Position voucher
- Position vouchers allow users to participate directly in live futures trading without having to commit additional funds, and enjoy profits that can be withdrawn.
- The face value of the position voucher represents the position value (i.e., opening margin * leverage).
Position voucher features
- Free to obtain: Receive for free by signing up or participating in exclusive AlphaX events, with no fees required.
- Live trading: Participate in live futures trading directly without using your own funds.
- Flexible use: Decide whether to activate based on market conditions and personal preference. However, please note the validity period of the position voucher.
- Withdrawable profits: The position voucher itself cannot be withdrawn, but profits generated using it can be withdrawn.
Usage notes
- Position vouchers are subject to leverage limits, the default leverage cannot be changed when using the voucher.
- When using the voucher, position holding is subject to a time limit. After the time limit, the system will automatically close the position. Users can also choose to close positions manually before the deadline.
- Only one voucher can be used per trade, and only one voucher position may be held at a time (including bonus vouchers and position vouchers).
- Position vouchers can only be used in isolated margin mode.
- Only market orders are supported to ensure full order execution.
- Position voucher assets are not included in USDT-M futures account equity, and the position risk is calculated independently.
- Some position vouchers only support opening positions on specified trading pairs, see the voucher details for specific rules.
- If the leverage of the position voucher is higher than the maximum leverage of the trading pair, it will be unavailable. Please select another trading pair.
- If the margin amount of the position voucher is lower than the minimum margin amount of the trading pair, it will be unavailable. Please select another trading pair.
How to use position voucher
Click on "Personal center" - "My vouchers" to view available position vouchers.
Select the corresponding position voucher and click "Use" to enter the futures trading page. The system will automatically switch to "Use voucher" mode and select the corresponding voucher. (Click ⓘ to view related rules and details)
You are now in the "Use voucher" panel. Select the position voucher you want to use and click "Open long" or "Open short" to complete the order placement.
After placing the order, click "Positions" to view the corresponding position. You can choose to close it manually before expiry, or wait for the system to close it automatically when the expiry time is reached.
Instructions for use
- Trading restrictions: Position vouchers are subject to trading restrictions, including supported trading pairs, default leverage settings, and market orders only. The default leverage is set by the voucher type and cannot be changed.
- Validity period: Pay attention to both the validity period and the position holding period for the position voucher. Use it within the specified time.
- Position size: Position vouchers cannot be combined with your own funds, and no additional positions can be added after opening a position.
- Closing positions: Only market close or flash close are supported. After closing, the position voucher will be automatically revoked, and the profit portion will be transferred to your futures account.
- Placing orders via candlestick chart: Position vouchers currently do not support direct order placement via candlestick chart.
- TP/SL: Positions opened with position vouchers do not support guaranteed SL, trailing TP/SL, partial TP/SL, or other advanced features.
- Fund history: Fund flows generated from trading using position vouchers are not included in perpetual futures account balance. Only net profit after closing a position will be transferred into the perpetual futures account.
Position voucher revocation
- Unused position vouchers will be automatically revoked after their expiration date.
- If a position using a position voucher is liquidated or closed by ADL, the position voucher will be revoked after the position is closed.
- When closing the position or using flash close, the entire position voucher amount will be revoked.
- After the position holding period expires, the system will automatically close the position and revoke the full position voucher amount.
- If an account is restricted due to risk controls, the system will automatically revoke issued position vouchers, including manually reissued position vouchers. Use position vouchers responsibly to avoid affecting your trading experience.
FAQ
1. What are the status types of position vouchers?
There are three status types: "Available", "In Use", and "Expired". Among them, under the "Available" status, some position vouchers may have an unlock threshold that must be met before use.
2. How can I view my position vouchers?
After successful issuance, you can view them under "My vouchers" "Position voucher", or under "Use voucher" on the futures trading page. When the status is "Available," use it as soon as possible. Once expired, the status will automatically change to "Expired."
3. How is the face value of a position voucher calculated?
Position voucher face value = Opening margin * Leverage. For example, if the margin is 10 USDT and leverage is 10x, the position voucher face value is 100 USDT, meaning you can hold a position worth up to 100 USDT.
4. How are funding fees and trading fees calculated?
The opening fee and funding rate generated when opening a position with a position voucher are covered by the voucher itself.
When a position is closed at a loss, both closing fees and trading losses will be deducted from the position voucher.
When a position is closed at a profit, the closing fee will be deducted from the profit, and the net profit will be transferred to the futures account.
5. Will losses from position vouchers affect my account balance?
No. If a position opened with a position voucher results in a loss or is liquidated, the maximum loss is limited to the position voucher itself. It will not affect your account balance, nor involve your own funds.
6. Why wasn't the full amount of a position voucher used?
Due to market price fluctuations, minimum order requirements, contract size restrictions, trading fees, and other factors, the full value of a position voucher may not be usable.
For example, when placing a market order, if the remaining voucher value is insufficient to meet the minimum order requirement, only the eligible portion will be executed. Any unused amount cannot be used again.
Explanation
1. If any malicious abuse of position vouchers is detected, AlphaX reserves the right to take appropriate action against related accounts and recover any resulting losses. AlphaX reserves the final interpretation right for position voucher events.
2. Some events are only available to users in specific regions. If it is determined that you do not meet the regional requirements, your position voucher may be automatically revoked.
3. Trade calmly and rationally to avoid taking unnecessary risks in pursuit of excessive profits.
4. Trading volume generated from using position vouchers is not included in effective trading volume.
5. We hope you enjoy this feature and have a great trading experience on AlphaX.