BitZ Contract Trading: Settlement, Leverage, and Margin Rules
Summary
This note collects operational details for trading BitZ contracts through its API, including contract identification, contract types, leverage behavior, margin modes, and closing orders. It distinguishes linear contracts from inverse contracts, noting that coin-margined contracts settle in the underlying coin rather than in USDT. The examples also describe account balance and empty-position responses.
The main practical observations are that API calls require a numeric contract ID mapped from exchange data, and leverage must match the leverage associated with an existing position when opening or closing orders. The note says an opposite-side order that does not exceed the position incurs no additional margin, while any excess is treated as a new position and reserves funds. These are platform-specific observations from a historical test account and API use; they are not a complete contract specification or a general trading strategy, and current exchange behavior may differ.
Key ideas
- API order parameters use numeric contract IDs that must be mapped to contract details.
- Coin-margined BitZ contracts are inverse contracts and settle in the underlying coin.
- The reported API rejects orders that use a leverage setting different from the existing position.
- An opposite-side order within the open position size does not require additional margin according to the note.
- Any order quantity beyond the position being closed is treated as opening exposure and reserves margin.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.