A cash voucher is a reward issued by AlphaX. You can view and use cash voucher in your futures fund account. Cash vouchers can be used together with your own funds as futures margin, or used to offset trading losses. If certain conditions are met, the cash voucher may be converted into real assets, which you can then transfer or withdraw. If the conditions are not met, the cash voucher cannot be transferred or withdrawn. However, any profits generated from trading with the cash voucher remain yours.
How to use cash vouchers
1. How to find cash vouchers
Auto distribution: Once issued, cash vouchers will be automatically transferred to your futures account as available funds.
Manual claim: If your account does not meet the following conditions, you will need to manually claim the cash voucher: no open perpetual futures positions or pending orders, no trial funds or cash vouchers in use.
Website
(1) Log in to your AlphaX account, click "Rewards Hub" in the navigation bar, then click "My vouchers".
App
(1) Open the AlphaX app, tap the nine-dot menu icon in the top-left corner of the homepage, and select "My vouchers".
(2) Select "Cash voucher" and tap "Claim".
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Claiming and unlocking cash vouchers
Auto distribution: If your account meets the required conditions, funds of the cash voucher will be automatically transferred to your futures account.
Unlock requirements: If a cash voucher has unlock requirements (for example, requiring your account balance to reach a certain amount), you must meet these conditions before claiming the voucher. In most cases, the unlock requirement is that the holding asset balance (wallet balance - trial funds - cash vouchers, excluding unrealized PnL) ≥ cash voucher threshold.
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Using cash voucher funds
Validity period: Cash vouchers have two deadlines: a claim period and a usage validity period. Make sure to claim and use the voucher within the specified time limits.
- Cash voucher deductions:
Cash vouchers may be configured to offset losses, funding fees, and trading fees. When a cash voucher is used, deductions will be made proportionally from both the voucher balance and your own funds. You can view deduction details in the "Fund history" on the trading or order page. The deduction ratio for each fee type depends on the specific configuration of the cash voucher at the time of issuance. Review the voucher details carefully before use. To help explain how cash vouchers are allocated and deducted, see the simplified examples below:
| Scenario | Deduction from your funds | Deduction from voucher | Deduction logic |
| 0% fee offset | 0% | 100% | The voucher is used first. Your own funds are used only after the voucher balance is exhausted. |
| 30% fee offset | 70% | 30% | Fees are deducted proportionally: 70% from your own funds and 30% from the voucher. |
| Loss offset (100%) | 0% | 100% | Losses are fully covered by the voucher. |
1. Usage limits:
Only one cash voucher can be used per transaction. In other words, multiple cash vouchers cannot be used simultaneously for a single trade.
Transfer restrictions: Depending on the voucher type, transfers between the spot account and futures account may be subject to restrictions. If you transfer funds while using a cash voucher, the voucher may become invalid immediately. Read the relevant prompts carefully before making a transfer.
2. Trading restrictions:
Futures trading only: Cash vouchers can only be used for futures trading and cannot be used for other types of trading.
No trading pair restrictions: Cash vouchers are supported for all futures trading pairs.
No leverage restrictions: Cash vouchers can be used with any leverage level, allowing you to choose the leverage that best suits your trading strategy.
- Cash voucher redemption and revocation
- Cash voucher redemption
Redemption conditions: If, within the specified period after using the cash voucher (i.e., within the validity period), your profit (PnL) meets the unlock requirements, the corresponding USDT amount of the cash voucher will remain in your futures account. These funds will become your assets, and you may continue using them, transfer them to your spot account, or withdraw them.
Redemption failure: If your profit does not meet the unlock requirements, the cash voucher will not be redeemed and will expire automatically.
- Cash voucher revocation
Expiration: If a cash voucher is not unlocked or used within its validity period, it will expire automatically.
Transfer: If assets are transferred out of the futures account, the cash voucher will become invalid. The system will display a confirmation prompt before the transfer is completed.
Withdrawal: Withdrawals or internal transfers will also cause the cash voucher to become invalid.
Expiration of cash voucher funds: Cash voucher funds will automatically expire after the validity period ends.
- Additional notes
Before redemption, cash vouchers cannot be transferred, withdrawn, or used for grid trading.
Cash vouchers cannot be used for wash trading, self-trading, or opening reverse positions. If any malicious use of cash vouchers is detected, AlphaX reserves the right to take action against the relevant accounts.
Transfer-out may cause cash vouchers to become invalid, which may lead to position reduction or liquidation. Proceed with caution.
Cash vouchers will be automatically revoked upon expiration. Ensure sufficient account funds to avoid unnecessary risks.
Cash vouchers are not supported for internal transfers within the futures account.
This document is intended to help users better understand and use cash vouchers, ensuring they can fully benefit from the trading advantages brought by cash vouchers. If you have any questions, contact support@alphax.com.