I want to trade. Where should I start?

Copy link

We recommend reading a bit before choosing the coin to start trading. On Changelly PRO, we’ve put together a few tips and tricks for someone to get started on their trading journey with crypto.

After reading these articles, depositing some crypto to your account and choosing or creating your trading strategy, you’ll be ready to place an order. Please read the guide on how to start trading: “A guide on your first trade” below.

Enjoy your trading with Changelly PRO!

A guide on your first trade

Copy link

1. Transfer your assets to your trading account.

Open the “Wallet” tab. To transfer your funds click the “Transfer” button near the currency you’d like to trade with.

Then enter the amount you wish to transfer and press the “Transfer” button.

2. Create an order.

After the money has been transferred to your Trading account, please open the trading terminal and the “Markets” tab right after that. Choose a trading pair and set up an order.

There are five types of orders on ChangellyPRO:

  • Market
  • Limit
  • Stop
  • Stop-limit
  • Scaled

A brief description of each type appears when you hover over the question mark next to their names.

On the screenshot below you see the market order for 0.01 BTC purchase on the BTC/USDT market.

Click the “Buy Market” button to start a trade.

If you would like to check the details of your trade, please view it in the “My Orders and Trades” block on the “Trade” page. Note: cancelled/rejected orders are displayed here only for 24 hours.

What is long and short trading?

Copy link

These are the terms that came to the crypto market from the traditional stock market trading. The words “long” and “short” here determine whether a trade originates from buying first or selling first. A long trade means that you buy an asset and want to sell it afterward, when its rate goes up, to make a profit. 

As for a short trade, it means that you sell an asset and plan to re-buy it later, when its price goes down so that you could gain some profit.

Some trading platforms and day traders may use the words “buy” and “long” instead of one another. The same is for “sell” and “short”. 

Another pair of terms that may be used instead of the “long” and “short” is the “bull” and “bear.” 

What is the trading minimum at Changelly PRO

Copy link

Limitless exchanges are very hard to handle, as it becomes almost impossible to conduct market analysis or trade. 

The minimum amount that can be bought or sold via trading platforms is called a lot. Changelly PRO sets a minimum (or lot) amount for each traded pair. For example, the BTC lot is 0.00001 BTC. You can check the lot size in the “Buy” section on the “Trade” page. The minimal amount you can choose in the “Amount” field represents the lot size for the chosen asset. Just click the upward arrow in this field when the field is empty to see the minimum amount. 

If you cannot sell your crypto, as your amount is less than a lot amount, you can initiate the following operations:

  • Withdraw your assets 
  • Keep the assets in your account for a more favorable future
  • Buy the missing amount

Trading fees

Copy link

Changelly PRO’s trading fees are flexible and easy to understand. You get lower trading fees when your trading volume increases. Once your volume reaches a certain point, we even start paying you for your trading!    

We use a trading fee tier system, rewarding community members for high-volume trading. The first reward level is applied to 30-day trading volumes below 10 BTC, the fees for this level have been decreased from 0.1% for makers and 0.2% for takers to just 0.07% for both categories. The fees for standard accounts are fixed at 0.1% Maker Fee and 0.2% Taker Fee.    

The information on your 30-day trading volume is calculated every day at 00:00 UTC. Based on the results, our system updates your fee tier. If the tier changes, your new fees will be available within an hour.

At Tier 9 and 10 you will start earning 0.01% of each completed trade if your order was included in the Order Book (if you’re a maker of liquidity).    

For more information on fee levels, please refer to the table below. You can also find this data in the Fee tier section, along with your current trading volume and fee rates.

Basic Crypto Trading Tools on Changelly PRO

Copy link

To make cryptocurrency trading on Changelly PRO easier, we have a bunch of helpful tools and indicators. We hope it’ll help all new traders make better decisions when placing orders. This article helps you learn how to perform your trades and to get a better understanding of trading terms.


