີ່ມຕື່ມ, ກະລຸນາຕິດຕໍ່ພວກເຮົາທີ່ support@bitqik.com.

What is liquidation and why does it happen?

Liquidation is a mechanism designed to protect traders from incurring losses that exceed their margin balance and potentially lead to liquidation(negative margin balance). To prevent this, the system establishes a minimum margin requirement for each type of contract, known as the maintenance margin. When a trader's margin balance reaches or falls below the maintenance margin requirement, the system initiates the liquidation process. When a position is liquidated, it is unwound and all of the money from your margin is used to cover the losses - hence making your margin balance go to zero. 

What is partial liquidation?

Partial liquidation refers to the process where only a portion of a trader's position is closed to meet the maintenance margin requirements, instead of liquidating the entire position. This helps to minimize potential losses and protects the trader's margin balance from going to zero, while still maintaining a portion of their original position in the market.

What is forced market buying/selling and why does it happen?

Forced market buying/selling refers to a situation in which the trading system automatically executes a buy/sell market order on behalf of the trader, to convert unrealized profits into realized profits. This typically occurs in scenarios where the trader's position is at risk of liquidation due to insufficient margin or when maintenance margin requirements are not met. The purpose of a forced market buy/sell is to mitigate potential losses and protect the trader's remaining margin balance.

What will happen when liquidation or partial liquidation occurs?

Upon liquidation, the system assumes control of your position and the remaining margin balance, aiming to close the position (or part of it) at the liquidation price.

If the position cannot be closed at the liquidation price, the system seeks additional margin from bitqik's insurance fund to adjust the price further up or down, increasing the likelihood of successfully closing the position.

Should the position remain open after these adjustments, the system initiates the auto-deleveraging (ADL) process. This involves systematically matching the liquidated position with opposite positions to close it off. Both sides' position sizes continue to decrease until the liquidated position is entirely  closed. The priority for auto-deleveraging by the liquidation engine is determined by the profit and leverage levels of the counterparty position(s).

*In Hedge Mode, both your long and short positions in the specified market will be liquidated when liquidation occurs. The partial liquidation process will first try to close your fully hedged position size in the specified market. If the margin balance is still insufficient after closing the fully hedged position size, the non-fully hedged position size will also be liquidated

How does the system determine when to initiate the liquidation, partial liquidation or forced market buy/sell process?

Upon entering a position, the system calculates a liquidation price for your reference. If the Mark Price crosses your liquidation price, it indicates that your margin balance is insufficient to meet the maintenance margin requirement. At this point, the system automatically triggers either the liquidation, partial liquidation or forced market buy/sell process, depending on the circumstances.

Mark Price: Acts as a fair price, derived from multiple price sources. To prevent market manipulation and potential liquidation of a significant number of users, bitqik uses the Mark Price as the basis for initiating the liquidation, partial liquidation or forced market buy/sell process.

How can you prevent liquidation and avoid losing more than anticipated?

To minimize the risk of liquidation or losses beyond your expectations, consider implementing the following strategies:

1. Monitor maintenance margin requirements and select a suitable leverage

For instance, the BTC perpetual future contracts necessitate a 0.5% maintenance margin of the notional value (the lowest risk limit setting), while the LTC perpetual futures contracts require 1.5% (the lowest risk limit setting). Be aware that different futures contracts may have varying maintenance margin requirements. 

Choosing an appropriate leverage is also helpful in avoiding liquidation, because the leverage impacts how likely you are to be liquidated. The higher the leverage, the lower the amount of funds available to use as margin.

2. Track your liquidation price and top up your margin balance as needed

When the Mark Price approaches your liquidation price, add funds to your margin balance to prevent the liquidation price from reaching the Mark Price. You can achieve this by depositing more assets into the specific Futures Wallet.

3. Set a stop-loss point and close your position before liquidation occurs

Designate a TP/SL (Take Profit / Stop Loss) setting or create a Stop-Loss Order in advance. If the market price trend deviates from your expectations, the system will trigger the TP/SL setting or the Stop-Loss Order based on your predetermined trigger price. Be aware that in highly volatile markets, TP/SL may perform as expected.

