Futures – FAQ
This document addresses real-world questions and doubts that typically arise once users are already familiar with Futures trading and are actively using the product. These are not beginner questions, but practical clarifications related to execution, balances, PnL behavior, risk, and system mechanics.
1. What fees do I pay when trading Futures?
A 0.1% trading fee is charged on every trade you execute, regardless of whether:
You open or close a position
The trade is profitable or unprofitable
The order type is market or limit
Fees are calculated based on the notional value of the trade, not on profit or margin used, and are deducted in USDC.
2. Why did my balance decrease even though my trade was profitable?
This can happen due to one or more of the following reasons:
Trading fees deducted on entry and/or exit
Partial closes realizing PnL while fees are still applied
Funding or mark price adjustments affecting unrealized PnL before closing
Always evaluate realized PnL after fees, not just price movement.
3. Why is my PnL changing even when price looks unchanged?
PnL can fluctuate even during flat price action due to:
Mark price updates
Bid–ask spread changes
Funding or system recalculations
This behavior is normal in Futures markets and does not indicate an error.
4. Why was my position liquidated even though price never touched my liquidation level?
Liquidation is triggered using the mark price, not the last traded price.
Possible reasons include:
Sudden mark price movement during volatility
Insufficient margin to support the position
High leverage combined with small adverse price movement
Liquidation mechanisms exist to protect the system from negative balances.
5. Why did my order fill at a worse price than expected?
This is usually caused by slippage, which occurs when:
Market liquidity is low
Order size is large
Market orders are used during volatility
Market orders prioritize execution over price certainty. Limit orders provide more price control but may not fill.
6. Why is my order still open and not executed?
An order may remain open if:
The limit price has not been reached
Liquidity at that price is insufficient
Time-in-force conditions prevent execution
Open orders remain active until filled, canceled, or expired based on their configuration.
7. What happens if I partially close a position?
When you partially close:
A portion of the position is closed at the execution price
Corresponding PnL is realized
Remaining position continues with updated size and margin requirements
Risk and liquidation levels adjust dynamically after partial closes.
8. Why did my liquidation price change after opening the position?
Liquidation price can change due to:
Adding or removing margin
Partially closing the position
Switching margin modes
Mark price fluctuations
Liquidation is not a fixed number unless position parameters remain unchanged.
9. Why can’t I withdraw all my available balance?
Some funds may be unavailable for withdrawal because they are:
Locked as margin for open positions
Reserved for open orders
Required as maintenance margin
Only free, unused balance can be withdrawn.
10. What happens to my funds if I have open positions and withdraw?
Withdrawals only affect unused Futures balance.
Open positions remain active and unchanged, but withdrawing too much free balance may:
Increase liquidation risk
Reduce buffer against volatility
Always ensure sufficient margin before withdrawing.
11. Why does closing a position not instantly reflect in my wallet?
After closing a position:
PnL is realized
Margin is released
Funds are returned to your Futures balance
This process may take a short amount of time due to system settlement and network confirmation.
12. Can I lose more than what I deposited?
No. Liquidation mechanisms are designed to prevent negative balances.
However, using high leverage can result in rapid loss of deposited margin, even with small price movements.
13. Why does leverage feel riskier than expected?
Leverage amplifies:
Price movement impact
PnL volatility
Liquidation sensitivity
Small price changes can have outsized effects, especially in volatile markets. Leverage should be used cautiously.
14. Are Futures markets always active?
Yes. Crypto Futures markets operate 24/7, including weekends and holidays.
Volatility and liquidity may vary depending on market conditions.
15. Where can I track my full Futures activity history?
You can review your activity in the Futures section under:
Orders – open and past orders
Activities – complete order history
Transfers – deposit and withdrawal history
These records help track performance, fees, and account changes.
Final Note
Futures trading involves complex mechanics that may not always behave intuitively. Understanding how fees, margin, pricing, and liquidation work together is essential for managing risk and avoiding unexpected outcomes.