In cryptocurrency trading, effective position risk management is one of the keys to success. By applying the right strategies, traders can protect their capital and reduce potential losses. <h2>What Is Position Risk?</h2>Position risk refers to the potential losses a trade may face when the market moves in an unfavorable direction. Key factors include:<ul><li>Position size: The larger the position, the higher the risk.</li><li>Leverage ratio: Higher leverage magnifies both potential gains and potential losses.</li><li>Market volatility: Rapid price changes have a direct impact on open positions.</li></ul> <h2>Key Strategies to Control Position Risk</h2><h3>1. Set Stop-Loss Orders</h3>A stop-loss order automatically closes a position once the price reaches a preset level, ensuring losses remain within an acceptable range.<h3>2. Manage Position Size</h3>Always size your trades according to your personal risk tolerance to avoid overexposing your account.<h3>3. Diversify Investments</h3>Avoid allocating all funds into a single asset or trade. Diversification helps spread risk across different markets and reduces the impact of one position.<h3>4. Use Leverage Cautiously</h3>While leverage can increase returns, it also amplifies losses. Keep leverage at a reasonable level, especially in highly volatile markets.<h3>5. Monitor Market Conditions</h3>Regularly evaluate market volatility, liquidity, and upcoming news or events. These factors can significantly impact price movements and position risk. <h2>Risk Management Features in BYDFi Perpetual Contracts (PC)</h2><h3>🔹 Add Margin</h3><ul><li>On the Positions page, you can manually add margin to lower leverage and adjust the liquidation price. 👉 Learn more here: <a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/d8kgvj5o2ynk" target="_blank">Add Margin in Perpetual Contracts</a></li></ul><img src="https://uploads.bydfi.in/events/cms/BYD.1758102569683.image.png" alt="BYD.1758102569683.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1758102569683.image.png" style="width: 100%;"/><h3>🔹 Modify Stop-Loss Price</h3><ul><li>On the Perpetual Contracts trading page, you can directly edit the stop-loss level.</li><li>The default stop-loss ratio is 100%. 👉 Learn more here: <a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/gtzisowhugy1?title=What+is+the+Difference+Between+the+Mark+Price+and+the+Last+Price+Trigger%3F" target="_blank">Stop-Loss Triggers: Mark Price vs. Last Price</a></li></ul><img src="https://uploads.bydfi.in/events/cms/BYD.1758102599050.image.png" alt="BYD.1758102599050.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1758102599050.image.png" style="width: 100%;"/>⚠️ Disclaimer: This content is for educational purposes only and does not constitute investment advice. Please evaluate carefully before making any trading decisions.

How to Control Position Risk in BYDFi Perpetual Contracts (PC)

How to Control Position Risk in BYDFi (PC)｜BYDFi Help Center

<img src="https://uploads.bydfi.in/events/cms1736162403814OoNnEG7Jelux.png" alt="image.png" data-href="" style="width: 100%;"/>When trading BYDFi perpetual contracts, traders pay different fees depending on whether their order is classified as a Maker or a Taker.Understanding the difference is important because it affects both your trading costs and your strategy. <h2>Maker vs Taker: The Key Difference</h2><ul><li>Maker = Adds liquidity to the market.</li><li>Taker = Removes liquidity from the market.</li></ul>Liquidity simply means how much buying and selling activity exists in the order book. Makers help create market depth, while Takers use (or "take") that liquidity. <h2>What Is a Maker?</h2><ul><li>A Maker order is a limit order that is not executed immediately.</li><li>By placing such an order, you are "making" liquidity in the market because your order sits in the order book, waiting for someone else to match it.</li><li>Maker orders are typically more cost-efficient for traders who are patient.</li></ul>Example: BTC price is 140,000 USDT.<ul><li>You place a Limit Buy Order at 138,800 USDT.</li><li>Since it is below the current market price, your order goes into the order book and waits for a seller.</li><li>This makes you a Maker.</li></ul>👉 Maker Fee Rate on BYDFi: 0.02% <h2>What Is a Taker?</h2><ul><li>A Taker order is one that gets matched and executed immediately.</li><li>This includes market orders and limit orders that instantly match with an existing order in the order book.</li><li>Takers "take away" liquidity because they remove available orders.</li></ul>Example: BTC price is 140,000 USDT.<ul><li>You place a Market Buy Order.</li><li>Your order is instantly filled at the best available price in the order book (e.g., 140,000.5 USDT).</li><li>This makes you a Taker.</li></ul>👉 Taker Fee Rate on BYDFi: 0.06% <h2>Maker vs Taker Fee Rates on BYDFi</h2><table style="width: auto;"><tbody><tr><th colspan="1" rowspan="1" width="auto" style="text-align: center;">Role</th><th colspan="1" rowspan="1" width="auto" style="text-align: center;">Order Type</th><th colspan="1" rowspan="1" width="auto" style="text-align: center;">Action</th><th colspan="1" rowspan="1" width="auto" style="text-align: center;">Fee Rate</th></tr><tr><td colspan="1" rowspan="1" width="auto" style="text-align: center;">Maker</td><td colspan="1" rowspan="1" width="auto" style="text-align: center;">Limit order (not filled immediately)</td><td colspan="1" rowspan="1" width="auto" style="text-align: center;">Adds liquidity</td><td colspan="1" rowspan="1" width="auto" style="text-align: center;">0.02%</td></tr><tr><td colspan="1" rowspan="1" width="auto" style="text-align: center;">Taker</td><td colspan="1" rowspan="1" width="auto" style="text-align: center;">Market order or limit order (immediately filled)</td><td colspan="1" rowspan="1" width="auto" style="text-align: center;">Removes liquidity</td><td colspan="1" rowspan="1" width="auto" style="text-align: center;">0.06%</td></tr></tbody></table> <h2>Why Does It Matter?</h2><ul><li>Makers generally pay lower fees (0.02%) because they provide liquidity and help the exchange run smoothly.</li><li>Takers pay higher fees (0.06%) because they demand instant execution, removing liquidity.</li><li>Traders who want to save on fees often prefer Maker strategies (placing patient limit orders).</li><li>Traders who prioritize speed and certainty often use Taker strategies (market orders).</li></ul> <h2>Related Resources</h2>For more details, you can also check:<ul><li><a href="https://www.bydfi.com/server/en/support/FAQs/articles/on7fv1tccy2h" target="_blank">Transaction Fee Calculation</a></li><li><a href="https://www.bydfi.com/server/en/support/FAQs/articles/v3g17kzsexfg" target="_blank">Funding Fee Calculation</a></li><li><a href="https://www.bydfi.com/server/en/support/FAQs/articles/ipjvewuuebgm" target="_blank">When Will the Transaction Fees Be Charged?</a></li></ul>

What is Maker/Taker?

What Is Maker/Taker?｜BYDFi Help Center

A Reduce Only order is a special type of order designed to reduce or close an existing position — it will never increase your position size or open a new one. This order type is widely used for risk management and capital control, helping traders avoid overexposure and unexpected reverse positions. <h2>Key Benefits of Reduce Only Orders</h2><ul><li>✅ Risk management: Prevents unwanted increases in exposure.</li><li>✅ Capital control: Lets you scale down positions according to market conditions.</li><li>✅ Trade protection: Avoids accidental reverse orders when stop-loss or take-profit orders are triggered.</li></ul>👉 In short, Reduce Only ensures that your order will only decrease your open position size, never add to it. <h2>Example of a Reduce Only Order</h2>A trader holds a long position of 20,000 USDT with:<ul><li>A stop-loss set at 18,000 USDT</li><li>A take-profit limit order set at 22,000 USDT</li></ul>Scenario:<ol><li>The market first drops to 18,000 USDT (stop-loss triggers).</li><li>Then the price rebounds to 22,000 USDT.</li></ol><ul><li>If the trader enabled Reduce Only, no reverse short position will be opened at 22,000 USDT.</li><li>If Reduce Only was not selected, the 22,000 USDT take-profit order could create a reverse position.</li></ul>⚠️ This shows how Reduce Only helps avoid unexpected opposite positions. <h2>How to Set a Reduce Only Order on BYDFi</h2><h3>On APP</h3>Make sure you are in One-Way Position Mode (check at the top right of the trading panel).<img src="https://uploads.bydfi.in/events/cms/BYD.1758100944722.image.png" alt="BYD.1758100944722.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1758100944722.image.png" style="width: 50%;"/>Tick the Reduce Only checkbox when placing your order.<img src="https://uploads.bydfi.in/events/cms/BYD.1758100971051.image.png" alt="BYD.1758100971051.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1758100971051.image.png" style="width: 50%;"/> <h2>When to Use Reduce Only Orders</h2><ul><li>You want to close or decrease an existing position without risk of opening a new one.</li><li>You are managing stop-loss and take-profit orders.</li><li>You want to prevent reverse orders caused by market volatility.</li></ul> <h2>Summary</h2><ul><li>Reduce Only orders are a powerful tool for controlling exposure in derivatives trading.</li><li>They ensure that your trades will only reduce your current position, never increase it.</li><li>Ideal for stop-loss and take-profit strategies to avoid reverse positions.</li><li>Available on both BYDFi PC and App platforms.</li></ul> ✅ By using Reduce Only orders on BYDFi, you can trade safer, manage risks effectively, and protect your capital against unexpected market moves.