Price chart

Copy link

Here you can see the price chart of the currency pair you chose (you can change the traded currencies in the Instruments section to the right of the chart). This is a candlestick chart. Every candlestick represents the selected timeframe. At the top of the chart you can select the periodicity: m1;m3;m5;m15;H1;H4;W1;M1.

So if you chose W1 that means that one candle will show you the price movements within a 1 week period. The candles may either be red or green depending on whether the price moved down or up from the starting time point of the candlestick period. The long lines at the top and at the bottom of the candles are called shadows. The shadows show the highest or lowest price during the period corresponding to the candlestick. The body (the broader part or the candlestick) shows the price the candlestick was opened and closed at. Thus, a green candlestick’s opening price is at the bottom of the body and its closing price is at its top. For red candles it’s the opposite.

You can zoom in and out using the +/- buttons in the upper right corner of the chart.

Placing trades

Copy link

At Changelly PRO you can use two types of orders:

1. Market price order – with this order type you can both buy and sell at the current market price corresponding to the moment when you place the order.

2. Limit order – when you create an order of this type you can determine at what price you want to buy or sell. For example, if you set your limit to buy currency at $300 the transaction will be performed when the price reaches $300. As for selling, the process is the same – your currency will be sold automatically at the price you choose, when the currency reaches this price.

You can choose the market you’d like to trade on in the “Instruments” section. The section is located to the right of the chart.

First click the primary cryptocurrency tab (BTC, ETH, USDT, DAI, TUSD, EURS, EOS) and you will see the list of all markets available for this coin.

Price changes over the last 24 hours are displayed in the “Change” column.

By clicking the star-shaped button to the left of a coin name you can quickly add any pair to the Favorites tab for fast access.

Other instruments

Copy link

Below the Buy and Sell sections you have the Order Book, which is a list of limit orders that have been placed by traders, but haven’t been executed yet.

The Time & Sales section shows the 50 latest trades which were placed on our platform. These are the trades for the currency pair you are currently viewing. Market Depth illustrates the size of an order needed to move the market price by a certain amount. In case the market is deep, you would need a large order to see a price change.

Trading View

Copy link

The Trading View mode is designed for experienced traders. You can switch to Trading View chart at the top left corner of the chart. There you get access to many other tools and indicators. Let’s take a closer look at the tools available in this view.

  1. At the top you can select the periodicity of your chart.
  2. Next to the periodicity button, you can select the type of the chart. The candlestick chart is the most popular and commonly used in the trading world, but you can find the one which would be more preferable and helpful for your needs. The available options are: Bars chart, Candles, Hollow Candles, Line chart, Area chart, Heiken Ashi and Baseline.
  3. In the settings tab in the upper right corner, you can customize the colors of your charts. Here you can also set your timezone.
  4. At the top left corner of the chart you can set the indicators. Here you have a lot of other useful indicators to choose from. Find the ones that would be the best for your strategy and apply them to your charts. These will help you with the technical analysis.

To the left of the chart you can select various tools to help your trading. You can draw pitchforks, set support & resistance levels and also draw trend lines and corridors. You can also determine patterns, projections and forecasts. The Trading View has various tools for an advanced trader.

If you’re a beginner, we suggest that you choose a trading strategy or create your own one by combining some of the existing strategies and use it alongside the trading tools and indicators that would help you to properly apply this strategy and to make it as profitable as possible. To get a better understanding of the trading strategies, please take a look at the “Trading” section in the Changelly PRO Knowledge Base.

Where to buy crypto?

Copy link

Changelly PRO supports lots of cryptocurrencies for exchange. To get access to the crypto-exchange, you will first have to deposit funds into your account. To do so just open the “Account” tab or click the green “Deposit” button in the upper right corner on our website. Then click “Deposit’ in the row corresponding to the currency you’d like to send to your account.

What if I don’t have crypto yet?

