Exchange Rankings

统一账户能提高资金效率，但全仓、逐仓和组合保证金对应的是完全不同的亏损传导方式。

Unified accounts can improve capital efficiency, but cross, isolated and portfolio margin expose traders to very different loss paths.

退出订单选错，可能导致没有成交、过早离场，或者亏损超出原计划。

Choosing the wrong exit order can turn a risk-control plan into a missed fill, a premature exit or a larger-than-expected loss.

Kraken、Coinbase 等合规期货流程，只有把佣金、点差和合约规模放到同一单位里，才有可比性。

Kraken, Coinbase and other regulated futures workflows are easier to compare when traders translate commissions, spreads and contract size into the same unit.

Kraken xStocks、Binance bStocks 和链上平台推动代币化股票增长，但发行人、平台和结算风险仍不能忽视。

Tokenized equities are growing across Kraken xStocks, Binance bStocks and other onchain venues, creating opportunity but also issuer, venue and settlement risk.

全仓和逐仓不是新手标签，而是决定账户有多少资金可以用来支撑同一笔仓位的两种方式。

Cross and isolated margin are not beginner labels; they are different ways to decide how much of the account can be used to defend a position.