How to Use Reduce Only Order on BYDFi (APP)

How to Use Reduce-Only Order on BYDFi (APP)｜BYDFi Help Center

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 <img src="https://uploads.bydfi.in/events/cmsBYD.1735566988153.Cost1.jpg" alt="BYD.1735566988153.Cost1.jpg" data-href="https://uploads.bydfi.in/events/cmsBYD.1735566988153.Cost1.jpg" style="width: 100%;">
 When a user opens a position, the user's wallet needs a certain initial margin to open the position. In addition, if the trigger price is lower than the mark price when the user places an order, an "opening loss" will occur. Therefore, users need more margin to avoid liquidation when opening a position. Opening Cost = Initial Margin + Open Loss (If any) Step 1: Calculate the Position Value Position Value = Par Value * Cont / Entry Price Position Value = (1 USD * 10000) / 65000 USD = 0.15384615 BTC Step 2: Calculate the Initial Margin ( 10X Leverage) Initial Margin = 0.15384615 BTC / 10 =0.01538462 BTC Step 3: Calculate the Open Loss Open Loss = Absolute Value {Minimum [0, Number of Orders x Contract Multiplier x (1 / Order Price - 1 / Mark Price)]} Open Loss for Long Positions: = Absolute Value {Minimum [0.10000 x 1x (1 / 65,000 USD - 1 / 64,802 USD)]} = 0.00047007BTC Open Loss for Short Positions: = Absolute Value {Minimum [0.10000 x 1x (1 / 64,802 USD - 1 / 65,000 USD)]} = 0 Step 4: Calculate Opening Cost Since there is an opening loss on the long position, the opening cost of the long position requires an additional opening loss in addition to the initial margin in order to avoid liquidation when opening the position. Long Position Opening Cost: 0.01538462 BTC + 0.0004700 BTC = 0.01585462 BTC (difference due to rounding off) The short order is open without an opening loss, so the opening cost of the short order is the initial margin. Short Position Opening Cost: 0.01538462 BTC + 0 = 0.01538462 BTC
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Opening Cost Calculation

Opening Cost Calculation｜BYDFi Help Center

<img src="https://uploads.bydfi.in/events/cmsBYD.1735301417084.image.png" alt="BYD.1735301417084.image.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735301417084.image.png" style="width: 100%;"/>In the cryptocurrency market, prices are highly volatile and investors and traders are often exposed to significant price risk. In order to manage these risks, many investors choose to hedge their positions using currency-based sustainable contracts. What is Hedging?While buying/selling, you can sell/buy the same amount but in the opposite direction of contracts at BYDFi as a way to protect against risk and offset losses due to price movements. In times of market instability, you can ensure the value of your crypto currency holdings. Here is an example of how you can hedge through a COIN-M Perpetual Contract on BYDFi: FIBO purchases and holds one ETH at the price of 3,000 and purchases the following specification contracts through BYDFi. Product: ETHUSD COIN-M Perpetual Contract Specification: 1X Leverage/Short If the price of ETH remains at 3,000 There is no profit or loss on positions. If the price of ETH drops to 1,500 There is an opening position of 1 ETH. When the user closes the position, he will have the original 1 ETH + 1 ETH position profit = 2 ETH. Even if the market price drops by half, the total value of the position remains the same. If the price of ETH rises to 6,000 There is an opening position of 0.5 ETH. When the user closes the position, he will have the original 1 ETH - 0.5 ETH position loss = 0.5 ETH. 0.5 ETH = $3,000, so the total value of the holdings remains the same. If the user only holds 1 ETH, he will face a higher risk if the market rises or falls as mentioned above. However, through this method of operation, users can still achieve a hedge even if the market is unstable. Note: The above calculation of profit and loss does not include transaction fees. Advantages and Risks of Hedging Advantages:<ul><li>Risk reduction: By hedging, you can protect your spot position from losses during price fluctuations.</li><li>Flexibility: Currency-based perpetual contracts allow you to open and close positions at any time, providing you with the flexibility to respond to market movements.</li><li>Long-term use: Since the perpetual contract has no expiration date, you can hold the hedged position for a long time.</li></ul>Risk:<ul><li>Transaction costs: Handling fees will be incurred for each trade and may be higher especially if positions are adjusted frequently.</li><li>Funding Costs: A perpetual contract involves a funding rate, which is a cost for the duration of the position and may increase when market funding rates are unfavorable to you.</li><li>Leverage Risk: Hedging with leverage can be more capital efficient, but it can also increase risk, especially during times of high market volatility.</li></ul>Hedging with currency-based perpetual contracts is an effective risk management strategy to protect your assets in the event of high volatility in the cryptocurrency market. By properly calculating the contract size, opening short positions, monitoring market movements, and adjusting positions at any time, you can minimize your risk and invest securely during market volatility.

How to Hedge with COIN-M Perpetual Contracts

Hedging with COIN-M Perpetual Contracts｜BYDFi Help Center

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 <img src="https://uploads.bydfi.in/events/cmsBYD.1735300655567.image.png" alt="BYD.1735300655567.image.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735300655567.image.png" style="width: 100%;">Regardless of any trades, it is important to understand how P&amp;L is calculated before entering one.We will introduce them one by one in order so that traders can understand exactly how the following variables affect the calculation of profit and loss.
 
 Average Entry Price (AEP) of Position
 In BYDFi's COIN-M trading (BTCUSD, ETHUSD, DOTUSD, and XRPUSD), whenever traders add on to their position, the average entry price will change.
 
 Example: FIBO now holds a long position of 1,000 BTCUSD with the opening price of 5,000 USD. An hour later, FIBO decides to open an additional position of 2,000 with an opening price of 6,000 USD.
 
 Average Entry Price = Contract Quantity / Total Contract Value in BTC Contract Quantity = 1,000 + 2,000 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;= 3,000
 
 Total Contract Value in BTC = (1,000 / 5,000) + (2,000 / 6,000) &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;= 0.53333334 BTC
 
 Average Entry Price = 3,000 / 0.53333334 BTC &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 　 　 = 5,625 USD
 
 Contract Value (Position) = Contract Quantity * Contract Multiplier / Average Entry Price
 
 Unrealized Profit and Loss (P&amp;L)
 Once the order is filled, the position and its unrealized profit and loss can be instantly seen in the position area.
 
 The formula for calculating unrealized profit and loss will be different according to the direction of your trade. Long Positions Example: FIBO holds a long position of 1,000 BTCUSD with an entry price of 5,000 USD. When the current mark price in the position table is displayed as 5,500 USD, the unrealized profit and loss will be displayed as 0.01819 BTC.
 
