MoneyX Trading Guide
This guide provides a comprehensive overview of trading perpetual futures on MoneyX, a decentralized exchange built on the Binance Smart Chain (BSC). Designed for both novice and experienced traders, this page explains the mechanics of trading, key concepts, and step-by-step instructions to help you navigate the platform with confidence. Whether you’re speculating on price movements or leveraging up to 100x, MoneyX offers a robust and transparent trading environment. Let’s dive into the details.
What Are Perpetual Futures?
Perpetual futures are derivative contracts that allow you to speculate on the price of cryptocurrencies without owning the underlying asset. Unlike traditional futures, perpetual futures have no expiration date, giving you flexibility to hold positions as long as your collateral supports them. On MoneyX, you can trade perpetual futures for BTC, ETH, BNB, SOL, XRP, and DOGE, all paired against USD.
Key Features of MoneyX Trading
Leverage: Amplify your position with up to 100x leverage (e.g., $100 collateral controls $10,000 at 100x).
Long and Short Positions: Bet on price increases (long) or decreases (short).
Low Fees: Competitive trading fees (e.g., 0.0099% hourly borrow fee) and minimal BSC gas costs.
Market and Limit Orders: Execute instantly at market prices or set specific entry prices.
Liquidity: Backed by the MLP liquidity pool for smooth trades and minimal slippage.
Oracle Pricing: Real-time, accurate mark prices via the VaultPriceFeed contract for fair settlements.
Supported Assets
MoneyX supports perpetual futures trading for the following cryptocurrencies, paired against USD:
BTC (Bitcoin)
ETH (Ethereum)
BNB (Binance Coin)
SOL (Solana)
XRP (XRP)
DOGE (Dogecoin)
Collateral can be deposited in USDT or USDC to fund your trades.
Understanding Key Trading Concepts
To trade effectively on MoneyX, familiarize yourself with these terms:
Collateral: The funds you deposit to open a position (e.g., USDT or USDC). This acts as your margin and determines your position size based on leverage.
Leverage: The multiplier applied to your collateral to increase market exposure. For example, $100 at 10x leverage controls a $1,000 position.
Entry Price: The price at which you open your position.
Mark Price: The current market price of the asset, determined by oracles to ensure fair valuation.
Liquidation Price: The price at which your position is automatically closed to prevent negative account balance. It depends on your collateral, leverage, and position direction.
Borrow Fee: A small hourly fee (0.0099% per hour) charged on leveraged positions to maintain platform stability.
Funding Rate: A periodic fee paid between long and short traders to balance market dynamics. Positive rates mean longs pay shorts; negative rates mean shorts pay longs.
Slippage: The difference between your requested price and the executed price, minimized by MoneyX’s liquidity pool.
PnL (Profit and Loss): Your unrealized (open position) or realized (closed position) profit or loss, calculated as:
PnL = (Current Price - Entry Price) × Position Size (for Long)
PnL = (Entry Price - Current Price) × Position Size (for Short)
How to Trade on MoneyX
Follow these steps to start trading perpetual futures on MoneyX. This guide assumes you’ve connected your wallet and funded it with BNB (for gas) and USDT/USDC (for collateral).
Step 1: Access the Trading Dashboard
Navigate to https://moneyxpro.com.
Connect your BSC-compatible wallet (e.g., MetaMask, Trust Wallet) and ensure it’s set to BSC Mainnet (Chain ID: 56, RPC: https://bsc-dataseed.binance.org/).
Go to the Trade tab on the MoneyX interface.
Step 2: Deposit Collateral
Click Deposit on the dashboard.
Select your collateral currency (USDT or USDC).
Enter the amount and approve the transaction in your wallet.
Funds will appear in your MoneyX account balance, ready for trading.
Step 3: Open a Position
Select Asset: Choose your trading pair (e.g., BTC/USD) from the dropdown menu.
Choose Position Type:
Long: Profit if the asset’s price increases.
Short: Profit if the asset’s price decreases.
Set Leverage:
Use the leverage slider (1.1x to 100x). Beginners should start low (2x–5x) to manage risk.
Higher leverage increases potential returns but also liquidation risk.
Specify Order Type:
Market Order: Executes instantly at the current mark price.
Limit Order: Executes only when the market reaches your specified price.
Trigger Order: Sets a conditional entry based on a predefined price trigger.
Enter Collateral:
Input the amount of USDT/USDC to commit.
The interface displays your position size (Collateral × Leverage) and estimated liquidation price.
Review Fees:
Check the borrow fee (0.0099% per hour) and any applicable network gas fees.
Ensure sufficient BNB for transaction costs.
Confirm Trade:
Click Long or Short to submit.
Approve the transaction in your wallet.
