Table of Contents
What is Slippage?
BingX GTD Price (Zero Slippage)
Trading Pairs Supported
How to Place a GTD Price Order?
BingX Perpetual Future Benefits
BingX has recently upgraded perpetual futures with more features, with one of them being an exclusive Guaranteed Price (GTD Price) mechanism. The GTD Price is now extended to encompass both trigger orders and stop loss orders, encompassing a wider range of trading pairs. To put it simply, the GTD Price mechanism is a zero slippage feature provided by BingX. This enhancement is geared towards providing users with an even more seamless experience in Perpetual Futures trading.
What is Slippage?
Slippage in the context of trading refers to the difference between the expected price of a trade and the price at which the trade is actually executed. It typically occurs in situations where there is a rapid or significant change in the market price between the moment an order is placed and the moment it is executed.
Slippage can occur in both buying (placing a market order or limit order to buy) and selling (placing a market order or limit order to sell) situations. Slippage can lead to traders receiving a higher price than anticipated when buying or a lower price than anticipated when selling.
There are a few key factors that contribute to slippage:
-
Market Volatility: High volatility can lead to rapid and unpredictable price movements between the time an order is placed and executed, resulting in slippage.
-
Liquidity: Low liquidity in a market means that there are fewer buyers and sellers, making it more difficult to execute large orders at the desired price. This can lead to slippage, especially for larger trades.
-
Order Size: Larger orders can cause more significant slippage because they may need to be executed across multiple price levels, especially in markets with limited liquidity.
-
Fast-Moving Markets: In rapidly changing markets, the price at which an order is executed might be different from what was expected due to the speed of price changes.
Traders often use slippage as a risk consideration when placing trades. They might set limits or use different order types to manage the potential impact of slippage on their trades. Slippage is a common phenomenon in trading, particularly in highly volatile or less liquid markets.
BingX GTD Price (Zero Slippage)
The GTD Price functionality serves as a solution to address the challenge of slippage for users. It ensures that your trade order is executed at the predetermined price you set, regardless of significant market fluctuations. This protective measure safeguards your trades and mitigates unnecessary losses.
The GTD Price feature is applicable to BingX Perpetual Futures, with the following supported order types:
-
Trigger Order: Ensures that once the trigger order is activated, the executed price aligns precisely with the predetermined order price.
-
Guaranteed Stop Loss Order: Ensures that the actual closing price for the trader corresponds to the order price preset in Take Profit (TP) or Stop Loss (SL) settings.
This unique feature guarantees that regardless of drastic market fluctuations, your position will consistently be executed at your predetermined price, eliminating transactional slippage and safeguarding user trades. It is essential to note that this feature comes with a fee, and slippage risk is taken on by BingX instead. When activating the GTD Price function, the platform does not levy an upfront charge; instead, a fee is only incurred based on the transaction amount when the feature is triggered. Users can choose to switch this function off.
To illustrate the benefits of the GTD Price feature, let's consider Guaranteed SL as an example:
Three traders decide to initiate a long position on BTCUSDT when the market price stands at 26,500 USDT. Unfortunately, a rapid market decline occurs, causing the market price to plummet to 25,472.7 USDT. Each trader employs a distinct risk management approach, leading to varying outcomes for the same trade:
*Calculation is simplified and does not include trading fees
Case analysis for each of the 3 traders is as follows:
Trader A: The SL market order is a market order that ensures that the order is executed as quickly as possible, but it does not guarantee the filled price. Therefore, in the event that there is a sharp fall in the market, the trader's order is eventually executed at the market price of 25,472.7 USDT, resulting in an actual loss of 1,0273.3 USDT.
Trader B: The SL limit order is a stop-loss set using a limit order. In the event of sharp market fluctuations, where the market price moves quickly beyond the predetermined price, it may result in the incomplete execution of the placed order.
Trader C: GTD Price SL order ensured that the position is closed at preset price. Therefore Trader C's order was executed precisely at 25,840 USDT regardless of market volatility or price gaps.
From this example, it is safe to say that this exclusive feature is a step forward to safeguarding the interests of our users at BingX.
Trading Pairs Supported
At the time of writing, the Guaranteed Price feature is exclusively accessible for Perpetual Futures, and the pertinent supported trading pairs are detailed in the table below. As part of a special promotion, we are presently offering the Guaranteed Price with reduced fees for a limited duration. This translates to an exceptional opportunity to experience this feature at a highly advantageous rate.
Please refer to official announcements from BingX for the specific end date of the promotion.
How to Place a GTD Price Order?
1. Trigger order
Select Trigger and then check the "GTD Price" option when opening or closing a position.
2. TP/SL order (GTD Price SL)
You can set GTD Price SL before and after opening a position. Simply go to the TP/SL section, and click on the "Advanced" button.
After clicking on the "Advanced" button, you will see the screen below where you get a pop-up. In the pop-up, check the "Stop Loss" option and turn on "Guaranteed SL".
*Please note: Once a Guaranteed SL order is placed, its parameters cannot be modified.
BingX Perpetual Future Benefits
BingX has various reward benefits for their users, where they can either claim different kinds of bonuses depending on the relevant requirements.
For new users to futures trading, just by registering, users can claim a 100,000 VST simulation benefit to try on BingX demo trading. After which, after users are familiarised with BingX platform, they can start to deposit and with an accumulated deposit amount of 200 USDT, users can claim a 2 USDT bonus up to 5 times. Just by daily trading on futures, with a cumulative transaction volume of 10,000 USDT or more, users an claim a 10 USDT bonus up to 5 times. The next tier is a futures trading cumulative transaction volume of 200,000 USDT or more, after which users can claim a 100 USDT bonus up to 5 times. Besides futures trading, users can also check out BingX spot trading, and a spot cumulative transaction volume 300USDT or more will let users claim a 3 USDT bonus up to 5 times. The next tier for spot trading bonus is a spot cumulative transaction volume of 20,000 USDT or more, after which users will be able to claim a 10 USDT bonus up to 5 times. Please keep in mind that all these bonuses have to be claimed on the welfare page after completion of the tasks.
Another benefit is that within 7 days of novice registration, if the user suffers losses via copy trading, BingX will subsidize the loss amount, capped at 10 USDT up to 10 times. This benefit is automatically issued by the platform. Other benefits include a newbie limited-time deposit benefit of up to 5000 USDT, as well as a newbie exclusive blind box, where a single blind box can contain up to 200+ USDT bonus. Users can find out more and claim the respective rewards on the welfare page.
