Actually, trading futures on cryptocurrency pairs is common for trading due to low commissions.
Fig.222. Selection of the USD-M Futures menu. In the BINANCE website menu, select Derivatives à USD-M Futures.
Fig.223. Window of the futures trading module.
The general algorithm for working with futures is described below.
1. On the top left, select the desired futures, for example, ETHUSDT.
2. From the top right, we set the margin type “Cross”, the leverage is 10x. The cross margin reduces the requirements for the liquidation threshold of your account, but it uses all available wallets, except for Replenishment. I.e. You pledge all your wallets except for Replenishment. The isolated margin liquidates funds only within the current transaction, but the range to the liquidation price is sharply reduced. If the transaction amount is less than or equal to the cash on your futures wallet, liquidation is not applied. Liquidation occurs if the level of your debt when the price moves against your application reaches a certain predetermined limit.
3. Next, if you want to make an application below the current price, then select the type of application Limit, specify the price, for example, 1040, the amount, for example, 0.005 ETH. When setting the quantity, you can choose the type either in coins or USDT. If you need to buy futures for $ 50, then you should specify the USDT type. Note that different coins have different minimum lots. So you can buy at least 0.005. 4 ETH. Click the buy button.