Futures

Exchange of USDT for USDT-M positions in multi-asset mode

2024-09-05 06:214898
This document outlines how Bitget exchanges non-USDT coins to USDT in a fast and cost-efficient manner for USDT-M positions in multi-asset mode to mitigate trading risks.
Three scenarios:
1. Switching from multi-asset mode to single-asset mode: If a user has insufficient USDT, they can exchange other coins in their USDT- m futures account for USDT.
2. Debt exceeds individual debt limit: When this occurs, risk control will be triggered, and other coins will be exchanged for USDT to repay the debt.
3. Risk of liquidation or partial liquidation: In such cases, other coins will be exchanged for USDT to repay the debt and reduce the risk.
An exchange rate will be applied during the exchange. The amount after exchange = quantity of coins exchanged × index price of the coin × exchange rate. The exchange rate is tiered, meaning the larger the amount, the lower the exchange rate.
Note: In the event of liquidation or partial liquidation, the exchange rate is determined by the exchange rate tier corresponding to the total value of the coin in the user's account.
Disclaimer
Cryptocurrencies are subject to high market risk and volatility despite high growth potential. Users should conduct their own research and invest at their own discretion. Bitget shall not be liable for any investment losses.