在金融市场中，期货合约是指在未来特定时间以预定价格买卖资产的协议。与传统现货市场不同，合约交易不会立即结算。买卖双方交易的是规定在未来某一确定时间结算的合约。
In financial markets, futures contracts are agreements that buy and sell assets at predetermined prices at certain future times. Unlike traditional spot markets, contract transactions are not settled immediately.
在传统金融系统中，投资者、企业和政府使用期货合约管理风险，对冲资产价格波动。此类衍生品的价值来自标的资产，可通过场外交易市场或交易平台进行交易。
In the traditional financial system, investors, businesses and governments use futures contracts to manage risks and hedge asset price fluctuations.
永续合约与传统期货合约类似，主要区别在于永续合约没有到期日。
The main difference between a permanent contract and a traditional futures contract is that it has no expiry date.
换言之，永续合约和传统期货合约均可让交易者投机价格走势，但永续合约没有到期日和结算日期。这就解决了存置成本及现货市场和传统期货市场间潜在价差的相关问题。
In other words, a permanent contract and a traditional futures contract can give traders speculative price movements, but a permanent contract has no expiry date and settlement date. This solves problems related to storage costs and potential price differentials between the spot market and the traditional futures market.
1.标记价格：确保其价格匹配现货价格，防止市场操纵。
1. Marked prices: ensures that their prices match spot prices and prevents market manipulation.
2.初始保证金和维持保证金：对风险管理至关重要，尤其是维持保证金，可触发自动强制平仓。
2. The initial bond and maintenance bond: are essential for risk management, in particular the maintenance of the bond, which triggers automatic mandatory stubble.
3.资金费率：多头和空头头寸持有者将根据当前未平仓头寸的情况付款，具体由谁付款由谁收款则视后续的资金费率而定。
3. Funding rates: Payment by holders of
当市场看涨时，资金费率通常为正。多头交易者需向空头交易者付款。反之，当市场看跌时，资金费率通常为负，则空头交易者需向多头交易者付款。
When the market looks up, the money rate is usually positive. Multiple traders pay to empty traders. Conversely, when the market looks down, the money rate is usually negative, while empty traders pay to multiple traders.
4.风险：可进行杠杆交易，订单金额可能远超初始抵押品的金额。
4. Risk: can be leveraged and the amount of the order may be much higher than the amount of the initial collateral.
杠杆可为您带来巨大收益，但也相应地放大了潜在损失。交易者须谨慎行事，事先详细了解杠杆可能带来的影响以及可减轻潜在损失的风险管理策略。
Leverage can yield significant benefits, but it also magnifies potential losses accordingly.
在加密货币行业中，合约市场增长迅速，每月交易量可达数万亿美元。加密货币合约是代表特定加密货币价值的金融合约，交易者无需拥有标的资产，即可对其未来价格走势进行投机。此类合约订立了在未来约定日期以预定价格买卖加密货币的协议。
In the crypto-currency industry, the contract market is growing rapidly, with transactions amounting to trillions of dollars a month. A crypto-currency contract is a financial contract that represents the value of a given encrypted currency, and the dealer does not need to own the target asset to speculate about its future price movements.
加密货币合约与传统期货合约类似，是投资者用于抵御价格波动和投机加密货币未来价格的工具。其支持多种交易策略，有助于实现投资组合多元化。
Encrypted currency contracts, similar to traditional futures contracts, are instruments used by investors to resist price volatility and speculative encryption of future prices of currencies. They support a variety of trading strategies that help diversify investment portfolios.
