How to Trade Crypto and Withdraw from ApolloX

Jan 20, 2024 1844 0

How to Trade Crypto at ApolloX

Crypto Futures Explained

What are Futures Contracts?

Futures contracts are an important part of traditional finance: They are highly complex financial instruments used by advanced or technical investors. Investors, companies, and governments use derivatives such as futures contracts to safeguard their exposure to risk and asset price volatility.

A derivative is a type of financial contract that derives its value from an underlying asset. Traditionally, derivatives are used in markets such as commodities, currencies, stocks, or bonds. These contracts can be traded over-the-counter or through exchanges.

What are Cryptocurrency Futures?

In the crypto industry, the futures market is a rapidly growing sector that generates trillions in trading volume every month. Like stock options or commodity futures contracts, crypto futures can guard against volatility and adverse price changes. Crypto futures also act as a tool that investors can use to speculate on future crypto prices or hedge against changes in the price of a cryptocurrency.

Advantages of trading Crypto Futures

Flexibility: Non-crypto holders can speculate on the price of a cryptocurrency to make a profit. You can use USDT to open a crypto futures position, and you can choose to settle your profit in USDT.

Leverage: Gain significant exposure to a specific cryptocurrency with only a fraction of its total cost. With leverage, you can magnify small price movements to create profits that justify your time and effort.

Liquidity: Crypto Futures markets are extremely liquid, with transaction volumes reaching trillions in US dollars. Liquid markets are less risky because traders can enter and exit positions easily with minimal slippage.

Portfolio Diversification: Diversify your trading strategies to generate more profit. Traders are able to develop complex trading strategies, such as short selling, arbitrage, pair trading, and so on.

Transfer Funds into Your Futures Wallet

【PC】

In order to start trading ApolloX Futures, youll need to transfer funds into your Futures account from a funding account.

1. On the Futures Trading page, find the "Assets" widget and click [Transfer].

How to Trade Crypto and Withdraw from ApolloX

2. Select the type of currency you want to transfer into your Futures account. Enter the amount and click [Confirm].

3. After you finish, youll be able to see your current available balance in the "Assets" widget.

4. If you need to transfer the available amount in your Futures account back to your funding account, you can click the [Swap] icon to change the direction of the transfer. Enter the amount you want to transfer and click [Confirm ].

【App】

In order to start trading ApolloX Futures, youll need to transfer funds into your Futures account from a funding account.

1. On the Futures page, find and click the arrows icon as shown below.

2. Select the type of currency you want to transfer into your Futures account. Enter the amount and click [Confirm].

3. After you finish, youll be able to see your current available balance on the Futures page.

How to trade Futures

1. Transfer funds into your Futures account to start trading.

2. Select the Futures contract you would like to trade. USDⓈ-M Perpetual Futures Contracts are linear contracts that use USDT as margin, as well as to settle profit and loss (PnL). Before opening a position, confirm that you are using the correct trading mode. You can click the [Preference] icon to set your preferences.

3. There are several different order types that you can use to open a position on ApolloX. You can learn how to use the different order types under [Information] - [Guide].

By trading Futures, you can make a profit off of market price fluctuations by opening a long or short position on a given contract.

If you decide to go long, it means that you expect the price of the contract youre buying to go up in the future, whereas if you decide to open a short position, it means that youre selling contracts and you expect the price to go down in the future.

4. You can view your unrealized PnL (uPnL), estimated liquidation price, margin ratio, and other information about your current positions at the bottom of the candlestick chart.

5. You can also click Close All Positions to close all of your open positions using a market or limit order once you enable this feature in [Preference].

