Perpetual futures
Contracts with no expiry, settled in USDT, traded from your futures account. You open Long positions (betting on a rise) or Short positions (betting on a fall) with the leverage the instrument allows — up to 300x on selected markets. There are two margin modes: isolated (each position with its own margin) and cross (positions on the same asset share one margin). The minimum order is 5 USDT of notional.
Concepts
| Mark price | The fair price of the contract, computed by the venue from the spot index and funding. It is what counts for PnL, margin and liquidation — not the last trade, so an isolated wick does not liquidate anyone. |
| Notional | Total exposure: position size multiplied by the mark price. The venue computes funding and the minimum order on it. |
| Isolated margin | Collateral dedicated to a single position. The maximum loss is that margin; the rest of the futures account is untouched. |
| Cross margin | All positions on the same asset share one margin. In a liquidation you can lose the whole margin of that asset and of the positions sharing it. |
| Maintenance margin | The minimum margin for the position to stay open, set by the venue per risk tier. Below it, the risk engine liquidates. |
| Leverage | The multiplier chosen at opening, capped per instrument (up to 300x on selected markets). It sets the initial margin; the higher it is, the closer liquidation gets. |
| ROE | Return on the allocated margin: PnL divided by margin. It is the percentage shown in the position popup. |
What it costs
OFFCODE's fee is 2.00% of margin at opening and 2.00% of margin at closing — on the margin, not on the notional, so leverage does not change what you pay. The venue taker fee (~0.04% of notional) is already included in what is sent. A position closed by liquidation does not pay the closing fee. Try it in the Simulator.
Formulas
Adding and removing margin
In isolated margin, from the position popup you can add margin from the futures account's free balance — which pushes the liquidation price away — or remove the excess, which brings it closer. OFFCODE always keeps at least the position's initial margin at the chosen leverage; the removable amount is margin − initial margin + min(0, PnL): open profit does not come out as margin. The screen shows the new liquidation before you confirm.
Closing a position
Market close, total or partial (25 / 50 / 75 / 100%), respecting the market's minimum quantity step. The PnL of the closed part is realised and the proportional margin returns to the free balance. Limit and stop orders, and the position's TP/SL, live in the trading panel.
Liquidation and funding
When the mark reaches the liquidation price, the venue's risk engine closes the position. In isolated margin you never lose more than that position's margin. Funding is paid and charged by the venue directly on the margin, at each market's schedule (mostly every 8 hours); OFFCODE keeps none of it.
The 1001x market
1001x is the same act — betting on the direction of the price — with another leverage cap, on selected markets. The fee is 2.00% of margin, charged only at opening and settled when you transfer back to spot; the venue charges its own fee separately. The 1001x TP/SL is a house trigger, executed at market, with no price guarantee.