Your position will appear in the Positions tab.
Step 4: Monitor Your Position
View your open positions under the Positions tab, showing:
Size: Total value of the position (Collateral × Leverage).
Net Value: Current value after accounting for PnL and fees.
Collateral: Your deposited margin.
Entry Price: Price at which you entered.
Mark Price: Current market price.
Liquidation Price: Price at which your position will be closed.
Monitor unrealized PnL in real-time to assess performance.
Step 5: Close or Adjust Your Position
Close Position:
In the Positions tab, click Close next to your position.
Choose to close fully or partially.
Confirm the transaction to realize your PnL, minus fees.
Adjust Collateral:
Add or withdraw collateral to manage liquidation risk.
Navigate to the Positions tab, select Edit, and adjust as needed.
Set Stop-Loss or Take-Profit:
Use trigger orders to automatically close positions at predefined prices.
Set via the Orders tab, specifying stop-loss (to limit losses) or take-profit (to lock in gains).
Advanced Trading Features
Leverage Mechanics
Leverage amplifies your exposure but requires careful management:
Formula: Position Size = Collateral × Leverage.
Example: $100 collateral at 10x leverage = $1,000 position size.
Liquidation Risk: Higher leverage reduces the margin for price movement before liquidation. The liquidation price is calculated as:
For Long: Liquidation Price = Entry Price × (1 - (1 / Leverage) + Maintenance Margin)
For Short: Liquidation Price = Entry Price × (1 + (1 / Leverage) - Maintenance Margin)
Maintenance margin is a small buffer (e.g., 1%) to cover fees and volatility.
Order Types
Market Orders: Best for quick entries/exits but may incur slight slippage in volatile markets.
Limit Orders: Ideal for targeting specific entry/exit prices, though execution isn’t guaranteed if the market doesn’t reach your price.
Trigger Orders: Automate entries or exits based on price thresholds, useful for stop-losses or take-profits.
Funding Rates
Funding rates balance long and short positions:
Paid every 8 hours, based on market skew.
If longs outweigh shorts, long traders pay a small fee to shorts, and vice versa.
Check current rates on the Stats Page.
Risk Management
Start Small: Test with low leverage (2x–5x) to understand market dynamics.
Use Stop-Losses: Protect against unexpected price swings.
Monitor Liquidation Price: Ensure your collateral covers adverse price movements.
Diversify: Avoid over-concentrating on one asset or position type.
Platform Contracts
MoneyX’s trading infrastructure is powered by audited smart contracts on BSC, ensuring transparency and security. Key contracts include:
Vault (0xeB0E5E1a8500317A1B8fDd195097D5509Ef861de): Manages collateral and position settlement.
Router (0x301018DAA6788775b4A500ef3228dB14E0d6A5a7): Facilitates trade execution.
VaultPriceFeed (0x31086dBa211D1e66F51701535AD4C0e0f98A3482): Provides real-time oracle pricing.
OrderBook (0x6b448DF5a0E6BcA35e76e50D9CD53BEA3caa7efa): Handles limit and trigger orders.
PositionManager (0x62dEFAA710dcd1dA4d9231E1EED1fb16c2278CCF): Manages position creation and closure.
For a full list of contracts, refer to the Contracts & Security page (to be developed).
Fees and Costs
Borrow Fee: 0.0099% per hour, applied to leveraged positions.
Execution Fee: Minimal BSC gas fees for opening/closing positions (paid in BNB).
Swap Fee: Applied when converting collateral (e.g., USDT to USDC), typically 0.2–0.8% based on liquidity.
Funding Fee: Variable, based on market conditions (check Stats Page).
Monitoring and Analytics
Dashboard: View positions, orders, and trades in real-time.
Stats Page: Access platform-wide metrics like TVL, volume, and open interest at https://stats.moneyxpro.com.
Chart Positions: Visualize price movements and position data directly on the trading interface.
Risk Disclosure
Trading perpetual futures involves significant risks:
Market Volatility: Cryptocurrency prices can fluctuate rapidly, impacting PnL.
Leverage Risk: High leverage can lead to liquidation if the market moves against you.
Smart Contract Risk: While audited, contracts may have vulnerabilities. Review our security measures on the Contracts & Security page.
Loss of Capital: Only trade with funds you can afford to lose.
MoneyX is not a financial advisor. Conduct thorough research before trading.
Support and Community
For assistance or to join the conversation:
Telegram: BESC LLC Portal for support and community updates.
Twitter: Follow @bescllc for news and insights.
Website: moneyxpro.com for platform access.
Next Steps
Ready to trade? Head to moneyxpro.com, connect your wallet, and start exploring the markets. For deeper insights, check the Stats Page or join our Telegram community.