Which product is right for this use case?
- No leverage needed — Use Spot Trading. Direct asset ownership, no liquidation risk, 750+ pairs.
- Leverage on spot pairs, simpler risk model — Use Margin Trading. Up to 10x leverage on spot pairs (e.g.,
BTC_USDT). No funding rates, no Hedge Mode. - Perpetual contracts, higher leverage, funding rate mechanics — Use Futures Trading. Up to 100x leverage on perpetual pairs (e.g.,
BTC_PERP), Hedge Mode for simultaneous long/short positions, periodic funding rate settlement.
Comparison
| Spot | Margin | Futures | |
|---|---|---|---|
| Instrument type | Spot pairs (BTC_USDT) | Spot pairs (BTC_USDT) | Perpetual pairs (BTC_PERP) |
| Leverage | None | Up to 10x | Up to 100x |
| Liquidation risk | No | Yes | Yes |
| Maintenance Margin Rate | — | 3% for 1x–10x | 3% for 1x–10x |
| Hedge Mode | No | No | Yes — long + short on the same pair simultaneously |
| Funding rates | No | No | Yes — periodic settlement between longs and shorts |
| Available pairs | 750+ | Spot pairs with collateral enabled | 270+ perpetual pairs |
| Balance required | Trade balance | Collateral balance | Collateral balance |
| API endpoints | Spot Trading (/api/v4/order/new, etc.) | Collateral (/api/v4/order/collateral/) | Same collateral endpoints — pair name routes the order |
| Kill-switch | Yes | No | No |
| Bulk orders | Yes (up to 20 per call) | Yes (up to 20 per call) | Yes (up to 20 per call) |
API routing: Margin vs Futures
Margin Trading and Futures Trading share the same API endpoints. The pair name is the only differentiator:- Spot pair (e.g.,
BTC_USDT) → Margin Trading - Perpetual pair (e.g.,
BTC_PERP) → Futures Trading
/api/v4/order/collateral/ and /api/v4/collateral-account/ serve both products. There is no separate “margin” or “futures” parameter in the request body — the market pair name alone determines which product is used.
Both Margin and Futures draw from the same Collateral balance. Leverage is also configured account-wide via a single endpoint — it applies to both products simultaneously.
What’s Next
Spot Trading
750+ pairs, 6 order types, kill-switch, bulk orders. No leverage.
Margin Trading
Up to 10x leverage on spot pairs using the Collateral account.
Futures Trading
Perpetual contracts up to 100x, Hedge Mode, and funding rates.