Further reading: How to Calculate Unrealized PnL ROE for USDⓈ-M Perpetual Futures Contracts

If you choose to use the Mark Price as the benchmark price:

Unrealized PNL = Number of Contracts * Order Direction * (Mark Price - Entry Price)
ROE% =Unrealized PNL in USDT / Initial Margin = ( ( Mark Price - Entry Price ) * Order Direction * Number of Contracts ) / (Number of Contracts* Contract multiplier * Mark Price* Initial Margin Rate）
*Initial Margin Rate = 1 / Leverage Multiplier

If you choose to use the latest price as the benchmark price:

Unrealized PNL = Number of Contracts * Order Direction * (Mark Price - Entry Price)
ROE% = Unrealized PNL in USDT / Initial margin = ( ( Mark Price - Entry Price ) * Order Direction * Number of Contracts) ) / (Number of Contracts * Contract Multiplier * Mark Price* Initial Margin Rate）
Order Direction: 1 for long order；-1 for short order

Frequently Asked Questions (FAQ)

Changing the Leverage Multiplier

1. The default leverage multiplier on ApolloX is 20x, but youre free to adjust it. The higher the leverage multiplier, the lower the notional value of your position.

Click the [20x] icon.

2. Use the slider to adjust the leverage multiplier, then click [Confirm].

3. Once you click Confirm, the leverage multiplier will be changed and the new leverage multiplier will be displayed. Make sure you select the correct leverage multiplier before opening a position.

ApolloX Futures Transaction Fees

Futures transaction fees:

Maker fee: 0.02%; Taker fee: 0.07%

Definitions of "Maker" and "Taker"

What is a Maker Order?

When you place a Maker order, youll enter the order price (either higher or lower than the current market price) and rather than being filled immediately, your order will go onto the order book with the other orders. Your order will stay on the order book until another user takes the initiative to fill the order.

What is a Taker Order?

When you place a Taker order, youre taking the initiative to fill your order by trading with an existing order on the order book. Your order trades immediately by filling an existing order with a matching price.

How are transaction fees calculated?

Formula for USDⓈ-M Futures transaction fees:

Transaction fee = Nominal value × Transaction fee rate

Nominal value = Number of futures contracts × Transaction price

For ApolloX users, Maker fees are 0.02% and Taker fees are 0.07%.

Buying BTCUSDT Futures using a Market Order:

Nominal value

= Number of futures contracts × Transaction price

= 1 BTC × 49,000

= 49,000

As a Taker, you would pay a transaction fee of 49,000 × 0.07% = 34.3 USDT.

Once the price goes up, you can place a Maker sell order:

Nominal value

= Number of futures contracts × Transaction price

= 1 BTC x 49,500

= 49,500

As a Maker, you would pay a transaction fee of 49,500 × 0.02% = 9.9 USDT.

How to use the ApolloX Futures Calculator

You can use the ApolloX Futures Calculator to calculate your Initial Margin, PnL, and ROE for each order.

1. Click the [Calculator] icon as shown below.

2. You can use the Calculator to calculate your PnL, Target Price, or Liquidation Price.

3. After choosing an option, select [Long] or [Short], then enter the Entry Price, Exit Price, and Quantity. You can also adjust the leverage multiplier here. Fill in the order details, then click [Calculate]. ApolloX will then automatically calculate your Initial Margin, PnL, and ROE.

USDⓈ-M Perpetual Futures

Initial Margin = Quantity * Entry Price * Initial Margin Rate(IMR)

Initial Margin Rate (IMR) = 1 / leverage Multiplier

Calculation for PnL:

Long = (Exit Price - Entry Price) * Number of Contracts

Short = (Entry Price - Exit Price) * Number of Contracts

ROE% = PnL / Initial Margin = Order Direction * (1 - Entry Price / Exit Price) / Initial Margin Rate

How to change Margin Mode

1. Log in to ApolloX and go to the ApolloX Futures trading page. Select the Futures contract you want to trade, then click [Cross], as shown below.

2. Here, youll see the different margin mode options. Click to select the margin mode you want to use, then click [Confirm].

*Switching margin mode will only apply for the current contract.