解读补充
Interpretation supplement
加密货币合约交易是一种使用金融衍生品合约进行加密货币交易的方式。它允许投资者在不持有实际加密货币的情况下，通过合约与市场进行交互，以赚取价格波动的利润或进行风险对冲。加密货币合约交易的核心是基于合约的交易。这些合约是数字化的合约，记录了交易方的权益和义务，规定了交易的条件和规则。合约的价值与相关加密货币的价格有关，从而使投资者能够实现对加密货币价格的投机或对冲。
Encrypted currency contract transactions are a way of encrypting currency transactions using financial derivatives contracts. They allow investors to interact with the market without having actual encrypted currency, either to earn profits from price fluctuations or to hedge risks. The core of encrypted currency contract transactions is a contract-based transaction. These contracts are digitized contracts that record the interests and obligations of the parties and set out the terms and rules of the transaction. The value of the contract is related to the price of the relevant encrypted currency, thus enabling investors to make speculation or hedge against the encrypted currency price.
例如，一个常见的加密货币合约是期货合约。期货合约允许投资者在未来某个特定日期以约定价格买入或卖出加密货币。通过期货合约，投资者可以利用加密货币价格波动进行交易和投资，无需实际持有加密货币。此外，还有其他类型的加密货币合约，例如差价合约（Contract for Difference，CFD），允许投资者根据加密货币价格的差异进行交易。在差价合约中，投资者与经纪商之间达成合约，根据加密货币价格的涨跌赚取差价。
For example, a common crypto-currency contract is a futures contract. Futures contracts allow investors to buy or sell encrypted money at an agreed price at a given date in the future. Through futures contracts, investors can trade and invest with encrypted currency price fluctuations without actually holding encrypted currency.
1、期货交易
1. Futures transactions
期货合约允许投资者以约定价格在将来的指定日期买入或卖出加密货币。投资者可以通过做多（买入）或做空（卖出）合约来获取利润。如果投资者预计加密货币价格上涨，他们可以以较低价格买入合约，在价格上涨后以高价卖出，从中获取利润。相反，如果投资者预计加密货币价格下跌，他们可以卖出合约，然后在价格下跌后以较低价格买回合约，从中获取利润。
Futures contracts allow investors to buy or sell encrypted money at agreed prices at a given date in the future. Investors can profit by making more (purchase) or empty (sale) contracts. If investors expect an increase in the price of encrypted currencies, they can buy contracts at lower prices, sell them at higher prices after price increases, and profit from them.
2、差价合约（CFD）交易
2. Deals with post-price contracts (CFDs)
差价合约是一种金融衍生品，投资者可以通过与经纪商达成合约进行交易。差价合约允许投资者根据加密货币价格的差异进行交易。投资者可以选择做多或做空差价合约，从中获利。差价合约的优势在于投资者可以用较小的资金参与交易，并可以进行杠杆交易，增加潜在利润，但也伴随着增加了风险。
A price differential contract is a financial derivative from which investors can make transactions by entering into contracts with brokers. A price differential contract allows investors to trade on the basis of variations in the price of encrypted currencies. Investors can choose to make more or more price differentials, profiting from them. The advantage of a price differential contract is that investors can engage in transactions with smaller funds and can leverage transactions that increase potential profits, but also increase risks.
3、期权交易
3. Right-of-occupancy transactions
期权是一种购买或出售加密货币的权利，而非义务。投资者可以购买认购期权（Call Option）或认沽期权（Put Option）。认购期权赋予投资者在约定日期或之前以约定价格购买加密货币的权利，而认沽期权赋予投资者在约定日期或之前以约定价格卖出加密货币的权利。期权交易可用于投机、对冲或保护投资组合。
The option is a right, not an obligation, to purchase or sell an encrypted currency. Investors can buy a subscription (Call Office) or a buy-in (Put Office). The right to buy an encrypted currency at an agreed price on or before the agreed date, while the right to take-off entitles an investor to sell an encrypted currency at an agreed price on or before the agreed date.
