📈 Trade

Aspecta Futures is similar to regular perpetual futures in trading (opening and closing position), and is different in its specially designed settlement mechanism.

Please note: The rules and settings may vary by project. Please read the detailed rules on each project page.

1. Trading Stages

Aspecta Futures has 3 trading stages:

1. Trade
2. Trade + Settle
3. Final Settlement (Close & Share)

1.1 Trade Stage

Users can trade Long or Short positions without limit.

1.2 Trade + Settle Stage

After the settlement start date, besides trading long/short, users can also settle their positions for tokens at the same time. Specifically,

• Long users can settle positions to receive tokens.
• Short user can settle positions by delivering tokens.

Please refer to Asset Settlement for details.

1.3 Final Settlement Stage (Close & Share)

The "Final Settlement Stage" is the final deadline for short users to complete their settlement commitment.

• Before the Final Settlement Stage, short users can close positions by trading or delivering tokens.

• Within/After the Final Settlement Stage, unsettled short positions can no longer be closed. All long users will share the tokens from settled short users and USDT from unsettled short users.

Please refer to Asset Settlement for details.

2. Limit Order

Aspecta Futures supports limit orders. Users can set their ideal price to open/close a position.

After your limit order is filled, you can automatically receive the filled positions or USDT in your next transaction. You can also manually claim the filled positions or USDT in "Open Orders".

3. Price Protection

To avoid unreasonable price volatility and potential price manipulation, Aspecta Futures adds a Price Protection mechanism.

1. For each blockchain block, the market price cannot change over 25% (may vary by project). The exceeding orders will be dropped or converted to a limit order within the 25% change range.

2. For every 5 min (may vary by project), the market price cannot change over 50% (may vary by project). The exceeding orders will be dropped or converted to a limit order within the 50% change range.

4. Auto-Deleveraging (ADL) Mechanism

Aspecta Futures Auto-Deleveraging (ADL) System helps control the platform's overall risk during liquidation events in extreme market conditions. The ADL mechanism provides a stable trading foundation to maintain a healthy settlement status, and avoid extreme settlement rate changes and fee rates. ADL works by automatically deleveraging profitable positions on the opposite side of the "liquidated" positions, based on the ADL ranking.

ADL will be triggered when the price extremely volatile and causes high settlement risks for "liquidated" short positions. In such a case, the existing profitable long positions will be reduced by the system to rebalance the long/short ratio and reduce settlement risks.

You can reduce your exposure to ADL by partially/fully closing your positions in profit.