You can also buy crypto with a bank card or a bank transfer and have it automatically deposited to your Changelly PRO account. To do so go to the “Buy crypto” section. There choose the fiat currency you’d like to purchase crypto with, the crypto you want to buy, set the purchase amount and choose an available purchase provider and the payment method. After you set all the parameters, click the green “Continue” button. You’ll be redirected to the chosen provider’s widget. Follow the further steps in the widget. 

You’ll be asked to provide your phone number and your email address. Also, please note that you’ll need to verify your identity. To pass the verification procedure you’ll need to upload the photo of your passport or the national ID and a selfie with the document. 

After the verification and the purchase itself is completed, the cryptocurrency will be deposited to your Changelly PRO account. To check the account balance open the “Wallet” section. 

If you don’t see the crypto you want to buy at Changelly PRO, you can buy it at Changelly. The possible payment methods are Visa, Mastercard, Apple Pay and bank transfers. When you purchase your crypto on Changelly, just enter your Changelly PRO wallet address as a recipient and you’ll have your crypto stored in your Changelly PRO account after the purchase is completed.

Crypto trading strategies

Copy link

In order to increase profits and minimize losses it is essential to have a good, well-tested trading strategy.

Every cryptocurrency trading strategy requires a predefined crypto or fiat-to-crypto pair, money management rules, and entry/exit points. Please keep in mind that a trading strategy that is too aggressive or excessively risky may turn extremely unprofitable.

As well as traditional financial markets’ strategies, cryptocurrency trading ones are based on fundamental or technical analysis, or both. To gain profit from your trading you should thoroughly study these techniques, attentively analyse the market and have a thought-out and verified trading strategy. You can create your own strategy or combine the existing ones.

What is spot trading?

Copy link

A spot trade or spot transaction, famously recognised in the forex world, refers to the purchase or sale of a currency, financial instrument or commodity for instant delivery on a specified spot date. In the crypto world, this would directly refer to the purchase or sale of a cryptocurrency between two parties, buying one token against selling another token at an agreed price for settlement.

Long and short trading

Copy link

These are the terms that came to the crypto market from the traditional stock market trading. The words “long” and “short” here determine whether a trade originates from buying first or selling first. A long trade means that you buy an asset and want to sell it afterwards, when its rate goes up, to make a profit. As for a short trade, it means that you sell an asset and plan to re-buy it later, when its price goes down, so that you could gain some profit.

Some trading platforms and day traders may use the words “buy” and “long” instead of one another. The same is for “sell” and “short”.

Another pair of terms that may be used instead of the “long” and “short” is the “bull” and “bear.”

Bullish and bearish markets

Copy link

If a trader supposes that the price of a certain crypto will go up, it’s called being bullish. When saying “I’m bullish on BTC,” a trader usually means they believe the coin’s price will keep increasing. It can also mean that they’re buying BTC. Bullish, bull, and long are often used interchangeably. A crypto trader may say “I am long” or “I am a bull” meaning the same thing.

Being bearish is the opposite. The “bearish” trader thinks that the price of a crypto-asset will fall. It may mean both the belief and an action. If they act, they may sell the crypto assets they own, or, in other words, “go short.”The origin of these terms is believed to come from the way the animals attack their opponents. A bull thrusts its horns up into the air, while a bear swipes its paws downward. These actions are metaphors for the movement of a market. If the trend is up, it’s a bull market. If the trend is down, it’s a bear market.

In case you’d like to perform a Bearish or Bullish (or long and short) trade, please make sure that it is to be based on thoroughly tested trading strategies.

Day trading strategy

Copy link

Day trading is a very short-term trading. An asset may be held for just a second or ten, to a few hours. The main purpose when using this strategy is to sell your digital asset before the end of the day, hopefully making a small but quick profit.

To form your own day strategy you’re supposed to gather techniques from other proven strategies that are suitable for you. Be careful with the people in the Internet who may offer trading signals or other algorithms that as they say would make your trading profitable. To make it actually profitable you should learn all you can about market volatility, about fundamental and technical analyses, how to read a candlestick chart, etc.