4、杠杆交易
4. Leverage transactions
许多加密货币交易平台允许投资者进行杠杆交易。杠杆交易是指投资者借用资本来增加投资额度，从而放大潜在收益和亏损。杠杆交易可以是双向的，投资者可以选择做多或做空加密货币。然而，需要注意的是，杠杆交易也增加了风险，如果市场走势与投资者的预期相反，可能会导致更大的损失。
Many encrypted money trading platforms allow investors to leverage their transactions. Leverage transactions mean that investors borrow capital to increase their investment levels, thereby magnifying potential gains and losses. Leverage transactions can be two-way, and investors can choose to make more or more encrypted currencies.
1、杠杆交易：加密货币合约允许投资者进行杠杆交易，借用资本来放大投资额度。这意味着投资者可以使用较少的自有资金来控制更大的加密货币头寸。杠杆交易能够增加潜在收益，但需要谨慎使用，因为它也会增加潜在风险。
Leverage transactions: Encrypted money contracts allow investors to leverage transactions and borrow capital to magnify investment levels. This means that investors can use less of their own money to control larger encrypted monetary positions. Leverage transactions can increase potential gains, but they need to be used with caution, as they also increase potential risks.
2、无需实际拥有加密货币：加密货币合约允许投资者在不拥有实际加密货币的情况下进行交易。这消除了购买和安全存储实际加密货币所涉及的复杂性和风险。投资者可以通过合约参与市场，享受价格波动的利润，而无需处理实物加密货币。
This eliminates the complexities and risks involved in purchasing and safely storing the actual encrypted currency. Investors can participate in the market and enjoy the profits of price fluctuations without having to deal with the physical encrypted currency.
3、交易灵活性：加密货币合约交易市场通常开放24小时，与传统金融市场相比，没有交易所停市的概念。这使得投资者可以根据自己的时间表和偏好，随时进行交易。此外，合约交易市场通常具有高流动性，提供了快速执行交易的机会。
3. Transaction flexibility: The market for encrypted currency contracts is usually open for 24 hours, and there is no business stoppage concept compared to traditional financial markets. This allows investors to make transactions at any time according to their own schedules and preferences.
4、多样化的交易策略：加密货币合约交易为投资者提供了多种交易策略的选择。投资者可以根据市场趋势，选择做多或做空合约，从中获利。此外，还可以使用期货、期权、差价合约等不同类型的合约，应用更复杂的交易策略，实现风险管理、对冲或套利。
4. Diversified trading strategies: Encrypted currency contracts offer investors a variety of options for trading strategies. Investors can profit from multiple or empty contracts, depending on market trends.
5、市场透明度：加密货币合约交易市场通常是去中心化的，这意味着交易数据和订单簿对所有参与者都是透明的。这种透明度可以提高市场的公正性和可预测性，并更容易进行技术分析和决策制定。
Market transparency: The market for encrypted currency contracts is usually decentralized, which means that the transaction data and order books are transparent to all participants. This transparency enhances the fairness and predictability of the market and makes it easier for technical analysis and decision-making.
1.灵活性：非加密货币持有者亦可使用稳定币或其他加密货币对加密货币价格进行投机。
Flexibility: non-encrypted currency holders may also speculate the price of encrypted currency using stable or other encrypted currencies.
2.杠杆：交易者只需投入总成本的一小部分，即可获得加密货币敞口。
2. Leverage:
3.流动性：加密货币合约市场具有极高的流动性，降低了买卖头寸的相关潜在风险。
3. Liquidity: The highly mobile market for encrypted currency contracts reduces the potential risks associated with the position of the buying and selling position.
4.投资组合多元化：支持制定更加复杂的交易策略，如做空、套利和配对交易等。
4. Portfolio diversification: supports the development of more complex trading strategies, such as empty, arbitrage and pairing.
币安提供U本位合约和币本位合约两大产品，二者各具特色及优势。U本位合约包括永续合约和交割合约，以USDT或USDC结算。币本位合约同样包括永续合约和交割合约，以加密货币结算。
The currency offers both U-bit contracts and currency-level contracts, each of which is unique and advantageous. The U-bit contracts include permanent contracts and contracts of delivery, which are settled in USDT or USDC. The currency-level contracts also include permanent contracts and contracts of delivery, which are settled in encrypted currency.
