从2013年OKEX首次推出比特币交割合约， 数字货币交易市场迎来巨大的转变，一时风头无限，无数投资者涌入比特币合约市场，给OKEX累积了大量用户和资本。后续各大交易所陆续上线比特币合约交易，更增加入了永续合约、U本位合约等交易模式，比特币合约交易模式的诞生，为数字货币的发展立下了汗马功劳。
Following the launch of the Bitcoin cut-off contract for the first time in 2013, the market for digital currency transactions was transformed dramatically, with numerous investors rushing into the Bitcoin contract market, accumulating large amounts of users and capital for the OKEX. Following the successive online Bitcoin contracts and the addition of business models such as the permanent contract, the U-turn contract, and the birth of the Bitcoin contract trading model, which contributed to the development of digital money.
比特币合约，是指无需实际拥有比特币也可进行交易的合约。它与必须实际持有数字货币才可进行的币币交易有很大不同，类似传统期货；比特币合约使你能够预测比特币的价格走势和对冲风险。这种交易方式，意味着你投资的是价格趋势，而非资产本身；在交易比特币合约时，你可以决定做空还是做多。选择做多，表明你预计比特币价格将会上涨。 另一方面，选择做空表明你预计价格将会下跌。
Bitcoin contracts are contracts that can be traded without actually having bitcoin. They are very different from currency transactions that must be actually held in digital currency, similar to traditional futures; bitcoins contracts enable you to predict price movements and hedge risks in bitcoins. Such transactions mean that you invest in price trends rather than assets per se; and you can decide whether to do more when you deal with bitcoin contracts.
与传统外汇和期货一样，比特币合约的交易风格更适合中小投资着的入手；以较小的资金量通过和杠杆来购买一定数量的比特币进行交易，然后根据买入预测方向和买入数量再通过币的价格变动来计算盈利和亏损。
As with traditional foreign exchange and futures, the trading style of the bitcoin contract is more appropriate for the start-up of small and medium-sized investments; a smaller amount of money is traded through and leverages a certain amount of bitcoins, and then profits and losses are calculated on the basis of purchasing forecasts and purchasing quantities and then through price changes in the currency.
比特币合约分交割合约和永续合约，简单说交割合约就是再规定的交割时间内，进行合约交易，入场持仓后，时间到了交割日期，无论持仓盈亏，系统都会自动平仓。永续合约的交易模式更加的简单，持仓之后无任何的时间限制，除非到达强制平仓价格，仓位可以一直持有；不过为了平衡市场多空比，永续合约持仓之后会结算资金费率。资金费率按持仓价值和做空做多来结算扣除或发放。
The Bitcoin contract splits the contract and the permanent contract. Simply put, the final contract is a further cut-off time, when the contract is traded, when the time is taken into custody, and the system automatically clears the cut-off date, regardless of the profit or loss. The permanent deal is more simple and there is no time limit after the hold, unless the price is forced down, the warehouse can be held; however, in order to balance the market, the permanent contract settles the fee rate when it is held.
说完比特币合约的操作模式，我们来介绍合约交易的盈亏计算方式和其他费用的计算方式。
After the business model of the Bitcoin contract, we'll describe the way in which the profit and loss calculations and other costs of the contract transactions are calculated.
合约交易盈亏计算方式：
The contract transaction
（平仓价格-建仓价格）*持币的数量=盈亏
(Standard price - construction price) * Number of currency holdings = gains/losses
做多：平仓价格>建仓价格，就是盈利，反之亏损
Do more: flattened prices > construction price, profit, loss
做空：平仓价格>建仓价格，就是亏损，反之盈利
Frustration: flattened prices > construction price, loss, profit
合约交易其他费用计算方式：
Other costing methods for contractual transactions:
主流平台永续合约和交割合约的其他的费用主要包括：交易手续费、资金费率
Other costs of sustainable contracts for the mainstream platform and contract closure include, inter alia, transaction fees, fund rates
交易手续费：
transaction fees:
合约交易建仓平仓又分挂单和吃单，也就是maker和taker
The contract deal was to build a warehouse and separate the menus, that's to say, maker and taker.