Crypto swing trading strategy

Copy link

The main difference of crypto swing trading from day trading is that it relies on slightly larger periods of time: not 24 hours, but a couple of days, for example. As a rule, the fluctuations happening over two days are more significant compared to market changes of one day. Swing trading is aimed at converting these larger fluctuations into larger benefits.

The approaches of day trading and swing trading differ in the number and volume of trades. Those who prefer day trading make many transactions per day, gain a small profit for each one and receive an acceptable profit at the end of the day. Those who participate in swing trading make trades less frequently, but send bigger amounts. Of course, such amounts are involved in a higher risk. Therefore, you need to pay enough attention to the study of this area.

How to read crypto order books

Copy link

After a trader understands the principles of technical and fundamental analysis, they should learn to read the order books.

An order book is a tool that displays the interests of people who want to buy or sell a particular asset: bids and asks.

A bid is how much a buyer wants to pay for a certain amount of an asset, and an ask is how much a seller wants to receive for a certain amount of an asset.

In the left column of the order book on Changelly PRO you see the bids for people buying a certain currency and in the right column you see the asks for people selling it. The “Amount” column represents how much of the asset is being bought or sold.

It is important to know how to read order books, because they indicate “the market health” of an asset. A dynamic order book is a sign of a high liquidity and resistance to pumping and dumping. When an order book is active, the crypto can be bought or sold without any significant rate fluctuations.

How to read a candlestick chart

Copy link

A candlestick is a type of price chart used in technical analysis that displays the high, low, open, and closing prices of an asset for a specific period. The wide part of the candlestick is called the “body” and tells traders whether the closing price was higher or lower than the opening price (red if the closing price was lower than the open one, green if the closing price was higher).

An asset’s price fluctuations are measured with four main metrics: “open,” “high,” “low” and “close”.

“Open” and “close” metrics display the asset price at the beginning and the end of a selected time period; “high” and “low” metrics show the maximum and the minimum price of the asset during the period.

Let’s look at the candlesticks:

  • the ends of the wick are the highs and the lows
  • the body of the candle is formed by the opening and the closing prices

Green candles mean a net gain, while red candles show a net loss.

What is Relative Strength Index (RSI)?

Copy link

RSI is an indicator which is used to measure the speed and the magnitude of recent price movements.

The RSI is applied to compare recent gains and recent losses, and as a result, helps to determine whether a currency is overbought or oversold on a scale from 0 to 100. An asset is oversold when the value is below 30 and overbought when it lies above 70.

What are technical and fundamental analyses?

Copy link

The technical analysis is a type of financial analysis when we 1) look at how currencies, identical to the one that interests us, performed in the past 2) make predictions according to these historical performances.

Basically, we compare the market performance of an asset and the market performance of comparable assets.

The fundamental analysis is a type of financial analysis that focuses on the inherent value of a project.   This approach is more widely used in traditional trading where turnover is quick and projects are more obvious. However, it’s suitable for some cryptocurrencies too. In this case, you have to focus on the value of the currency itself and the power of its project.

What is Crypto Perpetual Futures Trading?

Copy link

Futures contracts

Crypto futures are contracts representing the value of a certain cryptocurrency. When you trade on a futures market and buy a futures contract, you do not possess the cryptocurrency associated with it. Instead, you own a contract proving you have agreed to buy or sell a particular cryptocurrency at a later date.If you have a futures contract, you can open a 1 BTC futures position at a portion of its market value. The contracts allow you to profit from short-term price movements regardless of the movement direction. Even if the BTC price goes down, you can participate in the downtrend and get profit as prices continue to go lower. The contracts can also be used to secure your funds against unexpected risks and extreme price volatility.

