数字货币合约交易是指买卖双方对约定未来某个时间按指定价格接收一定数量的某种资产的协议进行交易。合约交易的买卖对象是由交易所统一制定的标准化合约，交易所规定了其商品种类，交易时间，数量等标准化信息。合约代表了买卖双方所拥有的权利和义务。
A digital currency contract transaction is an agreement between the seller and the buyer to accept a certain amount of assets at a specified price at a specified time in the future.
简单点说就是现在约好未来某个时间地点交易一定数量的某种商品。
Simply put, there is now an agreement to trade a certain quantity of commodities at a certain point in time.
合约交易的作用？
The role of the contract deal?
标准化合约设计的初衷是为了对冲现货风险而设计的，为了锁定收益成本，对冲现货价格大幅波动的风险，从事大宗商品买卖的公司或个人会在期货市场下相同头寸的空单（多单），用来抵御风险。
Standardized contracts were designed to hedge off-the-shelf risks and, in order to lock in the cost of earnings and the risk of significant price fluctuations in off-shelf prices, firms or individuals dealing in bulk commodities would be left blank (more than one) in the same position under futures markets to protect against risk.
比特币为代表的数字资产合约交易通常采取价差交割，在合约到期时，系统会对所有没有平仓位以交割价格进行交割结算。
Bitcoin represents a digital asset contract transaction that is usually marked by price differentials, and when the contract expires, all unsettled positions are settled by the system at the delivery price.
合约交易的规则
Rules for contractual transactions
1 交易时间
1 Transaction Time
合约交易是7*24小时交易，只有在每周五16:00（UTC+8）结算或交割期间会中断交易。合约在交割前最后10分钟，只能平仓，不能开仓。
The contract is a 7* 24-hour transaction, which will be interrupted only if it is settled or delivered on a Friday at 16:00 (UTC+8) per week.
2 交易类型
2 Type of transaction
交易类型分为两类，开仓和平仓。开仓和平仓，又分买入和卖出两个方向：
There are two types of transactions.
买入开多（看涨）是指当用户对指数看多、看涨时，新买入一定数量的某种合约。进行“买入开多”操作，撮合成功后将增加多头仓位。
When a user looks at the index and looks up, it buys a certain number of new contracts. A “buy-in-and-open” operation will result in more than one warehouse.
卖出平多（多单平仓）是指用户对未来指数行情不再看涨而补回的卖出合约，与当前持有的买入合约对冲抵消退出市场。进行“卖出平多”操作，撮合成功后将减少多头仓位。
The sale of Pingto (many silos) is a sale contract that is made up by a user to stop looking at future index developments and offsets the exit from the market with the purchase contracts currently held. A “sale torto” operation would reduce the number of warehouses once it is successfully consummated.
卖出开空（看跌）是指当用户对指数看空、看跌时，新卖出一定数量的某种合约。进行“卖出开空”操作，撮合成功后将增加空头仓位。
Selling open spaces (watching down) means selling a certain number of new contracts when a user looks out and looks down on the index. A “sale open” operation will result in an additional empty warehouse.
买入平空（空单平仓）是指用户对未来指数行情不再看跌而补回的买入合约，与当前持有的卖出合约对冲抵消退出市场。进行“买入平空”操作，撮合成功后将减少空头仓位。
The purchase of flats (empty sheets) is a buy-in contract made up by a user that no longer looks down on the future index, offsets the current sales contract and exits the market. A “buy-in flats” operation will reduce the amount of empty silos when it succeeds.
3 下单方式
3 Single mode
限价委托：用户需要自己指定下单的价格和数量。开仓和平仓都可以使用限价委托。
The user needs to specify the price and quantity of the purchase order.
对手价下单：用户如果选择对手价下单，则用户只能输入下单数量，不能再输入下单价格。系统会在接收到此委托的一瞬间，读取当前最新的对手价格（如用户买入，则对手价为卖1价格；若为卖出，则对手价为买1价格），下达一个此对手价的限价委托。
Competing price: If the user chooses the counter price, the user can only enter the number of the order and cannot enter the price. The system will read the latest counter price (if the user buys it, the counter price is one price; if the counter price is one price, the counter price is one price).
4 仓位
4 POSITIONS
用户开仓成交后，即拥有了仓位，同种合约同一方向上的仓位会合并。在一个合约账户中，最多只能有6个仓位，即当周合约多仓、当周合约空仓、次周合约多仓、次周合约空仓、季度合约多仓、季度合约空仓。
The user has a warehouse, and the same sort of contract will merge. In a contract account, there can be only six warehouses at most, i.e., a week of contracts, a week of contracts, a week of contracts, a week of contracts, a week of contracts, a week of contracts, a quarter of contracts, a quarter of contracts and a quarter of contracts.
