What is the fee structure in Coinlocally Futures Trading?
At Coinlocally Futures, if you provide liquidity to the books, then you are a ‘Maker’ and will be charged at 0.030%. However, if you take liquidity, then you are a ‘Taker’ and will be charged 0.050% on your trades.
How is the liquidation price calculated?
Coinlocally try to provides best accessibility and features for traders in all around the world. Liquidation happens when your account balance falls below the required maintenance margin while holding a leveraged position. When this occurs, the system will automatically close your position to prevent further losses. You can find Liquidation Price easily on your position in [Trade History] tab.
Important Note:
- Liquidation refers to an event when the Mark Price reaches the liquidation price, and the position is closed at the Bankruptcy Price. This also means that the Position Margin balance falls below the required Maintenance Margin level. The liquidation price displayed on the order page is for reference only. The actual liquidation price will be affected by market fluctuations and other factors. The final liquidation price is subject to the actual price the platform charges. Please note that price differences may lead to asset losses when liquidation happens.
- Coinlocally uses mark price to avoid liquidation caused by low liquidity or market manipulation.
- When traders have insufficient available balance to cover the funding fees, the funding fees will be deducted from the position margin. Therefore, the decrease in position margin will then move the Liquidation Price nearer to the Mark Price, making the position more prone to be liquidated.
Why Was My Position Liquidated Despite Having a Stop Loss?
The main reason is likely caused by the traders' selection of a different triggering price to trigger the stop loss:
- Liquidation is triggered by Mark Price on Coinlocally.
- On the other hand, Traders are given the option to select the triggering price (The default option is Last Traded Price) for their stop loss.
- It is entirely possible for the Mark Price to trigger the position's liquidation price first before the Last Traded Price can trigger the stop loss.
Therefore, depending on trading strategies, Coinlocally traders are given the option to select the type of triggering price to trigger their stop loss.
Why Can’t the TP/SL Orders Close the Positions at the Given Prices?
On Coinlocally Futures, TP/SL orders can be set up as limit orders and stop market orders. Both types of orders are triggered when the stop condition has been satisfied. But the filled price of market orders fully depends on the market liquidity and depth because they represent a quick buy or sell action.
- There are two types of trigger types for TP/SL orders: Mark Price and Last Price. The default trigger type is Mark Price, which means only if the Mark Price reaches the stop price the TP/SL order will be executed. The reason most TP/SL orders can’t be executed at a given price is due to the trigger type and the price users tracked being different.
- The trading rules of maximum market order quantity are one of the reasons that can also cause the TP/SL orders to expire.
- Market illiquidity can have a serious impact on TP/SL orders. Market orders may expire or be partially filled due to the Market Order Price Cap/Floor Ratio, which is prevalent in extremely illiquid market conditions. Once the Market Order Price Cap/Floor Ratio exceeds the threshold, any unfilled market orders will expire.
Why Was My Position Liquidated When the Candlestick Did Not Touch My Liquidation Price?
By default, the prices shown on the Coinlocally chart are the price history and movement of the platform's Last Traded Price (LTP). On the other hand, liquidation is triggered by the Mark Price but not the LTP (the price you see on the LTP charts, price figure on the right of the order book).
The liquidation engine will take over the liquidation process of your position only when the Mark price reaches the liquidation price of your position. As such, if a trader sets their Stop Loss to be triggered by LTP or index price very close to the liquidation price, it is possible for the Mark Price to hit their liquidation price first before the LTP/index price could trigger his stop loss.
For example, Trader A holds a Buy Long position with a liquidation price of 12,000 USDT and they set a Stop Loss at 12,030 USDT with LTP as the trigger price. If the Mark Price has already reached 12,000 USDT while the LTP is still at 12,050 USDT, then the liquidation is triggered.
Why Does Liquidation Occur Even When I Have Unrealized Profits?
A liquidation is triggered when Margin Balance = Wallet Balance + Unrealized PNL < Maintenance Margin.