Short and long positions in Futures Trading

To go short when trading futures means speculating that an asset’s price will drop. You will make profits if the price falls during the period of the contract, and you close your position on time. Therefore, such a position is called a “short position”. The profit which may be derived from a trade is usually based on the total size of the price reduction. Opening a short position can also be referred to as being bearish on an asset.Going long when trading futures means speculating that an asset’s price will increase. You make a profit from a trade if your assumption on the direction of the price is accurate. Opening a “long position” can also be referred to as being bullish on an asset.

Futures premium

The price of the futures is based on the prevailing spot price and the futures premium. A positive premium shows that the futures price is higher than the spot price and a negative premium in its turn shows that the futures price is lower than the spot one. The premium will change in case of any supply and demand fluctuations.

Perpetual futures contracts

The main difference between a perpetual futures contract and a standard one is that the former doesn’t have an expiration date. Therefore, a trader can hold a position for as long as they like. Aside from that, the trading of perpetual contracts is based on an underlying Index Price. The Index Price is calculated in accordance with an average price of an asset which is determined by major spot markets and their trading volumes.

Perpetual contracts, as opposed to traditional futures, are often traded at the prices equivalent or extremely close to the prices on spot markets. However, the asset price may differ from the spot market price in exceptional market situations.

Funding Fee

Copy link

The Funding Fee is a fee paid to traders. The fee is calculated based on the difference between the perpetual contract prices and spot prices.

In a bullish market the Funding Rate is positive and is usually going up further. In these circumstances traders who have long positions will pay a Funding Fee to traders having short positions. When the market is bearish, the funding rate is negative, and the traders holding short positions will pay a funding fee to the long position traders.

The main reason for Funding Fees is to make the perpetual contract and the associated asset’s prices align. Since perpetual contracts, unlike traditional futures, have no expiration date, crypto exchanges developed this system to make perpetual contract prices match the index price. This mechanism is also known as the Funding Rate.

Futures contracts can be traded at a price different from the Mark Price. Mark Price is the price used to decide whether to liquidate a position: the Mark price is compared with the liquidation price. When compared to the trading price, the Mark Price is an estimate for a genuine value of a contract.

If a contract is traded at a price that differs from the mark one, the Premium Index will be used to raise or lower the Funding Rate in the next funding period. The Interest Rate, that is the difference between the rates of the base and quoted currencies, and Premium Index are calculated every minute and stored in a time series. Then this series is used to calculate the time-weighted average value for a time period equal to the funding period. 

The resulting averaged Interest Rate and Premium Index values are applied to calculate the funding rate according to the following formula:

  • rf is a Funding Rate;
  • ip is an Average Premium Index;
  • ri is an Average Interest Rate (currently it is fixed at 0.01% per funding period).

Then the Funding rate is applied to the Mark price of the position to calculate the Funding Fee.

The Funding Fee is charged and paid every 8 hours. The time before the next Funding is displayed on the chart (see the screenshot below).

The Funding fee or the charge is paid, when the countdown counter reaches 0. Therefore, if you opened a position after the counter started, and it was closed before the counter expired, you will neither pay nor receive the funding.

The amount of the fee depends on the Funding Rate. The higher the Funding Rate, the higher the Funding Fees.

The rate polarity shows the payment direction, and the rate number shows the payment volume.

If the Funding Rate is greater than 0, for example, 0.05%, and it’s the Funding time, traders with open long positions will pay 0.05% from the size of their position (by Mark Price) to the traders holding short positions.

If the Funding Rate is less than 0, traders with short positions pay to the traders holding long positions.

The Funding is charged or paid to a certain contract, that is to the trader holding this contract. Changelly PRO receives no profit from the Funding payments, all payments of this kind are processed directly between our traders.

Perpetual Futures. Your First Trade Step by Step

Copy link

1. Get prepared

Before starting your first trade, please make sure that your PRO account is ready to go.

Here are 3 preliminary procedures you need to complete:

1.1. check the 2-factor authentication of your account. 2FA is the basic requirement to trade futures.