 Unrealized Profit and Loss = Contract Quantity * [(1/ Average Entry Price) - (1 / Current Mark Price)]
 = 1,000 * [(1 / 5,000) - (1/ 5,500)] = 1,000 * 0.00001819 BTC = 0.01819 BTC
 
 Short Positions Example: FIBO holds a short position of 1,000 BTCUSD with an entry price of 5,000 USD. When the current mark price in the order table is displayed as 4,500 USD, the unrealized profit and loss will be displayed as 0.02223 BTC.
 
 Unrealized Profit and Loss = Contract Quantity * [(1 / Current Mark Price) - (1/ Average Entry Price)]
 = 1,000 * [(1 / 4,500) - (1 / 5,000)] = 1,000 * 0.00002223 BTC = 0.02223 BTC
 
 Notice:
 <ul>
 <li>In COIN-M Perpetual Contracts, your profit and loss are settled in the underlying assets, not in USD. The US dollar (USD) here is mainly used as a quotation mechanism, just for traders' reference.</li>
 <li>It refers to the fluctuation in the price (such as 500 USD), and it does not necessarily mean that you have won or lost 500 USD.</li>
 <li>When the leverage is increased, it will not directly affect your profit or loss. On the contrary, profit and loss are determined by position size and price fluctuations. In simple terms: The higher the leverage, the lower the margin collateral needed to open your position. The larger the contract quantity, the bigger the profit or loss. The greater the distance between the price and the entry price, the greater the profit or loss.</li>
 <li>The default unrealized P&amp;L is shown based on the Last Mark Price. Place the mouse on the displayed number and the unrealized P&amp;L will be displayed at the mark price.</li>
 <li>Lastly, it is important to note that the calculation of unrealized P&amp;L does not include any transaction fees or funding fees paid or received by the trader in the course of opening, closing, or holding a position.</li>
 </ul>
 
 Percentage of Unrealized P&amp;L (%)
 Unrealized P&amp;L % basically shows the return on investment (ROI) of this position in percentage form. &nbsp;Just like unrealized profit and loss, this figure is constantly changing with the latest market price. Therefore, the formula for the percentage of unrealized profit and loss is as follows:
 
 Percentage of Unrealized P&amp;L (%) = [Unrealized Profit and Loss / Initial Margin] * 100% Initial Margin = (Position Value * Initial Margin Rate) + Transaction Fee Notice:
 <ul>
 <li>There is a misconception among some traders that increasing your leverage will not increase your unrealized profit. An increase in the P&amp;L% is actually due to the decrease in the margin used for the position, not an increase in the actual profit.</li>
 </ul>
 Closed P&amp;L 
 When the trader finally closes the position, the profit and loss are finally realized, and the record can be found in the trade history.
 <table style="width: 100%;">
 <tbody>
 <tr>
 <td colspan="1" rowspan="1" width="auto"> </td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">Calculation of Unrealized P&amp;L </td>
 <td colspan="1" rowspan="1" width="auto">Calculation of Closed P&amp;L</td>
 </tr>
 <tr>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">Position Profit and Loss (P&amp;L)</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
 </tr>
 <tr>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">Trading Fee(s)</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">NO</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
 </tr>
 <tr>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">Funding Fee(s)</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">NO</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
 </tr>
 </tbody>
 </table>
 Closed P&amp;L = Position P&amp;L - Opening Fee - Closing Fee - Total Funding Fee Paid/Received
 
 FIBO holds a short position of 1,000 BTCUSD with an entry price of 5,000 USD. When the latest market price is displayed as 4,500 USD, FIBO decides to close the entire position through the market price. Assume that FIBO also opened the position through a market order and paid a total of 0.00005 BTC as funding fees during the position period.
 
 Based on our previous calculation: Position P&amp;L = 0.02223 BTC (Profit) Opening Fee = (1000 / 5000) x 0.06% = &nbsp;0.00012 BTC Closing Fee &nbsp; = (1000 / 4500) x 0.06% = &nbsp;0.00013 BTC Total Funding Charges Paid / Received = 0.00005 BTC (Paid) Closed P&amp;L = 0.02223 - 0.00012 - 0.00013 - 0.00005 = 0.02193 BTC
 
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P&L Calculations (COIN-M)

P&L Calculation (COIN-M)｜BYDFi Help Center

<html>
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 <img src="https://uploads.bydfi.in/events/cmsBYD.1735298049579.image.png" alt="BYD.1735298049579.image.png" data-href="https://uploads.bydfi.in/events/cmsBYD.1735298049579.image.png" style="width: 100%;">Regardless of any trades, it is important to understand how P&amp;L is calculated before entering one. We will introduce them one by one in order so that traders can understand exactly how the following variables affect the calculation of profit and loss.
 
 Average Entry Price (AEP) of Position
 In BYDFi's USDT-M trading, whenever traders add on to their position, the average entry price will change.
 
 Example: FIBO now holds a long position of 0.1 BTCUSDT with the opening price of 40,000 USDT. An hour later, FIBO decides to open an additional position of 0.1 with an opening price of 42,000 USDT.
 
 Average Entry Price = Total Contract Value in USDT / Contract Quantity Total Contract Value = [(Contract Quantity 1 * Price 1) + (Contract Quantity 2 * Price 2)...]
 
 Total Contract Value = [ (Contract Quantity 1 * Price 1) + (Contract Quantity 2 * Price 2) ]
 = [ (0.1 * 40,000) + (0.1 * 42,000) ] = 8,200
 
 Contract Quantity = 0.1 + 0.1= 0.2 BTC Average Entry Price = 8,200 / 0.2 = 41,000
 
 Unrealized Profit and Loss (P&amp;L)
 Once the order is filled, the position and its unrealized profit and loss can be instantly seen in the position area.
 The formula for calculating unrealized profit and loss will be different according to the direction of your trade. Long Positions Example: FIBO holds a long position of 0.2 BTCUSDT with an entry price of 41,000 USDT. When the current mark price in the position table is displayed as 43,000 USDT, the unrealized profit and loss will be displayed as 400 USDT.
 Unrealized Profit and Loss = Contract Quantity * (Current Mark Price - Position Entry Price)
 = 0.2 * (43,000 - 41,000)= 400 USDT
 
 Short Positions Example: FIBO holds a short position of 0.4 BTCUSDT with an entry price of 40,000 USDT. When the current mark price in the order table is displayed as 39,000 USDT, the unrealized profit and loss will be displayed as 400 USDT. Unrealized Profit and Loss = Contract Quantity * (Position Entry Price - Current Mark Price)
 = 0.4 * ( 40,000 - 39,000) = 400 USDT Notice:
 <ul>
 <li>In USDT-M Perpetual Contracts, your profit and loss are settled in USDT. This is the exact opposite &nbsp;of COIN-M Perpetual Contracts, which are settled in the currency being traded (e.g., a BTCUSD COIN-M Perpetual Contract is settled in BTC).</li>
 <li>A fluctuation in price (e.g., 1000 USDT) in either direction, assuming a position size of 1 BTC, means that the trader has made or lost 1000 USDT.</li>
 <li>When the leverage is increased, it will not directly affect your profit or loss. On the contrary, profit and loss are determined by position size and price fluctuations. In simple terms: The higher the leverage, the lower the margin collateral needed to open your position. The larger the contract quantity, the bigger the profit or loss. The larger the price movement relative to the entry price, the bigger the profit or loss.</li>
 <li>The default unrealized P&amp;L is shown based on the Last Mark Price. Place the mouse on the displayed number and the unrealized P&amp;L will be displayed at the mark price.</li>
 <li>Lastly, it is important to note that the calculation of unrealized P&amp;L does not include any transaction fees or funding fees paid or received by the trader in the course of opening, closing, or holding a position.</li>
 </ul>
 Percentage of Unrealized P&amp;L (%)
 The rate of return basically shows the return on investment (ROI) of this position in percentage terms. Just like unrealized profit and loss, this figure is constantly changing with the latest market price. Therefore, the formula for the percentage of unrealized profit and loss is as follows:
 
 Percentage of Unrealized P&amp;L (%) = [Unrealized Profit and Loss / Position Margin] * 100% Position Margin = Initial Margin + Closing Fee
 
 For example, FIBO holds a long position of 0.2 BTCUSDT, and the entry price is 41,000 USDT. When the latest market price is displayed as 43,000 USDT, the unrealized profit and loss will be displayed as 400 USDT. The leverage is 10X.
 
