BiyaPay currently only supports USDT-margined perpetual contracts.

USDT-margined perpetual contracts are cryptocurrency contract products settled in USDT, where each contract represents a certain amount of cryptocurrency (for example, a BTCUSDT contract represents 0.01 BTC).

Product Features

(1) Expiration Date

Perpetual contracts have no expiration or delivery date and never expire.

(2) Tiered Maintenance Margin Rate System

The maintenance margin rate refers to the minimum margin rate required for users to maintain their current positions. When the margin rate falls below the maintenance margin rate plus the liquidation fee rate, forced liquidation or forced partial position reduction will be triggered.

(3) Funding Fee Mechanism

Since there is no expiration or delivery date, perpetual contracts need a funding fee mechanism to anchor the contract price to the spot price. Funding fees are charged every 8 hours at 08:00, 16:00, and 24:00 Hong Kong time. Users only need to pay or receive funding fees when holding positions at these times. If positions are closed before the fee collection time, no funding fees will be charged.