BingX Perpetual Futures now supports "One-Way Mode" in addition to the existing "Hedge Mode". Enjoy increased flexibility in choosing your position modes that align with your trading preferences.
I. What Is One-Way Mode?
In One-Way Mode, you can hold positions of a trading pair in one direction only - either long or short. In Hedge Mode, you can simultaneously hold both long and short positions of the same trading pair.
For example, if you hold a short BTC position and wish to open a long position in "One-Way Mode", you must close the short position before you can open the long position. However, you can directly open a long position without closing your existing short position in Hedge Mode.
II. What Are the Benefits of One-Way Mode?
1. Streamlined Position Opening and Closing
Similar to spot trading, it enables users to apply conventional trading methods used in traditional financial products (stocks, forex, etc.), simplifying the buying and selling process.
2. Easier Position Management
With only one position for each trading pair, it eliminates the need to manage both long and short positions, as required in Hedge Mode.
III. What Scenarios Can One-Way Mode Be Used For?
1. For Futures Trading Beginners
For beginners in Futures Trading, One-Way Mode is more user-friendly as it aligns with the position mode of traditional financial products and closely resembles spot trading (with only buy and sell operations).
2. For API and Strategy Traders
One-Way Mode has lower margin utilization, making it a favorable choice for API and strategy traders. Moreover, it operates similarly to spot trading, allowing users to seamlessly apply their spot strategies to futures trading.
3. Copy Trading Traders
In One-Way Mode, traders can simplify their decision-making process by solely analyzing the market and considering "buy long" or "sell short". This streamlined approach extends to copiers, who can copy without needing to account for the trader's current positions, enhancing the overall efficiency of the process.
IV. What Is the Difference Between One-Way Mode and Hedge Mode?
Hold position of a contract only in one direction.
Hold both long and short positions of the same contract simultaneously.
Either open a long or short position, much like how you'd buy and sell in the spot market.
Choose between "Open" or "Close" before placing an order, and then select "Long" or "Short". When you want to open a position, please first select "Open".
|Only one leverage can be set for both long and short directions
|Different leverages can be set for long and short positions.
V. How to Switch to One-Way Mode?
Hedge Mode is the default mode used in BingX Perpetual Futures.
To switch to One-Way Mode, click on "..." in the upper right corner of the Perpetual Futures trading page. Click "Preferences" - "Position Mode" and switch it to "One-way Mode".
Note: You are unable to adjust position mode if there are open positions or open orders, as position mode setting applies to all contracts.
Note: One-way Mode currently does not support placing order by cost, Guaranteed SL feature, Guaranteed Price trigger order, sharing positions or orders, and switching to the simplified version of Futures.
Do you have any further questions? Visit the Perpetual Futures FAQs to learn more.