With the continuous development of the cryptocurrency industry, various derivative trading products have gradually become richer, and more and more trading needs of investors have been met. From theWith the continuous development of the cryptocurrency industry, various derivative trading products have gradually become richer, and more and more trading needs of investors have been met. From the
Akademiya/Trading Guide/Futures/What is MEXC pre-market perpetual futures trading? How to seize profit opportunities in pre-market trading?
What is MEXC pre-market perpetual futures trading? How to seize profit opportunities in pre-market trading?
With the continuous development of the cryptocurrency industry, various derivative trading products have gradually become richer, and more and more trading needs of investors have been met. From the initial 10,000 bitcoins for 2 pizza coupons and other primary barter trading forms, to later spot trading , Coin-M futures trading , and later USDT-M futures trading , new trading products continue to emerge. MEXC's premarket perpetual contract was born in this context.
1. What is pre-market perpetual futures trading?
Pre-market perpetual futures trading is a financial derivative that supports trading of tokens before they are officially launched. Users can participate in perpetual futures trading with USDT before the token is officially launched. Through pre-market perpetual contracts, users can pre-plan the new currency market and make judgments on its future price and liquidity.
Essentially, pre-market perpetual contracts belong to USDT-M perpetual contracts, and will gradually transition to formal perpetual contracts after the token is officially launched.
2. Main advantages of pre-market perpetual futures trading
Preemptive layout: Before the official launch of the perpetual contract, participate in the transaction in advance, quickly grasp the market dynamics, and seize the opportunity;
Earn volatile returns : Take advantage of the high volatility before the launch of popular tokens to seize potential profit opportunities.
Seamless connection to formal contracts : When the project is officially launched, the pre-market perpetual contract will be automatically converted to a formal perpetual contract, and the user's position does not need to be migrated, and the transaction will not be interrupted.
3. How to conduct pre-market perpetual futures trading on MEXC
3.1 Web
Open and log in to the MEXC official website , click on the "futures trading" in the top navigation bar to enter the futures trading page.
On the futures trading page, switch to the futures trading currency pair and you can see different categories, such as 0 fee, MEME, Solana ecosystem, etc.
Select "Pre-Market" to see all ongoing premarket perpetual contract pairs in the corresponding list. Click to select the premarket perpetual contract you want to trade and start your premarket perpetual futures trading.
3.2 App
Open and log in to the MEXC App, click "Contract" at the bottom of the homepage to enter the futures trading page.
At the top of the futures trading page, click to switch the futures trading currency pair.
Find "Pre-Market" under the "USDT standard" and you can see all ongoing pre-market perpetual contract pairs in the corresponding list. Click to select the pre-market perpetual contract you want to trade and start your pre-market perpetual futures trading.
4. Pre-market perpetual contract risk
4.1 Lower liquidity
Compared with formal perpetual contracts, there are usually fewer participants in pre-market perpetual futures trading, and the depth of the market is limited.
Reduced liquidity will lead to wider bid-ask spreads and exacerbate slippage.
Because there may not be enough counterparties in the opposite direction to trade with you, it affects the speed of opening positions and position squaring.
4.2 Higher price fluctuations
Due to the small number of participants, there may be less imbalance in orders, and the market is also easily affected by price fluctuations.
Funding rate fluctuations: Due to the small number of index price quotes, the funding rate may fluctuate greatly and offset your profits, and if not managed properly, it may even lead to losses.
Special reminder: The pre-market perpetual contract market has low liquidity and higher volatility, and the risk of forced liquidation is significant. Its price is sensitive to market sentiment and information, and has strong speculative attributes. Although we continue to optimize the trading experience, please fully evaluate your risk tolerance and participate cautiously.
5. Frequently Asked Questions about Pre-market Perpetual Contracts
5.1 After the launch of the 5.1 token pre-market perpetual contract, what will be the follow-up process?
5.1.1 token spot is not online before: the contract maintains the pre-market perpetual contract status and supports normal trading.
5.1.2 after the normal launch of token spot: If there are no abnormal situations, the pre-market perpetual contract will gradually transition to the formal perpetual contract, and the specific conversion time will be notified separately in the form of an announcement.
Precautions during the transition period :
- Users do not need to manually operate, the system automatically changes to a formal perpetual contract.
- K-line data, trading entrance, etc. remain unchanged.
- Unfinished orders and existing positioning will remain unchanged.
Risk parameters, index price components, and other parameters may be adjusted.