All positions under Cross Margin Mode share the same Margin Balance. Therefore, if total unrealized losses erode Margin Balance to be lower than Maintenance Margin, this will still trigger a liquidation in the Cross Margin Mode Futures account even with portable positions.
Why Is My Closed P&L a Loss When My Unrealized Profit Was Positive?
In summary, it is due to the inclusion of trading fees and funding fees when calculating Closed P&L. Final P&L based on actual closing order exit price after deducting Trading Fees and Funding Fees.
How does leverage affect my ROI for a position?
ROI (Return of Investment) is calculated using the unrealized P&L of position in coins / initial margin of position.
When leverage is adjusted for a position the initial margin requirements will change while th position size (QTY) remains unchanged
- An increase in leverage will reduce the initial margin required
- A decrease in leverage will increase the initial margin required.
Thus, with the same unrealized P&L, the initial margin increases the ROI will be reduced while a reduction in the initial margin will increase the ROI, even though the actual unrealized P&L in coins is the same.
Why Was My Conditional Order Triggered but Not Executed?
A conditional order (like a stop-limit or stop-market order) is triggered when the market price reaches your specified trigger price — but it might not be executed for these common reasons:
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For Stop-Limit Orders:
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After your trigger price is hit, a limit order is placed at your set limit price.
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If the market price moves too quickly and doesn’t reach your limit price, the order will remain open and unfilled.
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Low Market Liquidity:
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If there aren’t enough buyers or sellers at your limit price, your order may not fill immediately or at all.
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Order Queue Priority:
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Orders are executed based on price and then time priority. If many orders exist at the same price level, your order waits in the queue.
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Price Gaps or Volatility:
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In fast-moving markets, prices can jump over your limit price without touching it, leaving your order unexecuted.
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Why Wasn’t the Stop-Limit Order Filled Even After the Stop-Price Order Was Triggered?
Stop-Limit orders are composed of two prices: the Stop-Price and Limit-Price.
When the Stop-Price is reached, a Limit order with the preset Limit Price will be placed into the market. Still, the limit order may not be fulfilled. Since the Limit order will be executed when the market price is at or better than the preset Limit price, the Limit order cannot be fulfilled if the market price is worse than the Limit Price after the Stop Limit order gets triggered.
Why Did the Stop-Limit Order Expire Even Though I Didn’t Cancel the Order?
On Coinlocally Futures, if the stop-limit orders are placed to reduce holding positions, these can expire when:
- The user places a new order to close the position
- Doesn’t pass the second margin check
- Doesn't have a position under reduced only
- When the position is liquidated.
The difference between the order status of Cancelled and Expired is that Canceled Orders are canceled manually by the user, while Expired Orders are canceled by the system based on the conditions mentioned above.
Why Does the Liquidation Price Change?
On Coinlocally Futures, changes in the wallet balance can affect the liquidation price. For instance, when a user has a position in USD-M Perpetual Futures, the settled funding fee could make the liquidation price favorable or unfavorable depending on the market conditions.
Why does my Limit order get filled immediately, whether I submit a Limit Buy or Limit Sell order?
If you trade with a Limit order, then you will use a pre-specified price to buy or sell the contract. The final execution price will not be higher than the pre-specified price if it is a buy, and not be lower if it is a sell. When you place a limit order, if the order is not matched immediately against an existing order on the order book, the order will stay in the orderbook and become a maker order. However, if the pre-specified price of a limit order is greater than or equal to the market sell price, or lower or equal to the market buy price, the order will be executed immediately and become a taker order. In this case, the order will be charged the taker fees.
If I use Futures and get liquidated, will I lose all the money in the Futures account too?
Coinlocally Futures adopts the isolated margin mode. In this mode, funds used for a certain position are a fixed amount, and any Available Balance you may have will not be used to add margin to your position. That is, the maximum funds you may lose is limited to this fixed amount. This is useful for a speculative position and traders may limit the risk in an easy way.
Why I received “Order Would Immediately Trigger” Error Message during Trading?