3. The margin mode is changed once you click Confirm. Remember to select the correct margin mode whenever you open or execute an order.

Tips:

The default margin mode is set to "Cross Margin" for all contracts.
Changing margin mode will only apply for the current contract.
Remember to select the correct margin mode whenever you open or execute an order.
You wont be able to change the margin mode if you have any open positions or orders.
In Cross Margin mode, all positions under the same margin asset share the same margin balance. For example, all USDT in your Futures wallet can be used for all USDT Futures trades.

How to Withdraw from ApolloX

Withdrawing Crypto from Your ApolloX Account【PC】

If you want to transfer crypto from your ApolloX account to another exchange or digital wallet, you can go to [Wallet] - [Funding] - [Withdraw] to initiate a withdrawal. Crypto withdrawals are made using an "address". Before you can withdraw your crypto, youll need to find the deposit address on the external platform, then just copy and paste it to the withdrawal address field on ApolloX.

The steps for making a withdrawal are shown below. Please read them carefully:

1. Log in to the ApolloX website, then click [Wallet] → [Funding] in the upper right corner and select [Withdraw].

2. Select the type of coin you want to withdraw. Well use Tether (USDT) as an example.

3. Confirm the recipient address and paste it into the [Address] field.

4. Click [Select Withdrawal Network]. Make sure you select the matching network to avoid losing your assets.

5. Enter the withdrawal amount. The system will automatically calculate the fees and the actual transfer amount. Confirm that the information is correct, then click [Withdraw].

Actual transfer amount = Withdrawal amount – Withdrawal fees

6. Click [Continue] and complete security verification to complete the withdrawal.

7. Once your withdrawal is completed, you can go to [Wallet] - [Transaction History] to view your transaction. Select [Withdraw] and the corresponding [Time] to view your withdrawal.

Tips:

If you choose to withdraw USDT, for example, please make sure you also choose USDT on the platform you want to withdraw to when copying the address;
If you want to transfer your crypto to another platform, please enter the USDT deposit address for that platform. (Similar to how you need the recipients account number when sending a bank transfer, you have to enter the recipients deposit address into the withdrawal address field).
If youre withdrawing to a wallet, you may need to go into the wallet youre transferring to and click Receive or Deposit to find the deposit address for the corresponding coin;
Once you enter the withdrawal address, the system will automatically match the corresponding network for you if there are multiple networks. However, you may need to manually choose and confirm the network for certain coins that arent supported by the matching system. Please confirm the network on the platform/wallet you want to withdraw to. Your funds may be lost if you choose the wrong network.

Withdrawing Crypto from Your ApolloX Account【APP】

If user want to transfer out their ApolloX cryptocurrencies to other exchange/platform or wallets, can go to [Wallets] -[Withdraw] to process the withdrawal. During the withdrawal process, you will need to copy the deposit address from the external platform and paste on the withdrawal page of ApolloX to complete the transaction and deposit to the respective account under the platform that you would like to withdraw to.

Below is the steps of withdrawal, please read through.

1. Login to ApolloX account on app, select [Wallets]-[Withdraw].

2. You will be able to see your available coins for withdraw under the "Coin List". Click on the coin you would like to withdraw to proceed. We will use "USDT" as example here.

3. Confirm the recipient address to paste into the "Address" field. Select the compatible network and fill in the amount you would like to withdraw.

4. The network will be match automatically based on your address filled or you can choose the network manually if failed to match. Kindly choose the correct network to avoid withdrawal losses.

5. System will auto calculate the corresponding fees and the final amount you will receive. Click [Withdrawal] to proceed.

Receive Amount = Withdrawal amount-Withdrawal fees

6. Fill in the security verification as requested to complete the withdrawal process.

7. After transaction done, users can go to [Wallets]-[Funding] and click on the "history" icon to find the TxID for more details.

