Glossary of Futures Trading Terms

24h Data 24h Volume The total number of contracts traded in the past 24 hours.

24h High The highest market transaction price in the past 24 hours.

24h Low The lowest market transaction price in the past 24 hours.

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A API Application Programming Interface, used for data interaction and trading operations between user programs and the NewCoin system.

B BTCUSDT A BTC perpetual futures trading pair with USDT as the margin and settlement unit.

Insurance Fund Used to cover losses from liquidations to ensure system stability. The fund primarily comes from residual margin generated during liquidation settlements.

Quote Currency The currency unit (e.g., USDT) used for contract pricing, calculating contract value, position value, and profit/loss.

Post Only An additional option for limit orders that ensures the order only acts as a liquidity provider. If it would fill immediately, it is automatically canceled.

C Position Margin The total margin required to maintain a position, including initial margin and reserved closing fees.

Trigger Price The reference price used to activate conditional orders, take-profit/stop-loss orders, and other advanced order types.

Trigger to Close When trigger conditions are met, the system automatically submits a closing order to exit the current position.

D Order Execution Strategy Parameters defining order validity and execution rules, such as GTC, IOC, FOK, etc.

H Contract Value The nominal value of a position at a specific price.

Contract Quantity A unit measuring order or position size, calculated either by contract count (USDT) or asset amount.

Return on Investment (ROI) Percentage return on position profit/loss relative to the initial margin.

J Base Currency The underlying asset of the contract (e.g., BTC, ETH), used to calculate margin, fees, and profit/loss.

Trigger Order An order automatically submitted by the system when the reference price (last price or mark price) reaches the set trigger condition.

Trading Fee Fee paid or received when an order is filled.

Tiered Margin A risk control mechanism where the required initial and maintenance margin rates increase progressively as position size grows.

Trade History A record of all filled orders, including execution price, fees, and funding costs.

K Entry Price The average opening price of a position.

Opening Fee The fee reserved or actually charged by the system for opening a position.

L IOC (Immediate or Cancel) An order that must be filled immediately at the limit price or better; unfilled portions are canceled.

Cumulative Realized P&L The cumulative result of all closed positions’ profits/losses, fees, and funding costs since the account’s first trade.

M Bid Price The highest price at which the market is willing to buy a contract.

Long (Buy to Open) A position opened in anticipation of a price increase.

Ask Price The lowest price at which the market is willing to sell a contract.

Short (Sell to Open) A position opened in anticipation of a price decrease.

Target Price The reference closing price calculated based on expected return.

P Closing Price The average execution price at which a position is closed.

Closing Fee The fee reserved or charged by the system for closing a position.

Closed P&L The actual profit/loss generated after closing a position, excluding fees.

Average Entry Price The weighted average price calculated based on multiple opening orders.

Bankruptcy Price The price at which the position margin only covers closing fees. During liquidation, the system submits a closing order at this price.

GTC (Good ’Til Canceled) An order that remains active until fully filled or manually canceled by the user.

Q Initial Margin The minimum margin required to open a position.

Liquidation A risk control mechanism where the system automatically closes a position based on the mark price when margin is insufficient.

Cross Margin Mode All available account balances are used as shared margin to cover position risks.

S Depth-Weighted Bid/Ask Price A weighted price calculated based on funding rate impact depth, used for funding rate calculation.

Market Depth The market's ability to maintain price stability when handling large-volume trades.

Market Order An order executed immediately at the best available market price.

Market Close A closing order executed at market price after trigger conditions are met.

Profit/Loss (P&L) The amount of profit or loss generated by a position.

Yield The percentage profit/loss of a position relative to the contract value.

Dual Price Mechanism A pricing system combining the last price and mark price for risk control.

Dual Positions Allows holding both long and short positions simultaneously in the same contract.

U UID The unique account identification number of a user on the NewCoin platform.

W Maintenance Margin The minimum margin required to keep a position open and avoid liquidation.

Order ID The unique identifier for each successfully placed order.

Order Margin The total margin occupied by all unfilled orders.

Order Book An electronic list of buy and sell orders arranged by price.

Order Cost Includes initial margin, opening fee, and closing fee.

Order Price The execution price specified by the user in a limit order.

Order History A record of all orders submitted by the account.

Unrealized P&L The floating profit/loss calculated based on the current mark price, excluding fees and funding costs.

FOK (Fill or Kill) An order that must be filled entirely immediately; otherwise, it is canceled in full—partial fills are not allowed.

X Limit Order An order executed at a specified price or better.

Limit Close A closing order submitted at a limit price after trigger conditions are met.

Y Premium Index The degree to which the contract market price deviates from the spot index price.

Realized P&L The confirmed actual profit/loss after closing a position.

Z Reduce-Only Ensures that an order only reduces a position and will not increase its size.

Index Price A reference price calculated as a weighted average from multiple major exchanges.

Stop Loss A closing instruction used to limit the maximum loss of a position.

Take Profit An instruction to automatically close a position when the expected profit target is reached.

Isolated Margin Mode Margin for each position is calculated independently, and risks are not shared with other account funds.

Funding Rate A periodically calculated and settled rate used to balance long and short demand.

Funding Fee A fee settled between holding users based on the funding rate; the platform does not collect this fee.

Funding Rate Impact Depth The reference trading depth used to calculate the funding rate weighted price.

Auto-Deleveraging (ADL) A mechanism where, under extreme market conditions, the system automatically reduces certain positions based on risk ranking.