4. Allocate funds according to the level of risk you are willing to accept

In addition to the above strategies, manage your margin balance to avoid unexpected losses.

For example:

Suppose you earned a profit of 1,000 USDT but are only willing to risk 500 USDT. You can transfer 500 USDT back to your Spot Wallet to prevent unanticipated losses caused by the system automatically replenishing your margin.

How is the initial margin calculated?

Initial Margin = Notional Value x ( Initial Margin% + Taker Fee% * 2 )

Notional Value = Mark Price x Position Size x Contract Multiplier

For example, when you buy long contracts of BTC-PERP with the following conditions:

- Market Price: 40,000 USDT

- Mark Price: 40,001 USDT

- Position Size: 10,000 (contracts)

- Contract Multiplier: 0.00001

- Initial Margin: 1.00%

- Taker Fee%: 0.05%

Given the above conditions, the initial margin of this position will be: 40,001 x 10,000 x 0.00001 x ( 1% + 0.05% * 2 ) = 44.0011 USDT

How is the maintenance margin (position margin) calculated in one-way mode?

Maintenance Margin = Notional Value x ( Maintenance Margin% + Taker Fee% + | Funding Rate% | )
*Assign a 0 Funding Rate % for negative funding rate percentages when holding long positions, and for positive percentages when holding short positions. *

Notional Value = Mark Price x Position Size x Contract Multiplier

For example, when you buy long contracts of BTC with the following conditions:

- Market Price: 40,000 USDT

- Mark Price: 40,001 USDT

- Position Size: 10,000 (contracts)

- Contract Multiplier: 0.00001

- Maintenance Margin: 0.50%

- Taker Fee%: 0.05%

- Fund Rate%: 0.01%

Given the above conditions, the maintenance margin of this position will be: 40,001 x 10,000 x 0.00001 x ( 0.5% + 0.05% + | 0.01% | ) = 22.40056 USDT

How is the maintenance margin (position margin) calculated in hedge mode?
Maintenance Margin = min( Long Position Size, | Short Position Size | ) * Entry Price * Contract Multiplier * Rate + ( | Position Size | - min( Long Position Size, | Short Position Size | ) ) * Contract Multiplier * Mark Price * Rate

Rate = Maintenance Margin% + Taker Fee% + | Funding Rate% |

*Assign a 0 Funding Rate % for negative funding rate percentages when holding long positions, and for positive percentages when holding short positions. *

For example, when you buy positions of BTC with the following conditions:

- Market Price: 40,000 USDT

- Mark Price: 40,001 USDT

- Long Position Size: +20,000 (contracts)

- Entry Price of Long Position: 39,000 USDT

- Short Position Size: -10,000 (contracts)

- Entry Price of Short position: 39,990 USDT

- Contract Multiplier: 0.00001

- Maintenance Margin: 0.50%

- Taker Fee%: 0.05%

- Funding Rate%: 0.01%

Hence the maintenance margin of the long position will be:

min( 20000, | -10000 | ) * 39,000 * 0.00001 * ( 0.5% + 0.05% + | 0.01% | ) + ( 20000 - min( 20000, | -10000 | ) ) * 0.00001 * 40,001 * ( 0.5% + 0.05% + | 0.01% | ) = 44.24056

The maintenance margin of the short position will be:

min( 20000, | -10000 | ) * 39,990 * 0.00001 * ( 0.5% + 0.05% ) + ( | -10000 | - min( 20000, | -10000 | ) ) * 0.00001 * 40,001 * ( 0.5% + 0.05% ) = 21.9945

How is the liquidation price calculated in one-way mode?

