Futures
Why choose Backpack for futures trading?
Unified Cross-Margin Account
Competitive trading fees
Passive Yield from Auto Lending
How to trade futures on Backpack？
Deposit funds into your exchange account (crypto or fiat).
Navigate to the Futures Trading section
Select your desired trading pair (e.g., SOL-PERP)
Choose the trading direction (Buy/Sell)
Select the order type.
Enter the required parameters
Price
Quantity
... (and other necessary parameters)
Optional settings
Post Only: Ensures your order is placed as a maker order and does not take liquidity.
IOC (Immediate or Cancel): Executes the order immediately as much as possible; any unfilled portion is canceled. Suitable for quick entries and exits.
Reduce Only: Ensures your order will only reduce your existing position and will not open a new position or increase the size of the current position.
TP/SL (Take Profit/Stop Loss): Sets predefined price levels at which your position will be automatically closed to lock in profits (TP) or limit losses (SL).
... (and other Optional settings)
Submit the order.
Deposit funds into your exchange account (crypto or fiat).
Navigate to the Futures Trading section
Select your desired trading pair (e.g., SOL-PERP)
Choose the trading direction (Buy/Sell)
Select the order type.
Enter the required parameters
Price
Quantity
... (and other necessary parameters)
Optional settings
Post Only: Ensures your order is placed as a maker order and does not take liquidity.
IOC (Immediate or Cancel): Executes the order immediately as much as possible; any unfilled portion is canceled. Suitable for quick entries and exits.
Reduce Only: Ensures your order will only reduce your existing position and will not open a new position or increase the size of the current position.
TP/SL (Take Profit/Stop Loss): Sets predefined price levels at which your position will be automatically closed to lock in profits (TP) or limit losses (SL).
... (and other Optional settings)
Submit the order.
Fees
Standard trading fees apply to buy and sell orders, which depend on your VIP level or maker/taker status. For more details, please refer to the section on trading fees.
Overview
The funding rate is the rate paid between longs and shorts every 1 hour.
If positive, longs pay shorts, if negative, shorts pay longs.
The countdown shows the time remaining until the next payment.
If you close your position before the countdown ends, you will neither pay nor receive the funding fee.
Settlement Cycle
The funding rate settlement cycle is currently 1 hour.
If there are any changes, they will be updated under “Market Info” for the corresponding token.
You can also check this information before trading.
Calculation
The funding rate reflects market conditions and is not controlled by the exchange.
It is mainly determined by the difference between the perpetual futures price and the spot price, market supply and demand, and borrowing costs.
For details on how funding rates are calculated, please refer to the documentation here.
How to view the Funding History of a token?
On the exchange page, click “More” → “Market Info” →
Click “Funding History”, from the dropdown menu, select the token you want to review. You will see the funding rate details across different timestamps.
To view a line chart of the token’s historical funding rates:
Go to the Order Placement page, select the token from the dropdown menu on the left.
Under the Funding tab, you can see the historical line chart.
Hover over the line to view the funding rate at a specific time.
View Your Funding Payments
Click Portfolio.
Under the Futures tab, click Funding.
Use the dropdown menu on the right to select the token you want to view.
Frequently Asked Questions
How can I view the PnL of a specific position?
On the Order page or the Portfolio page, locate the open position you want to review.
Hover your mouse over “PnL (ROI)” to see how PnL is calculated under different price benchmarks and the corresponding amounts.
Hover over the numbers below to view the Open PnL, Closed PnL, and the All Time PnL for that position.
How to correctly set take-profit and stop-loss orders for open positions
On the Order Placement page or the Portfolio page, locate the open position you want to manage and click the Settings button under the TP/SL tab.
For closing the entire position:
Select “Entire Position.”
From the dropdown menu, set the benchmark for the trigger price.
Enter the trigger prices for take-profit and stop-loss, then click Confirm to complete the TP/SL market order setup.
If you prefer a limit order trigger, check “Limit Price,” fill in the required parameters, and then click Confirm.
For partially closing a position:
Select “Partial Position.”
Manually input or drag the slider to set the quantity you want to close.
From the dropdown menu, set the benchmark for the trigger price.
Enter the trigger prices for take-profit and stop-loss, then click Confirm to complete the TP/SL market order setup.
If you prefer a limit order trigger, check “Limit Price,” fill in the required parameters, and then click Confirm.
For more details on TP/SL, please refer to the documentation here.
How can I view and export my trading history?
Completed Order History
Go to Portfolio → under the Trades tab, select Fills.
From the dropdown menu on the right, choose the corresponding token to view completed orders.
Hover your mouse over “13 Days Ago” to see the exact completion timestamp of the order.
If you need to export data for analysis, click the cloud icon under Export.
Order Placement History
Go to Portfolio → under the Trades tab, select Order History.
From the dropdown menu on the right, choose the corresponding token to view your order placements and the price levels at which they were submitted.
Hover your mouse over “13 Days Ago” to see the detailed timestamp of the order placement.
If you need to export data for analysis, click the cloud icon under Export.
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