Highwood Asset Management Ltd

Stock perps are Bitget's innovative index perpetual futures for equity assets. The underlying index is constructed from circulating stock tokens (RWA) available on the market. It may include stock tokens from multiple independent issuers (including xStock, ONDO, and others), with weights dynamically calculated and published based on real trading volume and liquidity.

For example, Bitget's NVDA stock perpetual futures index price represents the weighted composite average of NVDA RWA tokens across all supported issuers.

Key differences: Stock perps vs. regular futures

Risk management for stock perps

Liquidation mechanism

Standard liquidation rules apply: risk is evaluated based on liquidation price or position margin ratio. Positions will not be liquidated during market closure periods. When markets reopen, gap up/down events may lead to collateral shortfall. It's recommended to monitor index prices and margin call before the market opens.

Insurance fund

All stock perps have ADL (Auto-Deleveraging) enabled by default. Each perp is initially seeded with 50,000 USDT allocated to the insurance fund. ADL will activate automatically if the insurance fund equity reaches zero.

Stock index calculation logic

The index represents a weighted composite price of the basket of tokenized assets for the given equity. It does not directly track the underlying traditional stock but serves as an aggregate price reference for the traded RWA market. The constituent assets mainly consist of USDT-quoted crypto tokens from issuers like xStock, ONDO, and others.

Index rebalancing

• Regular rebalancing: Executed daily at 16:01:00 (UTC+8) to reflect current market conditions.

• Special adjustments: Constituents will be removed or replaced in the event of delisting, insufficient liquidity, or extreme volatility events, with corresponding adjustments to weights and the divisor.

• Hard forks, airdrops, and mapping adjustments: Soft forks are not adjusted. Newly created tokens are included based on their weight, and tokens that don't meet the criteria will be removed in the next rebalancing. For splits or mergers, the weight is adjusted proportionally.

Critical things to know before trading

1. Trading halt mechanism: Markets are closed on weekends and during announced special periods, aligned with traditional equity market schedules to reduce overnight gap risk.

2. During closure: Mark price is frozen, and no liquidations will occur. Existing orders may be canceled, but new orders cannot be placed. No funding rate settlement occurs. If a gap opening is expected, add margin in advance.

3. Pricing fairness: The index is calculated based on multi-source RWA liquidity to ensure fairness.

4. Overall risk: Margin trading amplifies both gains and losses, requiring strict risk management.

How to trade stock perps on Bitget

1. Sign up and verification

• Visit the Bitget website or download the app.

• Sign up using your email address, phone number, Google, or Apple ID. Set a strong password and enable 2FA.

• Complete identity verification: Complete at least the basic verification (upload your ID). This step is usually required for futures trading.

2. Deposit and transfer USDT to your futures account

• Buy USDT via P2P, fiat channels, or credit card within the app (supports various fiat currencies).

• Alternatively, transfer USDT from an external wallet (TRC20 network is recommended for low fees).

• Go to the Assets page, select Transfer, and transfer USDT from your spot account to your futures account (USDT-M Futures). Transfers are free and instant.

• All stock perps are USDT-M.

3. Go to the stock perps trading page

• Click TradFi in the bottom navigation bar and select the Stock Perps category.

• Search available stock tickers: TSLAUSDT, NVDAUSDT, AAPLUSDT.

• Supported assets include over 30 popular U.S. stocks and indices (such as QQQ), subject to the platform's real-time list.

4. Set trading parameters and place an order

• Leverage: Click the leverage icon to adjust the multiplier (new users should start with low leverage).

• Margin mode: Supports isolated and cross margin, with some support for unified trading account mode.

• Order type:

  • • Market order: Immediate execution.

    • Limit order: Execute at a specified price.

• Direction and quantity: Select Open Long (buy, bullish) or Open Short (sell, bearish) and enter the quantity (the system will display the corresponding position value).

• Setting TP/SL is strongly recommended: You can select and set TP/SL on the order page, entering prices or using trailing SL.

• After reviewing the parameters, click Open Long or Open Short to confirm.

5. Manage positions

• View real-time PnL and margin ratio on the position page.

• You can close, increase, decrease, or adjust leverage anytime.

• Monitor funding rates (paid between long and short positions; long-term holdings should consider the cost).

• During market closures, only pending orders can be canceled, and no new positions can be opened. Mark prices will not be updated.

Risk warning:

Crypto prices are highly volatile, which may lead to significant losses. It is recommended to invest only funds you can afford to lose. Past performance is not indicative of future results. This content does not constitute financial advice. Refer to the Bitget User Terms. Investors should seek independent professional advice and assess their individual financial situation.

Bitget precious metals futures are a first-of-their-kind TradFi perpetual product, giving crypto users direct exposure to traditional assets—including gold and silver—through a USDT-margined perpetual structure. The underlying assets track globally recognized benchmarks such as XAU (gold) and XAG (silver), with pricing sourced from multiple authoritative providers, including Pyth and dxFeed. Trading is available 24/7, year-round. Users can go long or short using USDT as both margin and settlement currency, with leverage to amplify return without needing to hold physical gold or silver or being restricted by traditional market hours.

This is a USDT-margined perpetual product native to the crypto platform. Together with Bitget's stock perps, it forms part of the RWA (real-world asset) perpetual futures suite, designed to provide crypto users with an efficient tool to hedge against traditional asset volatility. Bitget dynamically optimizes index data sources based on market activity and data stability to ensure transparent and consistent pricing.