1.2. top up your derivatives account – at this step, you need to reserve the funds intended for futures trading only;

1.3. set the margin – the amount that will serve as collateral for your trade.

Once these steps are completed successfully, feel free to choose the contract and initiate your first perpetual trade.

1.1. How to Top Up the Derivatives Account?

In order to trade futures, you need to reserve some Tether (USDT) amount that will serve as a collateral for your trade. It must be transferred to your derivatives account so that this sum cannot be used in spot trading. So, basically, you need to put some amount aside by transferring it from your main account. It can be performed in just 3 steps:

1.1.1. Check your USDT balance – the balance must be positive and available on your Spot Account / Wallet. Click the ‘Wallet’ tab:

1.1.2. In the ‘Wallet’ tab, the ‘Transfer’ button is placed to the right.It looks like this:

Click ‘Transfer’.

1.1.3. At this step, you’ll see the pop-up allowing you to select the source account and the destination account.

To transfer the collateral amount that has to be reserved, please select Spot or Wallet in the ‘From’ field, and ‘Derivatives’ account in the ‘to’ field. Enter the amount you would like to reserve as collateral and click the ‘Transfer’ button to proceed:

1.2. How to Set the Margin? 

1.2.1. To set the margin, open the ‘Futures’ tab to find the ‘Contracts’ menu to the right. Thanks to this widget, you’ll see the full list of the contracts available at the moment:

1.2.2. In the upper right corner of the display, you’ll see the ‘Margin wallet’ button. It serves to set the margin – the collateral for your future trade.

This is an obligatory requirement, so click ‘Margin wallet’ to specify the amount and reserve it so that it can support your future trade.

In the ‘Add Margin’ section, you need to fill in the following details:

  • amount – this is the exact amount that will be taken from your derivative account to be used as collateral;
  • leverage (up to x100) – this is the ratio of your own amount involved to the entire amount required to set a trade. This extra amount – leverage – is supplied by our platform. As a result, you can open way larger trades than those that can be funded by your own money only.

2. How to Make Your First Perpetual Futures Trade?

2.1. Open the ‘Futures’ tab. This is the same tab you used to set the margin. As you already know, the contracts available are listed to the right.

2.2. Scroll down to the ‘Buy/Sell’ widget in the ‘Futures’ tab.

2.3. Select either Long (Buy) or Short (Sell) option, depending on your strategy.

Both Long and Short contracts can be executed as either Market or Limit orders:

Market order

The trades of this type are completed at the real-time market price. The best available offer is chosen to complete the trade. Since market rate is volatile, the preliminary price as well as the fee is announced as an estimation only, not the exact figure.

Limit order






In this case, the trade can only be completed once the price reaches the exact figure set in advance, or is better.

 There are a few sub-types of the Limit order, depending on the terms of their cancellation:


Remains pending and does not get cancelled before the presumed price is reached. No time limit.


If the contract cannot be fulfilled within a day (till 00:00 UTC), it is liquidated automatically.


Liquidation time is selected by the trader.


Such order must be fulfilled in full and immediately. If it’s impossible, the contract is liquidated automatically. No partial execution available.


Immediate execution only. Partial execution available, i.e. only the lots that can be immediately sold at the price set will be completed. The remaining ones will be cancelled.

Scaled order

This is a pack of independent smaller orders within the particular price range. The price range is set by the trader. The orders vary from minimum to maximum price, and can be distributed upscale, downscale, or continuously.


2.4. Set the following parameters:


The exact amount in question that is intended to be sold or bought according to the contract

Price (relevant for limit orders only)

Once the asset’s price reaches this mark, the trade will be completed.

%% Indicator

With this marker, you can set the amount to of your own funds reserved for the trade not as the number but as a percent of your entire Buying Power


This is the full sum you are about to spend (sell) or receive (buy) upon completion of this particular contract.


