ApolloX Lite mode is suitable for novice users or users who do not trade frequency to trade the ALP contract. To experience more sophisticated ApolloX products, users may switch to the classic mode on the ApolloX main page.
1. How to switch to Classic Mode
On the top right hand corner, select [Setting] icon and switch to the desired mode
2. How To Trade？
ApolloX ALP-PERP contracts trading differs from the usual contract model. The transaction price of ALP-PERP contracts is equivalent to the mark price plus platform slippage. That said, the first three ALP-PERP contracts BTCBUSD, ETHBUSD and BNBBUSD will have zero slippage trading, hence their mark price is the final transaction price. This model has a low transaction threshold and no order book, ensuring that users will be able to trade as close as possible to the mark price. Currently, users can only trade ALP-PERP in Lite mode. However, they will be able to close ALP-PERP positions in Classic mode under the ‘Positions’ section.
How to connect wallet?
Users can click “Connect Wallet” on the Trading page to connect their wallet.
Once wallet is successfully connected, select to enter “Lite Mode”
Deposit / Withdrawal
Click on "Assets" in the top right corner to select the Deposit / Withdrawal option.
Opening a position
Users can choose to "Buy/Long" or "Sell/Short" to open their positions with leverage.
- Long position: If the price rises, you will earn a profit. If price falls, you will make a loss.
- Short position: If the price falls, you will earn a profit. If price rises, you will make a loss.
Reminder: When users trade ALP-PERP contracts, they trade directly with the ALP liquidity pool. ALP-PERP does not use an order book and has low slippage. ALP-PERP contract price will be anchored using the current mark price and fixed slippage. (Fixed slippage is mainly used to deter price manipulation)
When the ALP liquidity pool is profitable, it drives up the price of ALP. The main sources of profit are derived from contract trading income, forced liquidation fees, etc.
Please note: The transaction volume contributed by the ALP contract will not be included in the trading rewards activity, however users may use APX as fee deduction.
Position management
Users can check the details of their opened positions such as the opening price, quantity, latest price and forced liquidation price. They can do so by clicking on "Position" located on the bottom of the trading page.
Closing a position
Users can close a part or all of their positions by clicking on "Close Position".
Users can also close positions in "Classic Mode".
Note: In ApolloX Classic Mode, ‘Close all positions’ will not work for ALP-PERP positions. ALP-PERP positions will need to be closed manually.
Transaction Fees
The transaction fee for buying and selling ALP-PERP contracts on the ApolloX platform is 0.07%.
Funding Rate
A Funding Rate is a periodic payment made to long or short traders based on the price difference between the market price of the perpetual contract and the spot price. When the market is bullish, the Funding Rate is positive and long traders pay a funding fee to traders who are short. Conversely, when the market is bearish, the funding rate is negative and short traders pay the funding fee to long traders.
ApolloX does not charge any fees for funding rate transfers, as funds are transferred directly between users. Funding fees on ApolloX are taken every 8 hours at 00:00 UTC, 08:00 UTC, and 16:00 UTC. Traders are only liable for funding payments in either direction if they have open positions at the predetermined funding times. Traders who do not have an open position will not pay or receive any funding.
Note: There is a 15-second deviation between the actual time and the time the funding fee is taken. For example, if you open a position at 16:00:05 UTC, you may still be charged a funding fee. Therefore, it is important that you pay attention to the exact time you open a position.