Two-Way Trade: Traders can buy to open (or open position), that is, start a trade by buying a contract; or sell to open, which means, start a trade by selling a contract.
Margin: This Margin refers to contract margin. It is the act of paying a certain percentage of the contract's value as performance bond to conduct a trade several times the margin.
Unrealized PNL: Profit and loss in the open positions, in this case, profit is not available.
Contract Size: The minimum value of a transaction, calculated according to "Contract", currently 1 CONTR (Contract) = 1 USD. The USDT Contract is calculated according to “Lot”, the lot size of each variety has its corresponding currency amount.
Tick Size: A tick size is the minimum price movement of a contract in the open outcry process of the exchange. In the transaction, each tick value must be an integral multiple of each one tick movement.
Maintenance Margin: It refers to the minimum amount needed to keep the position from getting liquidated.
Market Order:A market order is an order to buy or sell at the best available price and is normally executed on an immediate basis. It does not need to specify the price and the order is executed at the market price.
Opening Price: The opening price is the price at which a contract first trades upon the opening of a position.
Index Order： The index price tracks the spot price, which is taken from Binance, Huobi Pro and other top exchanges. It represents the overall price level of the market and is used as an indicator of profit and loss.
Limit Order:A limit order sets the maximum or minimum price at which willing to buy or sell. However, unlike market orders, the trade will only get executed when the price breaches the level that has been specified. After the setting the price limit, the market will give priority to the price in the favorable direction under the principle of “buy low and sell high”.
For example, the last transaction price of BTCUSDT is $12,000. If you want to buy at a cheaper price of $11,900, then you need to set the limit price at $11,900. When the price falls below or equals to $11,900, the buy order will be automatically executed. However, if you set the limit price at $12,100, according to the “buy low” principle, the order will be immediately traded at $12,000, cause $12,000 is more favorable to users than $12,100.
Trigger Order: Trigger order is a trading instruction with pre-defined parameters (trigger price and execution price) by a user. When the last traded price has reached the trigger price, 58COIN will send an order to the market at the execution price. Trigger order may not necessarily be executed.
Available Balance: Funds that can be used to open new positions and being transferred out, in which margin is excluded.
Equity: All of the user's assets, including available balance and margin.
Insurance Fund: 58COIN uses an Insurance Fund to avoid Auto-Deleveraging in traders' positions. The fund is used to aggress unfilled liquidation orders before they are taken over by the auto-deleveraging system. The Insurance Fund grows from liquidations that were able to be executed in the market at a price better than the bankruptcy price of that particular position.