2.5. Having filled in the fields above, please check the parameters that are calculated automatically and filled in by the system based on the figures you provided earlier:


This field is filled in based on the ‘Amount field’, so here you will see the sum you are selling or buying in the course of this exact contract.

Buying Power

Here, you can see the entire sum that is available to spend within your account.

In Orders

This amount represents the sum that has already been reserved to fulfil the existing orders you created.

Best Bid/Ask

In this field, the best price available is displayed; this data is collected by the system automatically based on the Market Depth.

Liquidation Price / Liq. Price

This figure stands for the liquidation price. It serves to set the point when the contract is automatically cancelled – once the price reaches this point, the contract is cancelled automatically – see. Liquidation (link to the Liquidation article is needed). If the price drops lower, the difference is covered by the means of the collateral.

2.6. Once the parameters are set and accepted, the order is created.

You’ll be able to find it in the widget called ‘My orders and trades’:

TIP: contract’s leverage is not set once and forever once the contract is created. If you wish, you can modify it later.


The contract in this widget has the following parameters:


This field contains the basic parameters of the contract, such as:

  • pair to trade;
  • leverage;
  • position type: long or short.

Position Size

The sum of the currency to be bought or sold.

Entry Price

This is the average market price of the selected pair on the futures market, volume-weighed and corresponding to the market offer at the moment when this particular contract is created.

Price – liquidation price

While creating a contract, the trader sets a price that serves as criterium to cancel the contract automatically.Once the price reaches this point, the contract is immediately liquidated. If, at the moment of the contract’s cancellation, the price is below LP, the funds kept as margin collateral will be used to compensate the difference.


This field displays the proximity of the contract to the liquidation point.

Risk level depends on the leverage implied, too, since the greater leverage portion is, the smaller change in price may result in the contract’s liquidation.

Unrealized Profit and Loss / Unrl.PnL

This P&L amount  shows how much you will gain or lose if the contract is closed immediately at the current market price.If you wish, you can do so at any moment by simply clicking the ‘Close’ button.

Profit and Loss / PnL

This is a calculation of the real profit and loss the contract has resulted in, even if executed only partially:P&L = (Trade Price – Entry Price) * Total Number of Closed Shares.

Auto-Deleveraging / ADL

ADL serves to compensate the losses if the margin collateral is not sufficient to cover them. Normally, it happens in the situation when the rate changes dramatically, so the profits of some traders compensate the losses of the opposite side.

The probability of using this particular contract for ADL is displayed by the corresponding indicator – from  0 to 4.

With maximum probability (4 indicators active for this contract), if the price drops and the margin is not sufficient to serve as collateral and cover the liquidation loss, this contract will be used to cover the loss of the contraposition automatically, as presumed by the ADL mechanism.


The amount of the margin collateral set by the trader for this specific position.

Insurance Fund and ADL mechanism

Copy link

The Insurance Fund’s main purpose is to reduce the number of counterparty liquidations. To do so the Fund uses the collateral from non-bankrupt clients’ fees to compensate losses when their balances fall below zero.

  • If the balance of a trader in liquidation (defined as collateralized maintenance margin) is less than 0 USDT after they liquidate all of their holdings, or if the trader is unable to liquidate positions, the trader is considered bankrupt, and Changelly PRO will have to take over the remaining positions.
  • If the number of such situations on the platform is high, Changelly PRO will take over the positions and slowly dump them onto the market by means of the Insurance Fund. The Insurance Fund will collect liquidation fees from non-bankrupt traders. Counterparty liquidation will occur if the insurance fund is unable to take holdings from the liquidations.

The Insurance Fund will be operating in accordance with the following rules:

1. The fund will have a maximum net notional position check. 

2. The fund will not be allowed to exceed a predefined position notional on the market; by default, this is 100% the size of the insurance fund. 