 Based on the previous calculation, the unrealized profit and loss of the position = 400 USDT Initial Margin = (Contract Quantity * Entry Price) / Leverage= (0.2 * 41,000) / 10 = 820 USDT Closing Fee = Bankruptcy Price * Contract Quantity * 0.06% = 36877.86 * 0.2 * 0.06% = 4.4253USDT Percentage of Unrealized P&amp;L (%) = [ 400 USDT / ( 820 USDT + 4.4253 USDT ) ] * 100% = 48.52%
 
 Notice:
 <ul>
 <li>There is a misconception among some traders that increasing your leverage will not increase your unrealized profit. An increase in the P&amp;L% is actually due to the decrease in the margin used for the position, not an increase in the actual profit. Using FIBO as an example again, notice that regardless of leverage is 10X, 5X, or 50X, the unrealized P&amp;L remains the same. If FIBO uses the leverage of 10X, Unrealized P&amp;L = 400 USDT and the Percentage of Unrealized P&amp;L = 48.52% If FIBO lowers the leverage to 5X, Unrealized P&amp;L = 400 USDT and the Percentage of Unrealized P&amp;L = 24.32% If FIBO increases the leverage to 50X, Unrealized P&amp;L = 400 USDT and the Percentage of Unrealized P&amp;L = 237.49% </li>
 <li>For cross-margin mode, the position margin will be calculated based on the maximum leverage used for the particular currency (for example, BTCUSDT = 125X).</li>
 </ul>
 Closed P&amp;L
 When the trader finally closes the position, the profit and loss are finally realized, and the record can be found in the trade history.
 <table style="width: 100%;">
 <tbody>
 <tr>
 <td colspan="1" rowspan="1" width="506.03"> </td>
 <td colspan="1" rowspan="1" width="486.76" style="text-align: center;">Calculation of Unrealized P&amp;L </td>
 <td colspan="1" rowspan="1" width="402.23" style="text-align: center;">Calculation of Closed P&amp;L</td>
 </tr>
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 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">Position Profit and Loss (P&amp;L)</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
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 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">Trading Fee(s)</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">NO</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
 </tr>
 <tr>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">Funding Fee(s)</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">NO</td>
 <td colspan="1" rowspan="1" width="auto" style="text-align: center;">YES</td>
 </tr>
 </tbody>
 </table>
 Closed P&amp;L = Position P&amp;L - Opening Fee - Closing Fee - Total Funding Fee Paid/Received
 FIBO holds a short position of 0.4 BTCUSDT with an entry price of 40,000 USDT. When the latest market price is displayed as 39,000 USDT, the unrealized profit and loss will be displayed as 400 USDT. FIBO decides to close the entire position through the market price. FIBO opened the position through a market order, and paid a total of 4.2 USDT of funding fees during the holding period.
 
 Based on our previous calculation: Position P&amp;L = 400 USDT (Profit) Opening Fee = Contract Quantity * Entry Price * 0.06% = 9.60 USDT Closing Fee = Contract Quantity * Closing Price * 0.06% = 9.36 USDT Total Funding Charges Paid/Received = 4.20 USDT (Paid) Closed P&amp;L = 400 - 9.60 - 9.36 - 4.20 = 376.84 USDT
 
 Notice:
 <ul>
 <li> The above example only applies to the opening and closing of the position with a single order. &nbsp;</li>
 <li> For a partial closing, the closing P&amp;L is calculated proportionally to all fees (opening fees and funding fees), based on the percentage of the partial closing, and then proportionally displayed in the closing P&amp;L.</li>
 </ul>
 
 </body>
</html>

P&L Calculations (USDT-M)

P&L Calculation (USDT-M)｜BYDFi Help Center

<img src="https://uploads.bydfi.in/events/cms/BYD.1747037027358.image.png" alt="BYD.1747037027358.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1747037027358.image.png" style="width: 100%;"/>By default, the candle chart on BYDFi displays the historical trend of the platform's latest transaction prices. Since BYDFi employs a margin ratio-based liquidation mechanism, forced liquidation is triggered when the margin ratio reaches 100%. Therefore, the latest transaction price and liquidation price are for reference only. Once the margin ratio reaches 100%, your position will be taken over by the liquidation engine and eventually closed at the bankruptcy price. What Is the Bankruptcy Price?The bankruptcy price is the theoretical price at which a position is closed after being taken over by the liquidation engine when the margin is fully depleted (reaches zero). Thus, the bankruptcy price is not displayed on the chart but is used to calculate the final financial outcome. Any difference between the bankruptcy price and the market's latest price is added to the insurance fund. For details, refer to the article on the forced liquidation process below. SummaryWhen managing your position, focus on the margin ratio instead of solely on the latest transaction price. To avoid forced liquidation, consider adding more margin when necessary to reduce liquidation risk. Related Articles:<a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/mstolr0em3cy" target="_blank">The Process of Forced Liquidation (USDT-M)</a><a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/qv2a04edzk3i" target="_blank">The Process of Forced Liquidation (COIN-M)</a><a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/f5tskl421ho6" target="_blank">Liquidation Price Calculation (USDT-M)</a><a href="https://www.bydfi.com/en/support/PRODUCT_DESCRIPTION/articles/qzpvgt1ov8xg" target="_blank">Liquidation Price Calculation (COIN-M)</a>

Why Can't I See the Bankruptcy Price on the Chart?

Why Can’t I See the Bankruptcy Price on Chart?｜BYDFi Help Center

<img src="https://uploads.bydfi.in/events/cms1736162439778D1dlJo1VcnDA.png" alt="image.png" data-href="" style="width: 100%;"/>Initial MarginInitial margin refers to the minimum collateral amount required to open a position in leveraged trading. The leverage used by traders is inversely proportional to the initial margin required to hold a position. The higher the leverage, the less initial margin is required. In the COIN-M Perpetual Contract, the initial margin is obtained by multiplying the order value by the initial margin rate. The initial margin rate depends on the leverage used. Initial Margin = Contract Quantity / Entry Price / Leverage Example:FIBO opened a long order of 500 BTCUSD contracts at 40,000 USD with 50X leverage.Initial Margin = 500 / 40,000 / 50 = 0.00025 BTC Maintenance MarginThe maintenance margin is the minimum amount of margin a trader needs to keep a position open. The maintenance margin will increase or decrease based on the risk limit chosen by the trader. By default, the risk limit for all trading pairs will start from the lowest maintenance margin in their respective <a href="https://www.bydfi.com/en/swap-info?page=5&type=usdt" target="_blank">risk limit tables</a>. When the margin level used for a position is lower than the maintenance margin level, the position will be liquidated. Position Value = Contract Quantity * Entry PriceMaintenance Margin = Maintenance Margin Rate * Position Value - <a href="https://www.bydfi.com/en/swap-info?page=5&type=usdt" target="_blank">MMQC</a>The required Maintenance Margin Rate (MMR) for a position is based on the margin level requirement for the value of the position. Example:FIBO opened a long position of 500 BTCUSD contracts at 40,000 USD with 50X leverage in isolated mode.Initial Margin = 500 / 40,000 / 50 = 0.00025 BTCMaintenance Margin = 0.005 * 0.00025 = 0.00000125 BTC This means that the position's maximum loss is 0.00024875 BTC (0.00025 BTC - 0.00000125 BTC); otherwise, it will be forced to liquidate.