Frequently Asked Questions (FAQ)

Withdrawal Fees

"Withdrawal fees" or "network fees" are usually incurred when you withdraw coins to an external wallet address. These fees are used to pay the miners or node validators responsible for processing the transaction and securing the corresponding blockchain network.

ApolloX pays these fees to the miners to ensure that all transactions are properly processed on the blockchain. However, since transaction fees are dynamic, ApolloX charges users a fee based on the current network conditions. Please note that since the fee amount is based on estimated network transaction fees, it may be adjusted without notice in response to the current network conditions.

You can view the current fees for a given network by going to the withdrawal request page for that coin.

Minimum Withdrawal Amount

There is a minimum withdrawal limit every time you withdraw crypto, so please make sure the amount of your withdrawal is greater than the minimum.

You can go to the Deposit Withdrawal Fees page to check the minimum withdrawal limits and transaction fees for each type of cryptocurrency. However, please note that the fees displayed on this page may fluctuate without prior notice based on blockchain network conditions.

You can see the current transaction fees and minimum withdrawal limits on the Deposit Withdrawal Fees page, as shown below.

Note: Please avoid choosing unsupported networks because they have low fees. You must select a network that is compatible with the external address you are withdrawing to. If your external wallet/exchange account provides you with an ERC20 address, you have to select the ERC20 network to withdraw your crypto. If you choose the wrong network, your funds will be lost.

Why Hasnt My Withdrawal Arrived?

1. I made a withdrawal from ApolloX to another exchange/wallet, but I havent received my funds yet. Why?

Transferring crypto out of your ApolloX account involves 3 steps: Submit a withdrawal request on ApolloX - Confirmation on the blockchain - Funds arrive in the other account.

ApolloX typically generates the TxID for your transfer within 30-60 minutes. This signals that we have finished processing your transfer, and your transaction has been broadcast to the blockchain.

The time it takes for a transaction to be confirmed and sent to the other partys receiving platform as well as the number of "network confirmations" required to complete a transaction vary between different blockchains. For example:

A BTC deposit requires 1 network confirmation.
After receiving a deposit, the funds in your account will be temporarily frozen. You can withdraw after receiving 2 network confirmations.

Transfers may be delayed due to unpredictable network congestion. You can use the TxID (transaction ID) to check the status of your transfer using a blockchain explorer.

Tips:

If the blockchain shows that the transaction is unconfirmed, please wait for the confirmation process to be completed.
If you still havent received your deposit once the transaction shows as confirmed on the blockchain, it means that the transfer has been completed on ApolloX and we are no longer able to assist you with that transaction. Please contact the receiving platform for assistance with crediting the transfer to your account.
If the TxID has not been generated 6 hours after you click the link in the confirmation email, please contact our Customer Support team for assistance. Please be sure to attach a screenshot of your withdrawal history showing the relevant transaction. Providing detailed information will allow our Customer Service to assist you in a timely manner.

2. How do I check the status of my transaction on the blockchain?

Log in to ApolloX and click [Wallet] - [Transaction History] to view your withdrawal history. You can click on the link in the [TxID] section to see detailed information about your transaction.

What If I Withdraw to the Wrong Address?

On ApolloX, the system initiates the automatic withdrawal process as soon as you complete security verification and click [Submit]. There is no way to stop the automatic withdrawal process once its initiated.

Due to the anonymous nature of the blockchain, ApolloX has no way to locate who received your crypto if it was sent to the wrong address. Therefore, we will not be able to provide you with any further assistance if you send your crypto to the wrong address.

How can I get my crypto back after its been deposited to the wrong address?

If you know the owner of the address, we recommend that you contact the owner directly to negotiate the recovery of your assets.
If your assets were sent to the wrong address on another platform, please contact the customer support team on that platform for assistance.
If you forgot to enter a Tag/Memo when withdrawing to an external platform, please contact the customer support team for that platform and give them the transaction ID (TxID) and corresponding information of your ApolloX withdrawal for help recovering your assets.