How to Trade Futures Contracts on Changelly PRO

It’s been a little over a year since our beginner-friendly trading platform Changelly PRO has been released. And now, we are finally ready to introduce one of the most highly-requested features – futures contracts!

Futures contracts are an essential part of the trading world. Their high risk, high reward nature makes them perfect for traders looking to make a lot of profit. However, they are a rather advanced trading activity. If you don’t know much about trading and/or crypto yet and don’t have that much experience with crypto trading, we advise you to try out beginner-friendly activities first. We also have comprehensive guides on the basics of crypto trading, margin, shorting, and a crypto trading glossary.

Crypto futures are an excellent way to make money from crypto price movements without having to actually hold the cryptocurrency you’re trading. Read on to see a step-by-step guide on how to trade crypto futures contracts on Changelly PRO.

What Is a Futures Contract?

A futures contract is an agreement to buy or sell an asset (in our case, a cryptocurrency like Bitcoin) at a predetermined price in the future. There are two types of futures contracts: ones that have an expiration date and ones that don’t. The latter type are called perpetual futures contracts, and they’re the ones offered on Changelly PRO.

Read this article to learn more about crypto futures.

Futures Contracts on Changelly PRO

Now, let’s take a look at how you can trade futures contracts on Changelly PRO.

  1. First, you will need to verify your account. Go to the Security tab in Settings to enable 2FA. You will also need to pass KYC. 
  2. You will need to add assets (in this case, USDT) to your derivative account. Please note that the assets added to your derivative account won’t be available for spot trading.
    • Click on the “Wallet” tab.
    • Find USDT on the list.
    • Top up your account if you don’t have enough funds.
    • Click on “Transfer”.

3. Choose “Derivatives” in the drop down menu and enter the amount of USDT you want to transfer to your futures wallet. 

4. You will need to add margin in order to trade futures. Go to either the Futures or the Margin tab and click on “Margin Wallet”. Scroll down to the bottom of the list and find BTC/USDT Perpetual. Choose your leverage and enter the amount you’d like to transfer.

5. Now, go to the Futures tab. This is the first thing you’ll see – nothing out of ordinary here, just your usual candlestick chart and the list of cryptocurrency pairs available for trading. At the moment our futures contracts feature is in beta, so the only trading pair that’s available is BTC/USDT – but more are coming soon! The “x75” next to Bitcoin’s ticker means the maximum leverage available for that pair. If you want to learn more about leverage, read this article.

6. Create a short or long position in the Buy/Sell widget.

Choose whether you want to make a market, limit, or scaled order. Hover your cursor over the little question mark sign to learn more about each of them. For the sake of simplicity, we will be making a market order in this guide. 

Enter the amount of BTC you would like to buy or sell. Since this is a market order, market price will be used – if you want to enter your own price, make a limit or scaled order.

Here’s what the system will calculate for you:

Amount the amount of crypto you will be buying/selling
Total the amount of crypto you will get/have to pay if your order is fulfilled at the current market price
Buying Power how much crypto you have available for spending (with leverage)
In orders  the amount of crypto you have reserved for all orders
Best bid/ask the best price for this type of order
Liq. Price liquidation price, the price at which the contract will be automatically liquidated

7. Your newly created order will be available for review on the same screen in “My Orders and Trades”.

8. You will be able to change a contract’s leverage after creating it by clicking on the Margin button.

9. Now let’s take a closer look at what information will be available to you after creating a futures contract.

Here’s all the data you will be able to see.

Contract here you can see an overview of your contract
Position Size  the size of the contract you want to buy or sell
Entry Price the price of the relevant trading pair at the moment the position was opened
Liq. Price liquidation price, the price at which the contract will be automatically liquidated
Risk shows how close your position is to being liquidated
Unr. PnL the profit (or loss) you will incur if the contract is closed at the current market price
PnL the actual profit (or loss) of this contract
ADL shows how likely this position is to be used to cover the losses of the traders with an opposite position in case of significant price movements 
Margin margin collateral for the position

All futures contracts opened on Changelly PRO are perpetual, meaning they do not have an expiration date. There are 3 ways for a perpetual futures contract to be closed:

  1. If the price of an asset reaches liquidation price
  2. In case of ADL (Auto-Deleveraging)
  3. When you decide to close your position yourself

To close a position, click on the “Close” button in “My orders and Trades”. 

You will be shown an estimated exit price (the price of an asset at the moment of closing a position) and your estimated realized PnL (the profit/loss you will incur if you close the position).

Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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