Initial Margin and Maintenance Margin (COIN-M)

Initial & Maintenance Margin (COIN-M)｜BYDFi Help Center

<img src="https://uploads.bydfi.in/events/cms1736162424272cagpwi7ZjxIW.png" alt="image.png" data-href="" style="width: 100%;"/>Isolated ModeWhen the position margin ratio reaches 100%, the position will be triggered liquidation with a liquidation transaction fee and a liquidation clearance fee. Please note that the position is triggered by the margin ratio, liquidation price is for reference only. Cross ModeWhen the position margin ratio reaches 100%, the position will be triggered liquidation with a liquidation transaction fee and a liquidation clearance fee. Please note that the position is triggered by the margin ratio, liquidation price is for reference only. In addition, all the cross mode positions share the same margin, so as long as one cross mode position triggers liquidation, all the cross mode positions will be closed regardless of whether they are profitable or not. Example: FIBO holds a 1.5 million BTCUSDT long position + 1 million BTCUSDT long limit order.When the position margin ratio ≥100%, the system will first cancel the 1 million BTCUSDT limit order. This releases a portion of the margin to increase the available balance in an attempt to meet the maintenance margin requirement. If the position is still not margined to the maintenance margin requirement after the limit order is canceled, the liquidation engine will take over the position. The specific liquidation process is as follows:<ul><li>Cross Mode: Cancel all pending orders (including all pending orders in Isolated Mode)</li><li>Isolated Mode: Cancel all pending orders including TP/SL orders for the specified trading pair (other trading pairs are not affected)</li><li>If the margin maintenance requirement is not met at this point, the position will be taken over by the liquidation engine at the bankruptcy price.</li></ul>When the liquidation is executed at the bankruptcy price, the following scenario occurs:<ul><li>If the position can be executed in the market at a price better than the bankruptcy price, the liquidation clearance fee will be added to the insurance fund.</li><li>If the position cannot be executed at a price better than the bankruptcy price, the breakout loss will be covered by the insurance fund.</li></ul>Automated Negative Balance ClearanceIf a trader’s account balance is negative due to one or more Bankrupt Positions, BYDFi will use the Futures Insurance Fund to automatically cover the deficit in the trader's account and absorb the losses, to the extent possible. For user accounts that meet the following requirements, our system will automatic clearing of negative balances will occur every 10 minutes:<ul><li>For negative balances in USDT-M accounts, there are no open positions in the account. (Both Cross / Isolated Mode)</li><li>For negative balances in Coin-M accounts, there are no open positions in the account. (Both Cross / Isolated Mode)</li><li>The user did not transfer any funds to deficit losses in the account after liquidation.</li></ul>Note:<ul><li>Isolated Margin Ratio = (Maintenance Margin + Closing Fee) / (Position Margin + Unrealized PNL) * 100%</li><li>Cross Margin Ratio = (Maintenance Margin + Closing Fee) / (Wallet Balance + Bonus Balance - Isolated Frozen Margin + Cross Margin Unrealized PNL) * 100%</li><li>Isolated Margin Liquidation Clearance Fee≈ Position Margin + Liquidation PNL - Liquidation Transaction Fee</li><li>Cross Margin Liquidation Clearance Fee ≈ Wallet Balance + Liquidation PNL - Liquidation Transaction Fee</li><li>Liquidation Transaction Fee = Position Value * Quantity * Mark Price * Liquidation Transaction Fee Rate</li></ul> Risk Control PolicyWhen the margin balance is insufficient, we will send a margin call and a liquidation notice to the user by email. This feature serves as a risk alert that cannot be guaranteed to be sent or delivered in a timely manner. Under certain circumstances (including due to network congestion and poor network conditions), you may be unable or delayed in receiving email alerts during your use of the service, and BYDFi reserves the right to send notifications without obligation. To prevent excessive market risk concentration and manipulation, BYDFi limits individual users' position size. Orders exceeding these limits will be rejected. Additionally, we strictly prohibit users from circumventing position limits through any means, such as multiple accounts, identity masking, third-party account control, or exploiting system vulnerabilities, to maintain market fairness.

The Process of Forced Liquidation (USDT-M)

Forced Liquidation Process (USDT-M)｜BYDFi Help Center

The BYDFi Profit and Loss (PNL) Analysis feature provides a detailed breakdown of your Spot and Futures (Perpetual Contracts) performance.With interactive charts and auto-calculated PNL data, traders can easily track their profitability trends, asset changes, and performance metrics — all from within the BYDFi App. <h2>📱 How to Access PNL Analysis</h2><h3>1. Open the Assets Page</h3><ul><li>Log in to your BYDFi App.</li><li>Tap Assets at the bottom menu to open your account overview.</li></ul><img src="https://uploads.bydfi.in/events/cms/BYD.1760580881624.image.png" alt="BYD.1760580881624.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1760580881624.image.png" style="width: 50%;"/><h3>2. Access PNL Analysis</h3>In the top-left corner, tap PNL to enter the analysis dashboard.<img src="https://uploads.bydfi.in/events/cms/BYD.1760580910672.image.png" alt="BYD.1760580910672.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1760580910672.image.png" style="width: 50%;"/><h2>📈 Feature Descriptions</h2><h3>Spot Trading PNL</h3><ul><li>View 7-day, 30-day, and 90-day profit trends.</li><li>Analyze asset growth charts and daily net changes.</li><li>Identify consistent trading performance or drawdowns.</li></ul><img src="https://uploads.bydfi.in/events/cms/BYD.1760581075676.image.png" alt="BYD.1760581075676.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1760581075676.image.png" style="width: 50%;"/><h3>Futures (Perpetual Contracts) PNL</h3><ul><li>Check both PNL Data and PNL History to evaluate performance over time.</li><li>Understand realized and unrealized profit and loss for each position.</li><li>Includes funding fees and trading fees for accurate tracking.</li></ul><img src="https://uploads.bydfi.in/events/cms/BYD.1760581047769.image.png" alt="BYD.1760581047769.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1760581047769.image.png" style="width: 50%;"/><h2>🧮 PNL Calculation Formulas</h2><h3>7-Day PNL Calculation</h3>Formula:<blockquote>Current Total Account Assets − Total Assets Six Days Ago at Midnight (SGT) − Assets Transferred During the Period</blockquote><h3>7-Day PNL Rate Calculation</h3>Formula:<blockquote>(7-Day PNL ÷ [Total Assets Six Days Ago at Midnight (SGT) + Assets Transferred During the Period]) × 100%</blockquote>👉 Additional formulas and calculations can be viewed directly within the App.<img src="https://uploads.bydfi.in/events/cms/BYD.1760581517267.image.png" alt="BYD.1760581517267.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1760581517267.image.png" style="width: 50%;"/><h2>💰 Profit Sharing and Timeframe Selection</h2>The BYDFi App allows users to view profit distribution and rankings by:<ul><li>Today</li><li>7 Days</li><li>30 Days</li></ul>This helps traders identify short-term and long-term performance patterns.<img src="https://uploads.bydfi.in/events/cms/BYD.1760581363894.image.png" alt="BYD.1760581363894.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1760581363894.image.png" style="width: 50%;"/><h2>⚠️ Important Notes</h2><ul><li>The PNL table updates every hour, ensuring near real-time accuracy.</li><li>PNL rankings refresh every 10 minutes, with no user-specific filters.</li><li>Total PNL data includes funding fees and transaction fees for comprehensive tracking.</li></ul>

BYDFi Profit and Loss Analysis (APP)