币本位合约 Currency contract | U本位合约 Uh-huh. Uh-huh. Uh-huh. | |
|---|---|---|
抵押品 Mortgage | 加密货币（如BTC、ETH） Encrypted currency (e.g. BTC, ETH) | USDT或USDC USDT or USDC |
保证金类型 Type of bond | 逐仓或全仓 Haul-by-basket or full-basket | 逐仓或全仓 Haul-by-basket or full-basket |
币本位合约的优势
The advantage of a currency contract
可以加密货币结算，无需稳定币。
You can encrypt the monetary settlement without the need to stabilize the currency.
所获收益有利于长期持有，尤其在市场看涨期间。
The gains were favourable to long-term holding, especially during the period of market upswing.
无需将所持资产转换为USDT或USDC即可进行对冲。
The hedge is not required to convert the assets held to USDT or USDC.
U本位合约的优势
advantage of
以USDT或USDC结算的线性合约，令收益更为直观。
Linear contracts settled in USDT or USDC make the returns more intuitive.
多种期货合约可使用相同的结算货币，降低兑换手续费。
A variety of futures contracts could use the same settlement currency to reduce the transaction costs.
新手入门合约交易注意事项
Newcomer contract transaction alert.
新手不建议玩合约，确实想带你的人靠谱
Newcomers don't recommend contracts. They do want to take your people to the bottom.
一、选择交易平台。选择一个合法、信誉良好的交易平台，推荐 币安、欧易、bitget，强烈推荐欧易或者币安，确保平台提供全面的技术支持和客户服务，并考虑平台的交易费用和提供的合约类型。
i. Select a trading platform. Select a legitimate and reputable trading platform, recommend currency, Euro, bitget, strongly recommend euro or currency security, ensure that the platform provides comprehensive technical support and customer services, and consider the transaction costs of the platform and the type of contract that it offers.
首先你先要明白参与合约的目的是避险还是投机，了解自己的需求后，我们才能寻找到适合自己的交易所。
First, you have to understand whether the purpose of participating in a contract is to avoid risk or to be speculative and to know your needs before we can find an exchange that suits us.
交易所的性质由于都是中心化的，本身带有一个信用问题，如果交易所的口碑不佳，信用有瑕疵，那是对交易者最大的风险，由于目前数字货币在一个早期阶段，目前还没有国家信用背书的交易所出现，都是各类资本培育的一些或大或小或老或新的交易平台，在这样的一个背景下，该如何选择交易所才能更好的规避风险，有利于保护自己的货币资产呢？
Given the centrality of the nature of the exchange and its inherent credit problem, which is the greatest risk to traders if the exchange's reputation is poor and its credit is flawed, and given that, at an early stage, there is currently no exchange with a national credit endorsement, all of which are some of the large or small or old or new trading platforms nurtured by various types of capital, how can the exchange be chosen to better avoid risk and to protect its monetary assets?
安全性：
Security:
从交易所的背景和其安全保护模式的构建来判断其本身技术性的安全性是否足够？
Is its technical security sufficient to be judged by the context of the exchange and the construction of its security protection model?
不同的交易所的背后代表不同的资本和技术团队，考察它的实力和稳定性，有利于判别他们的生存和抗风险能力。历史上一些交易所资产被黑客盗取，以及无法清偿投资者损失，都是其背后安全构建以及资金实力孱弱导致的。
The backseat of different exchanges represents different capital and technology teams, looking at their strength and stability, and helping to distinguish between their survival and their resilience. Historically, some of the exchange’s assets have been stolen by hackers, as well as the inability to pay off investors’ losses.