Liquidation price of long position = (Notional Value - (Available Balance + Position Margin) ) / ( (1-Rate) * Position Size * Contract Multiplier )

Liquidation price of short position = (Notional Value + (Available Balance + Position Margin) ) / ( (1+Rate) * Position Size * Contract Multiplier )

Notional Value = Mark Price * Position Size * Contract Multiplier

Position Margin = Notional Value * Rate

Rate = Maintenance Margin% + Taker Fees% + | Funding Rate% |

*Assign a 0 Funding Rate % for negative funding rate percentages when holding long positions, and for positive percentages when holding short positions. *

For example, you have a BTC Perpetual long position with the following conditions:

- Position Size: 10,000 contracts

- Contract Multiplier: 0.00001

- Entry Price: 40,000 USDT

- Mark Price: 41,000 USDT

- Maintenance Margin%: 0.50%

- Taker Fee %:  0.05 %

- Funding Fee %: 0.01 %

- Available Balance: 300 USDT

Given the above conditions, the liquidation price of the long position will be:

( 41,000 * 10000 * 0.00001 - ( 300 + 41,000 * 10000 * 0.00001 * ( 0.5% + 0.05% + | 0.01% | ) ) ) / ( (1 - ( 0.5% + 0.05% + | 0.01% | ) ) * 10000 * 0.00001 ) = 37,983.10539

How is the liquidation price calculated in hedge mode?

Calculate the Net Position Size first. If the direction of Net Position is long, you can use the long liquidation price formula. If the direction of Net Position is short, you can use the short liquidation price formula.

Net Position Size = Long Position Size + Short Position Size

Liquidation Price of Long Position = ( Net Notional Value - ( Available Balance + Position Margin of Net Position size ) ) / ( (1-Rate) * Net Position Size * Contract Multiplier )

Liquidation Price of Short Position = ( Net Notional Value + ( Available Balance + Position Margin of Net Position size ) / ( (1+Rate) * Net Position Size * Contract Multiplier )

Net Notional Value = Mark Price * | Net Position Size | * Contract Multiplier

Position Margin of Net Position Size = Net Notional Value * Rate

Rate = Maintenance Margin% + Taker Fees% + | Funding Rate% |

*Assign 0 Funding Rate% for negative funding rate percentages when holding long positions, and for positive percentages when holding short positions. *

For example, you have BTC Perpetual Positions with the following conditions:

- Long Position Size: +20,000 (contracts)

- Short Position Size: -10,000 (contracts)

- Contract Multiplier: 0.00001

- Mark Price: 41,000 USDT

- Maintenance Margin%: 0.50%

- Taker Fee %:  0.05 %

- Funding Fee %: 0.01 %

- Available Balance: 300 USDT

Hence the liquidation price of this market will be:

Net Position Size = 20000 + (-10000) = 10000

Net Notional Value = 41,000 * | 10000 | * 0.00001 = 4,100

Rate = 0.5% + 0.05% + | 0.01% | = 0.56%

Position Margin of Net Position size = 4,100 * 0.56% = 22.96

Liquidation Price = ( 4,100 - ( 300 + 22.96 ) ) / ( ( 1 - 0.56% ) * 10000 * 0.00001 ) = 37,983.10539

Risk comparison under different margin balance ratios

Example 1:

• Margin wallet: 4,000 USDT

• Position: 1 BTC Long Position

• Mark Price: 40,000 USDT

• Position Notional Value: 40,000 USDT

• Risk Limit setting: The lowest setting

• Maintenance Margin: 40,000 x 0.5% = 200 USDT

• Available Balance: 4,000 - 200 = 3,800 USDT

Given the above conditions, the margin balance ratio is 10% (Margin Wallet / Position Notional Value). The Available Balance is 4,000 - 200 = 3,800 USDT. If the price drops to 36,200 USDT (a 9.5% reduction), liquidation will occur.

* Examples here are approximations and exclude trading fees and funding fees.

- By allocating 90% of the notional value as margin in your margin wallet, you’re equipped to withstand a price fluctuation of up to 89.5%. Should the price shift exceed this threshold of 89.5%, liquidation will occur. 

* Examples here are approximations and exclude trading fees and funding fees.

Choosing a higher margin ratio increases your ability to take risks with your position and lowers the chance of liquidation. It's important for users to carefully consider how much risk they can handle and pick a margin ratio that suits them.

* If you need further help, please reach out to us at support@bitqik.com.