BYDFi Profit & Loss Analysis (APP)｜BYDFi Help Center

<img src="https://uploads.bydfi.in/events/cms17361624003555thABVCJESPY.png" alt="image.png" data-href="" style="width: 100%;"/>What is the USDT-M Perpetual Contract? <a href="https://www.bydfi.com/en/swap/btc-usdt" target="_blank">The USDT-M Perpetual Contract,</a> also called a forward contract, is often referred to as a USDT-margined contract. What are the differences between USDT-M and COIN-M Perpetual Contracts?Intuitive Margin and P&L Calculation: In USDT-M Perpetual Contracts, both margin and profit/loss (P&L) are calculated in USDT, providing an intuitive experience. For example, in a 1 BTC contract, a 100 USDT price fluctuation results in a gain or loss of 100 USDT. The P&L directly follows the USDT value curve.Stability of Margin: COIN-M Perpetual Contracts are coin-margined, so traders must hold more volatile assets like BTC, ETH, EOS, or XRP as margin, exposing them to coin-holding risks even if they don’t actively trade. In contrast, USDT-M Perpetual Contracts use stablecoin as margin, reducing exposure to currency volatility and eliminating the need for hedging against coin-holding risks. How much leverage does the USDT-M Perpetual Contract support?The maximum leverage of each trading pair is different; please refer to <a href="https://www.bydfi.com/en/swap-info?page=4&type=usdt" target="_blank">USDT-M Perpetual Contracts Trading Rules</a><a href="https://support.bityard.com/hc/en-us/articles/5657651686297-USDT-Pepetual-Contract-Trading-Rules" target="">.</a> Can I hold long side and short side positions at the same time?Yes, users can use "Hedge" mode to hold both side positions at the same time. Can the cross-margin mode and isolated margin mode of the USDT-M Perpetual Contract be switched in real time?BYDFi supports switching between the isolated/cross modes when there are no holding positions.When there is an open position or a limit order, switching between the isolated/cross modes is not supported. What is the Risk Limit? BYDFi implements a tiered margin system, with different levels based on the value of user positions. The larger the position, the lower the leverage allowed, and the initial margin rate is higher when opening a position. The larger the value of the contract held by the trader, the lower the maximum leverage that can be used. Each contract has a specific maintenance margin rate, and margin requirements increase or decrease as risk limits change. Can the unrealized Profit be used to open positions? Yes, in cross-margin mode, unrealized profit can be used to open new positions, enhancing capital efficiency. Is the insurance pool for USDT-M Perpetual Contracts shared or currency-independent? Unlike COIN-M Perpetual Contracts that use the currency standard for settlement, USDT-M Perpetual Contracts are all settled in USDT. The <a href="https://www.bydfi.com/en/swap-info?page=2&type=usdt" target="_blank">insurance pool </a>of USDT-M Perpetual Contracts is also shared by all contracts.

USDT-M Perpetual Contracts FAQ

USDT-M Perpetual Contracts FAQ｜BYDFi Help Center

<img src="https://uploads.bydfi.in/events/cms1736162404461gV60heGLJOPU.png" alt="image.png" data-href="" style="width: 100%;"/>Insurance fund is a mechanism used to protect the overall operation of an exchange and the interests of traders. When there are severe market fluctuations or systemic risks, the insurance fund is used to make up for any losses in order to ensure that the exchange can continue to operate and protect the rights of traders. The insurance fund can provide additional security measures, alleviating the impact of extreme market conditions or other adverse events on traders. Mechanism of Insurance FundLiquidation may lead to an increase or decrease in the insurance fund, depending on the price difference between the bankruptcy price and the execution price. Increase in the insurance fund: If the execution price is better than the bankruptcy price, the remaining margin will be added to the insurance fund. Decrease in the insurance fund: If the bankruptcy price is better than the execution price, the additional loss will be subsidized by the insurance fund. Insurance Fund BalanceThe BYDFi insurance fund is publicly available to all users on the platform. You can click on the top right corner of the trading page to view the balance of the insurance fund.<a href="https://www.bydfi.com/en/swap-info?page=2&type=usdt" target="">View the latest balance of the USDT insurance fund</a><a href="https://www.bydfi.com/en/swap-info?page=2&type=undefined" target="">View the latest balance of the coin-based insurance fund</a> Note: If the insurance fund cannot make up for the price difference between the execution price and the bankruptcy price, the loss will be taken over by the automatic liquidation system and shared by all platform users. The insurance fund pool is shared among the USDT perpetual trading pairs.

Insurance Fund

Insurance Fund｜BYDFi Help Center

<img src="https://uploads.bydfi.in/events/cms17361624017417iR5h2OpfoFi.png" alt="image.png" data-href="" style="width: 100%;"/>When trading contracts on BYDFi, orders may be canceled or fail to be executed. Below are the common types of order cancellations and their reasons: <h3>1. User Manually Canceled the Order</h3>Reason: The order is canceled by the user.Scenario: When a user places a limit or conditional order, they may manually cancel it before the expected trigger price is reached. For example, User A predicts that the price of BTC will continue to fall and places a limit buy order at $60,000. However, after waiting for a long time without reaching the preset price, the user cancels the order to free up funds and improve trading efficiency. <h3>2. Unfulfilled Portions of IOC Orders Are Automatically Canceled</h3>Reason: The unfulfilled portions of the IOC order are automatically canceled.Scenario: IOC (Immediate or Cancel) orders will be executed immediately, either fully or partially, at the existing price and quantity. If only partially executed, the unfulfilled portion of the order will be canceled. If there is no available quantity at the chosen price when you place the order, the order will be canceled immediately. <h3>3. PostOnly Order Conditions Not Met, Resulting in Cancellation (Will Release Soon)</h3>Reason: PostOnly order conditions were not successfully triggered, resulting in cancellation.Scenario: This situation occurs when a user places a limit order and selects the "PostOnly" option. Such orders do not immediately execute in the market; they exist as Maker orders in the order book but do not match with existing orders. When executing an order as a Maker, the user only pays the Maker fee and does not incur the Taker fee. If the order is executed immediately upon placing it, the PostOnly order will be automatically canceled. For example, if a user places a buy order at a price higher than the market price, the system will automatically cancel the PostOnly order at the time of placement. <h3>4. Market Order Has No Matching Counterparty Order</h3>Reason: Market order has no matching counterparty order. Scenario: When a user selects a "market" order type, it is possible that due to extreme market volatility, there are no matching orders in the current order book to execute the trade. As a result, the original "market" order will be canceled. <h3>5. Position Taken Over by Liquidation Engine</h3>Reason: All current orders for the contract will be canceled after the position is taken over for liquidation. Scenario: When the margin of a position cannot meet the maintenance margin requirement, the position will be taken over by the liquidation engine and forcibly liquidated. At the same time, all current orders for the position will be automatically canceled, including take profit/stop loss orders, limit orders, etc. <h3>6. If There Is No Open Position, the Close Order Will Be Canceled</h3>Reason: The close order will be canceled when there is no open position. Scenario: If a user places a close order and the original open position is liquidated, the close order will be automatically canceled. <h3>7. Batch Cancellation of Take Profit and Stop Loss Orders During Forced Liquidation</h3>Reason: Batch cancellation of take profit and stop loss orders during forced liquidation. Scenario: After a position is forcibly liquidated, take profit and stop loss orders will be canceled. <h3>8. No Matching Counterparty Order Within Price Protection Range</h3>Reason: No matching counterparty order within the 5% price protection range Scenario: BYDFi contracts have a 5% price protection mechanism, meaning that the price of buy orders cannot exceed the price = mark price + mark price x 5%, and the price of sell orders cannot exceed the price = mark price - mark price x 5%. If the order price exceeds this range, the order will be canceled. This mechanism effectively reduces position risk in a complex market environment. <h3>9. Conditional Order Canceled Due to Insufficient Margin</h3>Reason: When a conditional order is triggered and generates an active order, it will be automatically canceled if there is insufficient order margin. Scenario: A "conditional" order can help set take profit/stop loss. When the market price reaches the specified trigger price, the order will be activated and enter the market as a limit order or a market order. It should be noted that if the available balance in the user's contract account is insufficient to cover the position margin when the conditional order is triggered, the conditional order will be canceled by the system. <h3>10. Unfulfilled Orders Canceled When Reducing Position with Insufficient Execution Quantity</h3>Reason: When reducing a position, if the final executed position quantity is insufficient, the remaining unfulfilled orders will be canceled. Scenario: When holding a position, if a user places a reduction order but the final executed position quantity is insufficient, the remaining unfulfilled orders will be canceled. For example, if User A currently holds 5 long positions and places an order to reduce 3 short positions, but later closes 4 positions, leaving 1 long positions remaining, the original order to reduce 3 short positions will be canceled. <h3>11. Order Cancellation Triggered by Zero Position Quantity or Direction Change</h3>Reason: Order cancellation is triggered when the position quantity becomes zero or the position direction changes. Scenario: This means that if the current position is closed or the user submits a reduction order for the contract that exceeds the current position quantity, causing the position direction to reverse, the active take profit/stop loss orders or the take profit/stop loss orders on the position will be canceled. <h3>12. Order Cancellation Due to Discrepancy Detected by Matching Engine</h3>Reason: The matching engine detects a discrepancy between zero frozen orders and position quantity, resulting in order cancellation. Scenario: A trader holds a long position of 20 contracts and places a reverse order to sell 25 contracts. The matching engine, upon receiving the reverse order, checks for consistency between the zero frozen orders and the current position quantity. Meanwhile, the trader executes another trade that closes 15 of the original 20 long contracts. The matching engine detects a discrepancy as the position quantity has changed. Since the number of zero frozen orders (20) no longer matches the remaining position quantity (5), the matching engine cancels the portion of the reverse order that exceeds the updated position quantity, resulting in an automatic cancellation of 15 contracts from the reverse order. <h3>13. FOK Order Not Filled and Automatically Canceled</h3>Reason: FOK order was not immediately filled and was automatically canceled.Scenario: A trader places a Fill-or-Kill (FOK) order to buy 10 BTC at a specific price. The FOK order requires that the entire order quantity be filled immediately; otherwise, it will be canceled. Upon submission, the market does not have enough BTC available at the specified price to fulfill the entire order. As a result, the FOK order is not immediately filled and is automatically canceled by the system.

