Greeks.live Futures Swap Users’ Guide
I. Futures Swap Introduction
Dear all, the Greeks.live Futures Swap function has been officially launched on November 12, 2021 on the Advanced Trading Tools page (https://www.greeks.live/ddh/).
This feature is designed to provide a swap tool between perpetual and futures, or futures of different expiration dates. By using this automated tool, you can customize the amount of each swap, thus achieving a reduced impact on the futures market and reducing slippage.
II. Futures Swap Tool Users’ Guide
The parameters and interface are described as follows.
(i) Initial interface introduction
Enter the URL www.greeks.live/ddh into your browser and click on the BTC/ETH Futures Swap.
To use the futures swap tool function, first you need to activate this function by yourself first.
⚠️ Please read the disclaimer carefully and make sure you fully understand the risk. If you agree and wish to continue using it, please click to activate it.
(iii) Interface parameters
Take the BTC futures swap as an example.
- Total Swap Amount: represents the total amount of BTC contract to be traded this time using the Futures Swap tool. It should be greater than 0.
- Each Swap Amount: represents the average BTC transaction volume split into each swap. For BTC swap, It should be greater than 0.01. For ETH swap, it should be greater than 0.1.
- Long: select the contract to long in this swap, and your current position in that contract will be displayed on the right after selecting the contract.
- Short: select the contracts to short in this swap, and your current position in the contract will be displayed on the right after selecting the contract.
- Switch On/Off: check whether to activate the swap.
(D) Further questions
1. Do I need to hold a certain futures position in order to go long or short?
NO. You can use this tool to ROLL your future positions (i.e. close your existing near-term futures position and open a forward futures position), and you can also use this tool for cross-period arbitrage.
2. About splitting into several single trade
Suppose the total trade volume you fill is 1 BTC and the single trade volume is 0.3 BTC, then the trade will be split into 4 orders, which are 0.3+0.3+0.3+0.1=1 BTC.
3. About the time interval for splitting a single order
The current default time interval is 1 second, user-defined time interval will be supported in the future.
4. Market orders will be used in both long and short future contracts.
Suppose I want to roll my short position BTC-26NOV21 (total position: -3BTC) to BTC-31DEC21, set the total trade amount to 3 BTC and each swap amount to 0.3, then the futures swap will split into 10 trades with an average interval of 1 second. Fill in the parameters as follows.
After clicking submit, it will show that the submission was successful and you will instantly see the following transaction alert at www.greeks.live/web. Also, your current position will be changed from holding BTC-26NOV21 short contract to holding BTC-31DEC21 with a value of — 3BTC.