便利性：
Accessibility:
交易所的功能设置和操作性要简便，出入金迅速，服务及时，响应迅速，是最直接对交易者构成影响的一些因素，由于数字货币交易是7*24小时，365天时时交易，投资者遍布全球，一个响应迅速，服务到位的交易所，对投资者的好处是显而易见的。
The functional set-up and operation of the exchange is simple, the entry and exit money is quick, the services are timely and responsive, and some of the factors that affect traders most directly, given the 7*24-hour and 365-day digital currency transactions, the global spread of investors, the rapid response of a serviced exchange, and the obvious benefits to investors.
专业性：
Professional:
由于合约交易有别于现货交易，有很多交易者是频繁高频交易，也有很多程序化的量化交易存在，交易功能的专业性和人性化设计对交易者会带来极大的好处，有时甚至是关系到你生存和收益率高低的最重要的要素。
Since contractual transactions are distinct from spot transactions, many are frequent HF transactions and many procedurally quantitative transactions exist, the professional and human design of the transaction function offers great benefits to the traders, and sometimes even the most important element of your survival and low rate of return.
二、学习与研究。了解不同的合约种类及其特点，掌握基本分析方法，如技术分析和基本面分析，以预测价格走势并制定正确的交易策略。
ii. Learning and research. Understanding different types of contracts and their characteristics, and mastering basic analytical methods, such as technical and fundamental analysis, to predict price trends and develop sound trading strategies.
三、开设交易账户。在选定的交易平台注册账户，按照指引填写个人信息并进行身份验证。
Opens a transaction account. Registers an account on a selected transaction platform, fills in personal information in accordance with the guidelines and verifies the identity.
四、资金准备。准备足够的资金用于交易，可以通过银行转账、数字货币充值等方式将资金存入账户。
(iv) Preparation of funds. Sufficient funds are prepared to be used for transactions, which can be deposited into an account through bank transfers, digital currency charges, etc.
五、选择交易策略。根据个人风险承受能力和投资目标选择合适的交易策略，并在平台上设置相关参数。
Select the trading strategy. Select the appropriate trading strategy based on individual risk tolerance and investment targets and set the parameters on the platform.
六、开始交易。在平台上选择感兴趣的交易品种，输入交易数量和价格，确认交易信息后下单执行。
Starts a transaction. Select an interested type of transaction on the platform, enter the number and price of the transaction, confirm the transaction information and place it on the order.
七、风险控制与止损。设定合适的止损点和止盈点，以控制风险并保护投资。
Risk control and stoppage. Sets the appropriate stop point and stop point to control the risk and protect the investment.
八、资金管理。合理规划和分配资金，避免过于追求高收益而忽视风险控制。
viii. Management of funds. Rational planning and allocation of funds to avoid over-seeking high returns while neglecting risk control.
九、定期复盘和调整。总结交易经验和分析市场情况，对操作进行反思和调整，以提升交易水平。
IX. Periodic review and adjustment. Stocktaking of trade experiences and analysis of market conditions, and reflection and adaptation of operations to raise the level of transactions.
十、分析行情和趋势。了解币圈的单边行情和震荡行情，分析趋势，选择好的点位和时机。
X. Analyses developments and trends. Understand the unilateral and concussions of the currency circles, analyse trends, and select good points and timings.
控制仓位。合理控制仓位，避免过度杠杆导致风险过大。
Control the warehouse. Rational control of the warehouse to avoid excessive leverage leading to excessive risk.
持续学习和改进。保持对市场的关注，学习最新的金融新闻和事件，提升分析能力和技术水平。
Continuous learning and improvement. Keep market focus, learn from the latest financial news and events, and upgrade analytical capabilities and skills.
在进行合约交易时，务必保持谨慎，遵守交易规则，并注意风险管理。
In conducting contractual transactions, care must be taken to comply with the trading rules and to manage risks.
合约交易由于天生的杠杆特性，在操作时必须坚守安全可控为最低标准，方可在合约交易中求得生存并得到发展。
Contract transactions, because of their natural leverage characteristics, must be operated in a manner consistent with minimum standards of security control in order to survive and develop in contractual transactions.