Why Was My Order Canceled?

Why Was My Order Canceled?｜BYDFi Help Center

Icon Definitions

<img src="https://uploads.bydfi.in/events/cms/BYD.1747362622890.image.png" alt="BYD.1747362622890.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1747362622890.image.png" style="width: 100%;"/>What Is P2P Trading?P2P trading refers to a peer-to-peer market where users directly engage in digital asset transactions with each other. Digital assets include USDT, BTC, and other cryptocurrencies, etc. Who Is Eligible to Trade in the BYDFi P2P Market?Users who have completed binding their email and mobile number and completed KYC. (Unavailable in Certain Regions) What Is an Advertisement?An advertisement is a way for P2P users to display their trading needs. Ads will include the ad type (buy or sell), the cryptocurrency assets the user wishes to trade, the fiat currency used in the ad, the total amount of cryptocurrency to buy or sell, price, order limit, payment deadline, preferred payment methods, etc. Am I Trading Directly with BYDFi?No. You are trading with other certified BYDFi users on the P2P market. To protect your assets, BYDFi will temporarily hold the digital assets until the seller receives payment confirmation. Does Using the BYDFi P2P Platform Incur a Service Fee?There is no service fee for BYDFi P2P transactions. When buying digital assets from other users in the market, you make offline payments using your own set payment methods. Depending on your payment method, transaction fees may be incurred during payment. You can check if your payment method incurs any transaction fees. What Is the Release Time?After the buyer completes the payment, the seller must release the cryptocurrency within the release time. If the cryptocurrency is still not released after the release time has ended, a BYDFi specialist will follow up on the transaction status. You can click on the username to enter their profile and view the average release time. The average release time indicates the length of time a user typically takes to release cryptocurrency after the buyer completes payment. Disclaimer: Your use of P2P on BYDFi, including the P2P service itself and all information and other content (including third-party content) accessible through it, is at your own risk. Our sole responsibility is to process cryptocurrency transactions. All payments are final upon completion, unless otherwise specified by law. BYDFi has no right or obligation to resolve any disputes arising from completed payment transactions. BYDFi or merchants are not responsible for any losses incurred in completed payment transactions.

P2P Introduction and Terminology Explanation

<img src="https://uploads.bydfi.in/events/cmsBYD.1738659127868.telegram-cloud-photo-size-5-6129514516258603366-y.jpg" alt="BYD.1738659127868.telegram-cloud-photo-size-5-6129514516258603366-y.jpg" data-href="https://uploads.bydfi.in/events/cmsBYD.1738659127868.telegram-cloud-photo-size-5-6129514516258603366-y.jpg" style="width: 100%;"/>P2P (peer-to-peer) transactions are trades carried out directly between two users. After the buyer and seller match on <a href="http://bydfi.com/" target="_blank">bydfi.com</a> (the "Platform"), the parties shall verify their identities through real-name authentication.Your use of BYDFi P2P trading services and all information, materials, and other content (including that of third parties) included in or accessible from BYDFi P2P trading services are solely at your own risk. BYDFi is only responsible for the digital asset transaction process on the Platform. All payments are final upon completion unless otherwise required by law. BYDFi has neither the right nor obligation to resolve any dispute or claim arising from a completed payment. BYDFi shall not be liable for any loss that may result in or arise from a completed payment.Buyer/seller may directly contact you to verify your identity or obtain additional information to verify the transaction and/or payment. Buyer/seller can ask for additional verification, but the counterparty isn't obligated to do so. If the taker doesn't agree to do additional verification with the counterparty, the transaction should be canceled by the taker. Any communications between you and the buyer/seller aren't controlled or managed by BYDFi. BYDFi shall not be responsible for any loss you may incur arising or resulting from any such communications between you and the buyer/seller.Third parties, such as verification service providers, escrow agents, payment providers, custodians, and/or banking partners, may be involved in any BYDFi P2P trading services transactions. You may be subject to the terms and conditions of these third parties. BYDFi shall not be responsible for any loss arising or resulting from any third party.If there are discrepancies between the English version of this disclaimer, any user agreements, terms, communications and the translations of such disclaimer, any user agreements, terms and communications in any foreign language, the English version shall prevail.

Disclaimer for P2P Trading Services

P2P (Peer-to-Peer) service on BYDFi enables users to buy and sell cryptocurrencies directly with one another, without intermediaries. 1. Login to your BYDFi account and navigate to "Buy Crypto"<img src="https://uploads.bydfi.in/events/cms/BYD.1744691216922.image.png" alt="BYD.1744691216922.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744691216922.image.png" style="width: 50%;"/> 2. Click on "P2P"<img src="https://uploads.bydfi.in/events/cms/BYD.1744691264015.image.png" alt="BYD.1744691264015.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744691264015.image.png" style="width: 50%;"/>3. Select or search for the fiat currency you would like to use as paymentThe fiat currencies currently supported are as follow:CAD, HKD, IDR, PHP, USD and VND<img src="https://uploads.bydfi.in/events/cms/BYD.1744691362583.image.png" alt="BYD.1744691362583.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744691362583.image.png" style="width: 50%;"/>4. Select or search for the crypto you would like to buyThe cryptocurrencies currently supported are as follow: BTC, ETH, USDT and XRP<img src="https://uploads.bydfi.in/events/cms/BYD.1744691417468.image.png" alt="BYD.1744691417468.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744691417468.image.png" style="width: 50%;"/>5. Select a tradable merchant for purchase<img src="https://uploads.bydfi.in/events/cms/BYD.1744691470399.image.png" alt="BYD.1744691470399.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744691470399.image.png" style="width: 50%;"/>6. &nbsp;Fill in the required digital assets by amount or quantity (pay attention to the "payment method" required by the merchant), and click "0 fees Buy USDT"<img src="https://uploads.bydfi.in/events/cms/BYD.1744691516209.image.png" alt="BYD.1744691516209.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744691516209.image.png" style="width: 50%;"/>Once the order is created, complete the payment using the method provided by the merchant. After successfully making the payment, click "I Have Paid." The merchant will release the cryptocurrency once the payment is confirmed. Disclaimer: Your use of P2P on BYDFi, including the P2P service itself and all information and other content (including third-party content) accessible through it, is at your own risk. Our sole responsibility is to process cryptocurrency transactions. All payments are final upon completion, unless otherwise specified by law. BYDFi has no right or obligation to resolve any disputes arising from completed payment transactions. BYDFi or merchants are not responsible for any losses incurred in completed payment transactions.

How to Buy Crypto via P2P? (APP)

<html>
 <head></head>
 <body>
 <h2>Introduction</h2>
 This Privacy Policy outlines how BYDFi Web3 (MoonX) collects, uses, shares, and protects user data when using our Web3 services. BYDFi Web3 (MoonX) utilizes Multi-Party Computation (MPC) technology provided by a third-party service provider to enhance security and protect user access.
 By accessing or using BYDFi Web3 (MoonX) Services, you acknowledge and consent to the data practices described in this policy. If you do not agree with this policy, please discontinue the use of our services.
 