This error occurs when the order price that your strategy submits (for example in the case of a long trade) is above the current price which would cause a STOP order, but the moment that order reaches Coinlocally the price has changed and that order would get executed (or triggered as Coinlocally's error mentions) but unfortunately, Coinlocally's API decides to throw an error instead of executing the order as a MARKET order.
The error message shows “Order rejected due to order exceeding the maximum allowable quantity at current leverage level”. How to resolve this?
If you are in the Cross Margin Mode and the maximum leverage of your position is greater than the current maximum leverage, in order to partially close your position, please reduce the leverage below the current maximum. For example, if the current maximum leverage of a MASKUSDT position in the Cross Margin Mode is 20x and your leverage is 22x, please reduce the leverage to 20x.
If you are in the Isolated Margin Mode, you cannot reduce the leverage. You may choose to close all positions. If you want to partially close the positions, please check if there is any hedged open order and cancel the opposite open order before proceeding. For example, if you want to partially close a buy position for MASKUSDT and you have a hedged sell open order for MASKUSDT, please cancel the sell order first. You will then be able to partially close the buy position.
Why Did My Limit Order Get Executed Immediately?
- Buy Long Order = Order Price HIGHER than Best ASK Price (Prices that traders are willing to sell)
- Sell Short Order = Order Price LOWER than Best BID Price (Prices that traders are willing to buy)
- Did not select Post-Only function.
Does Adjusting Leverage Affects Your Unrealized P&L?
The answer is no. On Coinlocally, the main function of applying leverage is to determine the initial margin rate required to open your position, and selecting higher leverage does not directly amplify your profits.
Note:
- Position Quantity is the same regardless of leverage applied.
- Leverage determines the initial margin rate.
- Initial margin amount is calculated by taking position Quantity multiply by initial margin rate.
- The higher the leverage, the lower the initial margin rate and thus a lower initial margin amount.
Is it possible to open a Long and a Short position simultaneously?
As for now, Coinlocally Futures supports Hedge Mode, and it's allowed to open Long and Short positions on the same trading pair at the same time. Therefore, if you hold a long position, and the reverse order is traded at this time, the position will be reduced.
Does anyone know how and when the new coins will be added to Coinlocally Futures?
You can follow Coinlocally official channels to be notified when we list new coins to Coinlocally Futures. Also, you can check our announcements page for new listing coins and tokens.
Bankruptcy Price
Bankruptcy Price is a price level that indicates you have lost all your initial margin.
Upon liquidation, the liquidated position will be closed at the Bankruptcy Price, and this means that you have lost all your initial margin. If the liquidated position has its final liquidation price better than the bankruptcy price, the excess margin will be contributed to the Insurance Fund. Vice versa, if the liquidated position has its final liquidation price worse than the bankruptcy price, the Insurance fund will cover the loss gap.
Insurance Fund
In the event of liquidation, if the liquidated order is closed at a price worse than the bankruptcy price, Coinlocally will use the balance of the insurance fund to cover the gap. If the insurance fund is insufficient, ADL will be triggered.
Mechanism of the Insurance Fund
During liquidation, the balance of the insurance fund will increase/decrease depends on the price difference between the final executed price and its bankruptcy price of that liquidated position.
- When liquidations can be executed in the market at a price better than the bankruptcy price, the remaining margin will be added to the insurance fund.
- Vice versa, when the final executed price is worse than the bankruptcy price, the contract losses will be covered by the insurance fund.
Maintenance Margin
Maintenance Margin is the minimum margin required to continue holding a position.
It will increase or decrease according to the trader's selected risk limit. By default, all risk limits start at the lowest maintenance margin level inside each trading pair's risk limit table. Liquidation occurs when the isolated margin for the position is less than its maintenance margin level.
Risk Warning: Digital asset prices are subject to high market risk and price volatility. The value of your investment can go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Coinlocally is not liable for any losses you may incur. Past performance is not a reliable predictor of future performance. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice.