Contract Trading

CME’s broader crypto futures and options access highlights a basic choice: fixed-expiry regulated contracts or always-on perpetual leverage.

Reduce-only和post-only只是订单界面上的小选项，却分别解决持仓方向和成交方式两类问题。

Reduce-only and post-only look like small order-screen settings, but they solve very different futures trading problems.

持仓模式会改变多空订单的处理方式。设置错误时，本来想对冲的订单可能变成平仓，本来想平仓的订单也可能变成新增敞口。

Position mode changes how long and short orders interact. The wrong setting can turn a hedge into a close, or a close into a second exposure.

现货杠杆是在现货订单簿上借币交易，核心流程是划转、借入、监控保证金水平、还款并核对利息。

Spot margin lets traders borrow assets against collateral, but the key workflow is transfer, borrow, monitor margin level, repay and review interest.

TP/SL工具能帮助自动执行纪律，但触发逻辑、流动性和DEX自动化限制决定了保护是否真正生效。

TP/SL tools help automate discipline, but trigger logic, liquidity and DEX automation limits decide whether the protection works in practice.

永续合约看起来像带杠杆的现货，但资金费率、基差和拥挤仓位可能让不错的图形机会变成低质量交易。