1、对套期保值现货的投资者来说，主要是规避币价下跌的贬值风险，用低保证金来保值的需求，所以可以在趋势下跌形成时，用中等杠杆等值覆盖来开单，止损设在趋势反转点即可。
1. For hedged spot investors, the need to hedge against the risk of currency devaluations falling and the need to use low bonds to preserve value, so that when the trend falls, the median leverage equivalent can be used to cover the billing and stop the damage at the trend reversal point.
2、对投机交易者来说，止损必须在开单时同步，杠杆的使用上和每单的最大可承受亏损额匹配。
2. For speculators, damage cessation must be synchronized at the time of billing, and leverage must match the maximum affordable loss per item.
3、不论套保和投机，开单只在盈亏比高的位置进行，减少无效操作，避免高频操作。目的明确，计划交易。
The billing is done only in positions where the profit/loss ratio is higher, reducing ineffective operations and avoiding high-frequency operations.
合约交易只有2个目的，第一就是套利保值，这个是对现货的保护，第二就是投机获利，实现财富的大增值。
Contract transactions have only two purposes, the first being arbitrage, which protects off-the-shelf goods, and the second is speculation for profit and the achievement of substantial value added to wealth.
套利保值相对简单，只在趋势拐点处才会交易，每年的操作次数有限，目的就是保持资产避免下跌贬值。
The arbitrage is relatively simple and is traded only at the tipping point, with a limited number of operations per year, with the aim of preserving assets from falling devaluations.
而投机获利，是大多数参与合约交易者的初衷，目的是以小博大，获取高额收益，所谓高收益必然伴随高风险，所以其最重要的就是在投机中尽最大可能降低风险度，保持可控和持续生存能力，才能笑到最后。
The profit from speculation, which is the original purpose of most of the participants in the contract, is to achieve high returns with a small margin, with so-called high returns necessarily accompanied by high risks, so the most important of which is to minimize risk in speculation and maintain manageable and sustainable viability in order to laugh until the end.
主要运用技巧必须做到以下几点：
The main application of the techniques must be as follows:
1、耐心等待确定性时机
1. Patience to wait for certainty
包括入场和出场的时机，遵从自己的操作系统和操盘策略，只有当触发自己的交易条件时才入场，避免随机交易和情绪化交易。
This includes entry and entry times, compliance with their own operating systems and drill strategies, entry only when they trigger their own trading conditions, and avoidance of random and emotional transactions.
2、设计自己的盈亏比系统
2. Designing its own profit-and-loss system
只有符合系统的盈亏比出现时才交易，不符合不交易。
Transactions are made only when the profit/loss ratio for compliance with the system appears and are not.
3、止盈止损系统要合理
3. Reasonability of the system for the cessation of wear and tear
根据不同阶段行情的性质，需要定制自己的止盈止损系统，做到贴合市场，有利高效。
Depending on the nature of the different phases, it is necessary to customize its own winding-down system to be market-friendly and efficient.
4、仓位控制合理
4. Reasonable position control.
在下单的同时，就考虑好仓位，在最确定的时机下足够的仓位，避免后期加仓抬高成本。
At the same time as the order is made, the position is considered to be sufficient at the best of times to avoid the increased costs of late loading.
5、向市场认错
5. Mistaking the market
当按照自己的系统下场交易后，如果市场运行和自己的预判相左，必须及时认错，不可YY和硬抗，学会敬畏市场，尊重市场，才能活的长久。
When a deal is made according to its own system, if the market operates in contrast to its own predictions, it must be mistaken in time, not YY and hard to resist, learn to fear the market and respect it for the long term.
以上即是本次加密货币合约交易探索的全部内容！希望您能学到新知识。总而言之，加密货币合约交易的探索之旅包括掌握基础知识，了解不同的合约类型，并利用各类型的优势。
This is all part of the search for an encrypted currency contract. I hope you can learn from it.
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