 <h2>Data Collection</h2>
 <h3>Types of Data Collected</h3>
 BYDFi Web3 (MoonX) may collect the following types of data:
 <ul>
 <li>Personal Information: Email addresses, IP addresses, and contact details (if applicable).</li>
 <li>Technical Data: Device identifiers, browser types, operating systems, and security authentication data.</li>
 <li>Transaction Data: Wallet addresses, transaction histories, and blockchain interactions.</li>
 <li>MPC Key Management Data: Data necessary for identity verification, device authentication, and key shard management for MPC-based wallet access.</li>
 </ul>
 <h3>Purpose of Data Collection</h3>
 We collect data to:
 <ul>
 <li>Provide and enhance Web3 Services, including MPC-based wallet security.</li>
 <li>Ensure security and compliance with regulatory requirements, including AML (Anti-Money Laundering).</li>
 <li>Optimize user experience through analytics and feedback.</li>
 <li>Facilitate wallet recovery processes via MPC service providers, ensuring users can regain access without storing full private keys.</li>
 </ul>
 
 <h2>Data Usage</h2>
 <h3>How We Use Your Data</h3>
 <ul>
 <li>Service Delivery: Enable transactions, secure wallet access, and provide technical support.</li>
 <li>Compliance: Meet legal obligations, including responding to regulatory inquiries.</li>
 <li>Security: Ensure private key shard distribution and authentication through MPC.</li>
 <li>Analytics: Improve functionality, performance, and security of BYDFi Web3 (MoonX) Services.</li>
 </ul>
 <h3>Marketing</h3>
 We do not use your data for direct marketing unless you explicitly consent.
 
 <h2>Data Sharing</h2>
 <h3>Third-Party Service Providers</h3>
 To provide a secure MPC-based Web3 wallet, we may share limited necessary data with trusted third-party providers, including:
 <ul>
 <li>MPC Key Management Provider: Secure private key shards, enable authentication, and facilitate recovery processes.</li>
 <li>Blockchain Transaction Processing: Enable transactions on decentralized networks.</li>
 <li>Cloud Storage &amp; Data Analytics: Enhance platform security and performance.</li>
 </ul>
 <blockquote>
 
 
 &nbsp; &nbsp; &nbsp;Note: BYDFi Web3 (MoonX) does not store or control private keys. MPC key shards are distributed and stored by our third-party provider, which follows industry security standards (e.g., SOC 2, ISO 27001).
 
 &nbsp; 
 
 </blockquote>
 <h3>Legal Compliance</h3>
 We may disclose data when required by law, including:
 <ul>
 <li>Responding to regulatory or legal processes.</li>
 <li>Enforcing agreements and investigating potential violations.</li>
 <li>Protecting the rights and safety of BYDFi Web3 (MoonX) users and the platform.</li>
 </ul>
 <h3>Restrictions</h3>
 BYDFi Web3 (MoonX) does not sell, lease, or trade user data to third parties under any circumstances.
 
 <h2>Data Security</h2>
 <h3>Security Measures</h3>
 We implement industry-standard security measures, including:
 <ul>
 <li>MPC Encryption: Private keys are never stored in full but are distributed via MPC for enhanced security.</li>
 <li>Regular Security Audits: We conduct audits to detect and mitigate potential risks.</li>
 <li>Access Control &amp; Monitoring: We enforce strict security policies to prevent unauthorized access.</li>
 </ul>
 <h3>Limitations</h3>
 While we strive to protect user data, no system is entirely immune to security risks. BYDFi Web3 (MoonX) disclaims liability for unauthorized access, data breaches, or cyberattacks that may result from third-party service provider vulnerabilities.
 
 <h2>User Rights</h2>
 <h3>Access and Correction</h3>
 Users can access and request corrections to their personal data through our support channels.
 <h3>Data Portability</h3>
 Upon request, we provide a copy of your personal data in a commonly used electronic format.
 <h3>Data Deletion</h3>
 Users may request the deletion of personal data, subject to legal and operational requirements. However, certain data (e.g., blockchain transaction records) cannot be deleted or modified due to the decentralized nature of blockchain networks.
 <h3>Retention Policy</h3>
 We retain user data only for as long as necessary to:
 <ul>
 <li>Maintain secure access to MPC-managed wallet services.</li>
 <li>Comply with legal and regulatory requirements.</li>
 <li>Ensure security and prevent fraud.</li>
 </ul>
 Data that is no longer required will be securely deleted or anonymized.
 
 <h2>MPC Service Provider Responsibilities</h2>
 Since BYDFi Web3 (MoonX) does not store full private keys, we rely on a third-party MPC provider to facilitate key management.
 <ul>
 <li>MPC Provider Data Protection: Our third-party provider follows industry security certifications (e.g., SOC 2 Type II, ISO 27001).</li>
 <li>Data Handling Responsibility: BYDFi Web3 (MoonX) is responsible only for the data it directly collects and processes. The MPC provider independently manages private key security and may have its own privacy policy regarding key shard storage and recovery processes.</li>
 <li>User Responsibility: Users acknowledge that BYDFi Web3 (MoonX) is not responsible for security breaches or data misuse by third-party providers.</li>
 </ul>
 
 <h2>Policy Updates</h2>
 <h3>Notification</h3>
 This Privacy Policy may be updated periodically. Changes will be communicated through our official website.
 <h3>User Acknowledgment</h3>
 Continued use of BYDFi Web3 (MoonX) Services constitutes acceptance of updated policies.
 
 <h2>Contact Information</h2>
 For inquiries or concerns regarding this Privacy Policy, please contact us at: <a href="mailto:cs@bydfi.com" target="">cs@bydfi.com</a>
 </body>
</html>

BYDFi Web3 Privacy Policy

P2P (Peer-to-Peer) service on BYDFi enables users to buy and sell cryptocurrencies directly with one another, without intermediaries. 1. Click "Buy Crypto" → "P2P"<img src="https://uploads.bydfi.in/events/cms/BYD.1744687648185.image.png" alt="BYD.1744687648185.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744687648185.image.png" style="width: 100%;"/> 2. Select or search for the fiat currency you would like to use as payment The fiat currencies currently supported are as follow: CAD, HKD, IDR, PHP, USD and VND<img src="https://uploads.bydfi.in/events/cms/BYD.1744687780986.image.png" alt="BYD.1744687780986.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744687780986.image.png" style="width: 100%;"/>3. Select or search for the crypto you would like to buy The cryptocurrencies currently supported are as follow: BTC, ETH, USDT and XRP<img src="https://uploads.bydfi.in/events/cms/BYD.1744687901694.image.png" alt="BYD.1744687901694.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744687901694.image.png" style="width: 100%;"/> 4. Select a tradable merchant for purchase<img src="https://uploads.bydfi.in/events/cms/BYD.1744687945803.image.png" alt="BYD.1744687945803.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744687945803.image.png" style="width: 100%;"/> 5. Enter the fiat currency amount you would like to pay ( pay attention to the "payment method" required by the merchant ), and click "0 Fee Buy USDT"<img src="https://uploads.bydfi.in/events/cms/BYD.1744688060577.image.png" alt="BYD.1744688060577.image.png" data-href="https://uploads.bydfi.in/events/cms/BYD.1744688060577.image.png" style="width: 100%;"/> Once the order is created, complete the payment using the method provided by the merchant. After successfully making the payment, click "I Have Paid." The merchant will release the cryptocurrency once the payment is confirmed. If you need further assistance, don’t hesitate to <a href="mailto:cs@bydfi.com" target="_blank">contact the BYDFi support team</a>! Disclaimer: Your use of P2P on BYDFi, including the P2P service itself and all information and other content (including third-party content) accessible through it, is at your own risk. Our sole responsibility is to process cryptocurrency transactions. All payments are final upon completion, unless otherwise specified by law. BYDFi has no right or obligation to resolve any disputes arising from completed payment transactions. BYDFi or merchants are not responsible for any losses incurred in completed payment transactions.

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