3. If a position or positions would increase beyond the max notional, the insurance fund will not be able to take holdings from the liquidations, therefore such positions will be subjected to counterparty-liquidation.

4. The insurance fund will offload positions according to a preset algorithm. All events that would normally require actions by the insurance fund will instead go into counterparty-liquidation before the fund could take positions.

If the Insurance Fund cannot cover the losses, they can be covered by means of Auto-Deleveraging, also known as ADL. It is a feature that covers the losses of some traders by the profit of others.

The ADL mechanism operates in case of significant price movements and is applied to the traders who don’t have enough margin collateral to cover their losses.

An indicator near an open contract position (ranging from 0 to 4) shows how likely it is for the position to be used in the ADL procedure (see the screenshot below).

If all indicator cells near the open position are active, and there is a market situation when the liquidation loss cannot be covered, the loss of the opposite side will be automatically covered by this contract. The situations when the ADL procedure needs to be activated are, luckily, rather rare.

Liquidation and Isolated Margin

Copy link


In case the currency pair price on the market (Mark Price) equals the Liquidation Price for a certain contract, this contract will be liquidated.

Before the contract is liquidated, the system will try to close it at the current Market Price:

1. First the system will use part of the margin collateral to cover the loss. In case a part of the collateral remains, it will be returned to the trader.

2. If the loss cannot be covered by margin collateral, the position will be covered by the Insurance Fund.

3. If the Insurance Fund cannot process the position, the system will try to cover the loss with the ADL procedure.

To avoid liquidation, a trader can either close the contract before the liquidation or increase the margin collateral for this contract.

The mechanism also takes potential funding and penalties into account. Hence, if the Funding Rate has increased, and the trader used a high Leverage and they don’t have enough collateral to deduct the Funding Fee from, the position can also be liquidated. Upon liquidation, a penalty of 0.3% of the position volume is deducted from the trader’s account.

Liquidation Price is a dynamic parameter, so in case of any changes on the market or in your position data, the Liquidation Price will change as well. It is calculated as follows:

  • Pe – entry price
  • Mp – position margin
  • Q – position quantity
  • fliq = liquidation fee
  • rf – funding rate
  • n – funding rate
  • rmm – maintenance margin rate

Isolated Margin

Changelly PRO Margin Trading feature uses the Isolated Margin allowing traders to manage the risk on their individual positions by restricting the amount of margin allocated to each one, effectively altering the leverage of that position. If a trader’s position is liquidated in the Isolated Margin mode, instead of their entire margin balance, only the Isolated Margin balance gets liquidated. Also positions that are about to be liquidated can be deterred from being passed on to the Liquidation Engine by adding more collateral.

For instance, if a trader opens a long margin trade on BTC-ETH market with a margin amount of 1 BTC and the 2x leverage, their total order value is 2 BTC and the amount they’re risking is 1 BTC. It also means that in case of the BTC price going down the order will still be open until the BTC price decreases by 50%.

In case the trader assumes that the BTC price will be going up, they may increase the leverage to 10x by decreasing the margin amount accordingly – to 0.2 BTC. Thus, the trader will lower their risks. However, in such a case the position will be liquidated in case of a price drop of 10%.

Chart Indicators on Futures Market

Copy link

Below is the list of the indicators available on the Futures Market.

  • Mark price – the price used to decide whether to liquidate a position, the Mark Price is compared with the Liquidation Price.
  • Index – the Index Price of the selected currency pair. It is calculated according to the data from several other exchange platforms.
  • 24 High – max price during the 24 hours period.
  • 24 Low –  min price during the 24 hours period.
  • Funding Rate – the rate used for the funding calculation.
  • Countdown – the time left before the next funding. The funding payments will be processed, when the indicator drops to zero, and the countdown will start over.
  • Open int (Open interest) – the total currency volume in opened contracts on the market.
Total 0 Votes
1 Step 1

🙏 Sorry about that!

Please, tell us about your experience


Didn’t find the answer to your question?