主流平台基础手续费标准：maker：0.02%
Mainstream platform basic fees: maker: 0.02 per cent
taker：0.04% （okex基础手续费费taker：0.05%）
Taker: 0.04 per cent (OKex base handling fee: 0.05 per cent)
挂单和吃单，只要不是现价建仓平仓，止盈止损都算maker；
(a) Lists and bills of lading, which are made up of makers as long as they are not prepared at current prices;
交易手续费=持仓价值*手续费费率
Transaction fees = fee rates at warehouse value*
例如：20X，现价买入价值为30000U比特币1个，持仓价值就是
For example: 20X, the current purchase value is 30,000 U bitcoin, and the holding value is:
30000U=1*30000U；
持仓价值=币的数量*开仓价格
Store value = quantity of currency*
按上面为例
Let's take the example above.
30000U*0.04%=12U，
所以只是建仓，交易一个比特币的手续费就不容忽视，加上平仓的手续费，现价平仓和挂单平仓
So just to build a warehouse, the bill to trade a bitcoin cannot be ignored, plus the charge to level the warehouse, the current price to level the warehouse and the hangout.
现价平仓：30000U*0.04%=12U
Current prices: 30,000 U*.04% = 12 U
挂单平仓：30000U*0.02%=6U
Hanging silo: 30,000 U*.02% = 6 U
所以完成的一次合约交易，一个比特币的交易手续费就要12U-24U，而且还是比特币价格是30000U的时候，按现在的币价计算，37000U 买卖一个比特币的手续费就要14.8U-29.6U
So when a contract transaction is completed, a bitcoin transaction fee is 12 U-24U, and a bitcoin price is 30,000 U, and at the current currency price, 37,000 U buys and sells a bitcoin is 14.8 U-29.6 U
主流平台手续费相对二三线平台更低，二三线平台手续费一般在0.03%-0.06%左右；交割合约和永续合约交易手续费计算方式一样。
Mainstream platform handling fees are lower than those for second- or third-line platforms, which typically range from 0.03 per cent to 0.06 per cent; contracts of delivery are calculated in the same way as transaction fees for permanent contracts.
永续合约除了交易手续费还有一个资金费率，但是资金费率不是固定的数值，按照市场多空比差异决定，资金费率主要作用是为了平衡市场多空比。
In addition to transaction fees, the permanent contract has a 当资金费率为正的时候，资金费率数值*持仓价值=资金费率 When the funding rate for 持多单按仓位价值扣除资金费率，持空单按仓位价值获得资金费率 Multiple receipts at 反之，当资金费率数值为负时，持多单拿钱，持空单扣钱 On the other hand, when the value of the fund rate is negative, take more money, take more money. 资金费率每天00:00、08:00、16:00，结算一次。 Fund rates are settled once a day at 00:00, 08:00 and 16:00. 基本上做永续合约除了仓位的盈亏，就这两种成本，资金费率这个不可避免；大多数人会忽视交易手续费的重要性，频繁交易几个月，交易手续费就会比本金多，不过也有降低交易手续费成本的方法，比特币小鱼社区就是做手续费返佣的，主流平台可以降低35%的交易成本。 In both cases, the cost of funds is inevitable; most people ignore the importance of transaction fees, which are more expensive than principal for several months when they are often traded, but there are ways to lower the cost of transaction fees, with the Bitcoin small-fish community returning to work, and the mainstream platform reducing the transaction cost by 35 per cent. 比特币合约交易还一个重要的部分：强平价格。合约交易和现货交易最大的区别在于强平机制，合约持单在亏损大于账户保证金时，系统会自动强制平仓，也叫爆仓！合约交易的仓位模式分全仓模式和逐仓模式；全仓模式下合约账户内所有资金作为保证金参与交易，逐仓模式下手动添加的保证金参与交易。全仓模式下强制平仓会亏损合约账户内所有资金，逐仓模式下可以手动添加保证金来降低强制平仓风险。 The biggest difference between a contract transaction and a spot transaction is a strong parity mechanism, where the system automatically forces the clearing of stocks when losses exceed an account bond, also known as a silo! The warehouse-to-ware mode of a contract transaction is a full warehouse and a warehouse-to-ware mode; all funds in the contract account under the full warehouse mode are traded as bonds, and the deposit added manually to the stock-to-ware mode is traded. Under the full warehouse mode, all funds in the contract account are forced to run off the contract account, and the stock-to-house mode can be added by hand to the stock-to-ware mode to reduce the risk of forced silos. 比特币合约交易放大资金来放大盈亏，加上数字货币的行情波动大，没有严格仓位管理和良好的交易思路，不建议入场！ Bitcoin contract transactions magnify gains and losses, coupled with the volatility of the digital currency and the absence of strict position management and good trade thinking, are not recommended for entry!
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