5 下单限制
5 Threshold
平台对单个用户某个周期合约的持仓数量、单笔开仓/平仓的下单数量会做出限制，防止用户操纵市场。
The platform limits the number of holdings of individual user contracts for a given cycle and the number of purchase orders for single openings/silos in order to prevent users from manipulating the market.
当用户的持仓数量或委托数量过大，平台认为可能对系统和其他用户产生严重风险时，平台有权要求用户采用包括但不限于撤单，平仓等风控措施。平台有权采用包括但不限于限制总仓位数量，限制总委托数量，限制开仓，撤单，强行平仓等措施进行风险控制。
The platform has the right to require users to use wind control measures, including but not limited to clearing orders, silos, etc. The platform has the right to use measures that include, but are not limited to, limiting the total number of positions, limiting the total number of orders, limiting the opening of warehouses, withdrawing orders and imposing risk control measures.
保证金
Bonds
1 什么是保证金？
1 What's a bond?
在虚拟合约市场上，用户只需根据合约价格，按一定比率交纳少量资金作为履行合约的财力担保，便可参与合约的买卖，这种资金就是虚拟合约保证金。
In the virtual contract market, a user may participate in the sale of a contract only by paying a small amount of money at a certain rate as a financial guarantee for the performance of the contract, based on the price of the contract, which is the virtual contract bond.
例如 你拿一个BTC 10倍看涨 ，这时候相当于你有10BTC，涨10个点，你就有2个BTC了（实际上是1.909个，具体算法后面讲）。但跌了，就先亏这一个BTC，这个BTC就是保证金。
For example, when you take a BTC 10 times higher, it's like you have 10 BTCs, 10 points up, and you have two BTCs (in fact 1.909, after the algorithm). But you fall, you lose this BTC, and this BTC is the bond.
2 什么是杠杆？
2 What's leverage?
杠杆一种常见金融交易制度，即保证金制度。“杠杆”使投资者可交易金额被放大的同时，也使投资者获得的收益和承担的风险加大了。也就是放大了收益和风险。
Leveraging a common system of financial transactions, i.e. a bond system. “leveraging” magnifies the amount of money that an investor can trade, and also increases the benefits and risks that an investor receives. That is, multiplying the benefits and risks.
3 保证金模式有两种：
3 There are two types of bond model:
全仓模式
Full warehouse mode
用户开仓后,账户内的所有仓位持仓的风险和收益合并计算，持仓需要的保证金，会随着最新成交价的变化而变化。全仓保证金模式下，开仓的要求是开仓后的保证金率不能低于100％。
When the user opens the warehouse, the risk and benefits of holding all the positions in the account are calculated together, and the security required to hold the warehouse will vary according to the latest offer. Under the full warehouse bond model, the requirement for opening the warehouse is not less than 100% after the start of the warehouse.
逐仓模式
Warehouse-by-storey mode
每个合约的双向持仓将会独立计算其保证金和收益，只有开仓可用保证金大于等于开仓所需的保证金数量，用户才能进行委托。而逐仓保证金时，每个合约的开仓可用保证金可能不一致。
Each contract’s two-way warehouse will calculate its bond and proceeds independently, and the user will be able to commission the bond only if the opening bond is greater than the amount required to open the warehouse. In the case of a warehouse deposit, each contract’s opening bond may be inconsistent.
4 保证金计算公式
4 Bond calculation formula
持仓保证金=（合约面值*持仓合约数量）/最新成交价/杠杆倍数
Warehousing bond = (contractual value * number of contracts held) / latest available transaction/leveraging multiples
例如 现在BTC的最新价格为4000USD ，杠杆倍数为10， BTC的合约面值为100USD，买入开多40张，持仓保证金=（100*40）/4000/10=0.1BTC
For example, BTC's latest price is now 4000 USDD, the leverage is 10 times, BTC's contract value is 100 USDD, buys 40 more, holds a warehouse deposit = (100*40) 4000/10 = 0.1 BTC
也就是 在4000USD的价格 买入开多40张 ，下单0.1BTC 10倍杠杆，就相当于下单了1BTC。
That is, at the price of 4,000 USDD, you buy 40 more, and the bill 0.1 BTC 10 times the leverage, which is equivalent to 1 BTC.
5 保证金率：
5 Guarantee rate:
保证金率是衡量用户资产风险的指标，保证金率越小，账户的风险越高。当保证金率小于等于0时，您的仓位将会被系统强制平仓。返回搜狐，查看更多
The bond rate is an indicator of the risk to the assets of the user. The smaller the bond rate, the higher the risk to the account. When the bond rate is less than zero, your warehouse will be forced down by the system. 责任编辑：
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