After the token spot is launched, due to the formation of real pricing in the market, the contract price may fluctuate violently. It is recommended that users manage positioning in advance and control risks.
5.1.3 token spot cancellation or other risk control issues: The pre-market perpetual contract may be delisted, and the specific delisting and settlement arrangements will be notified separately in the form of an announcement.
- Settlement description
- A settlement will be made at a reasonable price.
- The settlement time will be announced in advance and displayed on the trading page.
- After the announcement, opening positions will be restricted and only position squaring is allowed.
5.2 Pre-market perpetual futures trading mechanism
Trading mode: Supports two modes of position by position and full position, users can operate on the Web and App side, and choose the long and short direction to participate in trading independently.
Strong liquidation mechanism: The logic of strong liquidation follows the formal perpetual contract mechanism to ensure market stability.
Fee Description: Pre-market perpetual contract fees are the same as formal perpetual contracts.
Regarding price: The premarket perpetual contract market is determined by the market behavior of buyers and sellers, and the price may deviate from the actual published price of the token.
Dynamic parameter adjustment: According to the market risk situation, MEXC may adjust the pre-market perpetual contract parameters, including adjusting the settlement frequency or upper and lower limits of the funding rate, the minimum change price, the maximum leverage, the initial margin, Maintenance Margin and other important parameters. Please refer to the latest data on the trading page.
5.3 Differences between pre-market trading (spot) and pre-market perpetual contracts
Pre-market trading refers to spot trading, trading actual tokens, while pre-market perpetual futures trading is a perpetual contract, essentially a USDT-M perpetual contract.
5.4 Whether the pre-market perpetual contract will affect the listing price of the token spot
Although pre-market perpetual contracts can reflect market expectations, the listing price of token spot is affected by various factors and may not be directly related to the price of pre-market perpetual contracts. Both prices ultimately depend on market supply and demand dynamics.
5.5 When the pre-market user contract transitions to a formal contract, will it cause losses to the user?
The transition mechanism itself will not generate additional costs or losses, and all profits and losses come from normal market fluctuations, unrelated to the transition mechanism.
It should be noted that the pre-market perpetual contract market has low liquidity, higher volatility, and significant liquidation risk. Its price is sensitive to market sentiment and information, and has strong speculative attributes. Although we continue to optimize the trading experience, please fully evaluate your risk tolerance and participate cautiously.
6. What is the difference between premarket perpetual futures trading and USDT-M perpetual futures trading?
Simply put, the biggest difference between the two is the underlying asset (Underlying Asset) and its life cycle stage .
- Formal perpetual contracts : trading tokens that have been officially launched and have an active Spot Market .
- Pre-market perpetual contract : Trading tokens that have not yet been officially published or listed on mainstream exchanges is essentially a "quasi-futures" or "IOU" market for speculating on future token prices.
Below we will make a detailed comparison from multiple dimensions.
6.1 A brief comparison between pre-market perpetual contracts and conventional perpetual contracts
| Feature | Pre-Launch Perpetual Contract | USDT-Margined Regular Perpetual Contract |
| Underlying Asset | Tokens that have not yet launched or are not traded on mainstream exchanges. | Tokens that have already launched and have active spot trading pairs on multiple exchanges. |
| Trading Purpose | Price discovery and early speculation. Provides pre-launch price reference for new tokens. | Speculation, hedging, and arbitrage on mature tokens. |
| Price Source/Anchoring | No spot price anchoring. Price is entirely determined by supply and demand between buyers and sellers in this pre-launch market, forming a self-contained trading arena. | Price is closely anchored to spot index prices from one or more mainstream exchanges through the funding rate mechanism. |
| Lifecycle | Has a definite endpoint. After the token officially launches, the pre-launch contract will automatically settle according to rules and then be delisted. | Theoretically perpetual, with no expiration date. Can be held indefinitely as long as margin is sufficient. |
| Risk Level | Extremely high. Faces risks including project delays/cancellations, huge price differences between pre-launch and post-launch prices, extremely low liquidity, etc. | High. Mainly faces conventional derivative risks such as market volatility and leverage liquidation, but prices have spot reference, making them relatively transparent. |
| Liquidity | Usually lower, with larger bid-ask spreads and shallow market depth. | Usually higher, especially for mainstream tokens, with good market depth and active trading. |
| Funding Rate | Also has funding rates to balance long and short forces within the pre-launch market itself. However, due to extreme speculation, rates can be very high and volatile. | Funding rates are relatively stable, used to balance the deviation between contract price and spot price. |
| Target Users | Professional traders with extremely high risk appetite, well-informed early participants. | Broad cryptocurrency traders, including retail traders, professional traders, institutions, and hedgers. |
6.2 In-depth analysis of core mechanisms
6.2.1 Price Discovery and Risk
Pre-market Perpetual Contract : It can be thought of as a "Price Discovery Lab". Since there is no spot price to refer to, its price fully reflects the market's expectation of the value of the token when it goes live in the future . This is a pure expectation game.
Latent risk :
Publish failure risk : If the project party eventually cancels the token publish, pre-market contract transactions will usually be voided, and all transactions will be invalid.
Price decoupling risk : The opening price of the token after the official launch may be vastly different from the price of pre-market trading, resulting in huge instantaneous gains and losses.
Liquidity Risk : Due to the small number of participants, you may not be able to trade at the ideal price in time, and the slippage will be very large.
Formal perpetual contract : Its price is not created out of thin air, but has a solid "anchor" - Spot index price . The exchange will integrate the spot prices of multiple mainstream platforms to calculate a fair index price. If the contract price deviates from this anchor, the funding fee mechanism will pull it back like a rubber band. This makes price manipulation more difficult and the trend more traceable.
6.2.1 and settlement
This is the most fundamental difference in the life cycle of the two.
Pre-market perpetual contract : Its mission ends after the token is officially launched. The exchange will specify the settlement rules in advance, usually:
After the spot trading pair of the new token is launched and operates stably for a period of time.
Generally, the time-weighted average price (TWAP) of the spot price during this period is taken as the final settlement price.
All pre-market positions will be automatically positioned squaring at this price.
Formal perpetual contract : No settlement time. As long as the investor does not actively position squaring and the margin is sufficient to avoid being forced to position squaring, your positioning will always exist, and you will continue to pay or collect capital fees.
Suppose a highly anticipated new project "ABC" is about to publish the token ABC.
- Pre-market trading phase :
- A certain exchange launched the "ABCUSDT Pre-Market Perpetual Contract" one week before the launch of ABC.
- At this time, there is nowhere to trade ABC spot. Investor Alice believes that ABC will become popular after it goes online, so she bought it at a price of 1 USDT in the pre-market. Investor Cindy thinks her expectations are too high and sells it at a price of 1 USDT.
- The price of 1 USDT here is completely negotiated by Alice, Cindy, and other market participants.
- Formal futures trading Stage :
- One week later, ABC officially launched spot trading on major exchanges, with a stable spot price of 1.5 USDT.
- The pre-market contract market will have a mandatory settlement according to the rules. Alice makes a profit (1.5 - 1) * quantity, Cindy loses.
- At the same time, the exchange launched the "ABCUSDT" official perpetual contract. The initial price of this contract will fluctuate closely around the spot price of 1.5 USDT, and traders can freely buy and sell it like trading BTC and ETH contracts.
Summary
Overall, USDT-M perpetual contracts and regular perpetual contracts serve completely different market needs and risk preferences.
- Pre-market perpetual contract : It is a high-risk, high-potential return early speculative tool . It provides a place for the market to play price games on unlisted assets, suitable for traders who have in-depth research on projects and can bear high risks.
- USDT Standard Formal Perpetual Contract : It is a mature and standardized derivative tool . It provides traders with a channel for leveraged trading and risk hedging based on transparent spot prices. It is currently the mainstream product in the cryptocurrency market and suitable for the vast majority of traders.
Currently, MEXC platform has launched a 0 fee activity . By participating in this activity, users can significantly reduce transaction costs and truly achieve the goal of "saving more, trading more, and earning more". On the MEXC platform, you can not only enjoy low-cost transactions with this activity, but also keep up with market trends, keenly capture every fleeting investment opportunity, and start a journey of wealth appreciation.
Recommended reading:
- Why choose MEXC futures trading? Learn more about the advantages and features of MEXC futures trading to help you seize the opportunity in the contract field.
- futures trading Operation Guide (App End) Learn more about the operation process of App-side futures trading, so that you can easily get started and play futures trading.
Disclaimer: This material does not provide advice on investment, taxation, legal, financial, accounting, consulting, or any other related services, nor is it advice on buying, selling, or holding any assets. MEXC Novice Academy provides information for reference only and does not constitute any investment advice. Please ensure that you fully understand the risks involved and invest cautiously. All investment behaviors of users are not related to this site.
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