How Bitget precious metals futures differ from standard futures

Precious metals futures share the same core architecture as Bitget's crypto perpetual futures, but are optimized for the unique characteristics of traditional precious metals markets. The key differences are outlined below:

Core advantages of precious metals futures:

• 24/7 trading: Traditional gold and silver markets operate within fixed trading hours. Bitget precious metals perpetual futures are available around the clock, making them especially convenient for users in Asian time zones.

• Reliable data sources: Real-time data is sourced from multiple providers and dynamically updated to maintain pricing accuracy.

• Adaptive mark price: During off-market hours, EMA-based smoothing helps reduce abnormal price fluctuations.

• Unified account integration: Shares a margin pool with stock and crypto futures, enabling centralized and efficient portfolio management.

Risk management for Bitget precious metals futures

The risk management framework for precious metals futures is consistent with that of standard futures. Bitget protects user funds through the following mechanisms:

• Liquidation mechanism: When a position's margin ratio falls below the liquidation threshold, the system will automatically liquidate the position. The liquidation price is calculated using the same methodology as standard futures (refer to the real-time display in the trading interface for exact values). As traditional precious metals markets may experience price gaps at session open, users are advised to monitor market movements in advance and top up margin when necessary.

• Insurance fund: The auto-deleveraging (ADL) mechanism is enabled by default. An initial insurance fund of 50,000 USDT is seeded by the platform at launch. ADL is triggered when the insurance fund is insufficient to cover losses from collateral shortfall. Users can view the real-time size of the insurance fund via platform announcements.

How the Bitget precious metals index is calculated

The precious metals index follows the same methodology as Bitget's stock index, using a weighted average across multiple data sources:

• Real-time spot and futures quotes are collected from multiple authoritative providers (including Pyth and dxFeed).

• The index price is calculated as a reliability-weighted average, closely aligned with traditional market pricing.

• The index updates every second and is fully transparent. Users can view both the index price and mark price in real time on the futures trading page.

How to trade precious metals futures on Bitget

1. Sign up and verify: Download the latest version of the Bitget app or visit the official website. Sign up and complete identity verification.

2. Fund your account: Transfer USDT from your spot account or wallet to your futures account.

3. Open the trading interface: In the Futures section of the app or website, search for precious metals trading pairs such as PAXGUSDT, XAUUSDT, or XAGUSDT.

4. Configure your trade: Select position mode (isolated or cross), set leverage (1–100x), choose direction (long or short), enter position size, and configure take-profit and stop-loss levels.

5. Place and manage orders: Supports market orders, limit orders, and conditional orders. Monitor funding rates, position PnL, and liquidation risk in real time.

6. Close and settle: Positions can be closed at any time. PnL is settled directly in USDT, with no expiry.

New users are advised to start with smaller positions and use stop-loss tools to manage risk.

Risk warning

Precious metals futures are high-risk derivative products. Leverage amplifies both gains and losses. Traditional precious metals markets are influenced by factors such as geopolitical events, economic data releases, and inflation expectations, which may lead to significant price gaps. While Bitget provides mechanisms such as an insurance fund and liquidation controls, these cannot fully eliminate market risk. Please ensure you fully understand the product before trading and only use funds you can afford to lose. Past performance does not guarantee future results. Bitget does not assume liability for any trading losses. For full details, please refer to Bitget Terms of Use.

As a leading crypto exchange, Bitget offers a diverse range of derivative products, including classic crypto perpetual futures (like BTCUSDT and ETHUSDT) and innovative stock perps—USDT-margined perpetual futures tracking tokenized U.S. stock indices (such as TSLA, NVDA, AAPL).

Both product types support leverage, hedge mode (long/short), and USDT settlement. They are also perpetual futures with no expiry, using a funding rate mechanism to keep prices anchored to the spot price of underlying assets. However, they differ significantly in terms of underlying asset characteristics, volatility, risk profile, and the overall trading experience. Stock perps allow you to amplify returns with leverage while being backed by the relatively stable fundamentals and regulatory oversight of the U.S. stock market. Compared to pure crypto futures, they are far less prone to extreme price swings (like flash crashes), making the overall risk more manageable. This makes them an ideal choice for traders looking to blend the stability of traditional finance with the flexibility of crypto.

Core advantages of Bitget stock perps over crypto futures

Stock perps merge traditional financial assets with crypto derivatives, offering clear advantages across multiple dimensions. They are particularly well-suited for users with a moderate risk appetite or investors looking to diversify away from crypto's high volatility.

In summary, Bitget stock perps maintain the flexibility of crypto trading (leverage, USDT settlement, hedge mode) while significantly reducing volatility and extreme risk. They act as an ideal bridge for crypto users looking to level up into traditional finance.

Trading stock perps vs. crypto futures: Use cases

Let's assume a user has 1000 USDT and uses 10x leverage on Bitget, aiming to hold the position for one week. This simplified example (excluding fees/funding rates for illustration) shows the potential difference in outcome and risks.

Scenario 1: Going long on a tech stock (NVDA)

• Stock perps: Assume NVDA rises 8% in a week (a typical post-earnings move). With 10x leverage, the profit is roughly 80%. The 1000 USDT becomes 1800 USDT. Volatility is mild with almost no flash crashes, offering peace of mind and a very low risk of liquidation.

• Crypto futures: Assume BTC rises 8% in the same bullish environment. The theoretical profit is also 80% with 10x leverage. However, BTC often experiences drawdowns of 10–15%. The position could easily be liquidated or partially liquidated midway, potentially causing you to lose the principal even if the final direction is correct.

Scenario 2: Extreme market volatility (negative news)

• Stock perps: The market drops 4% in a day due to Fed comments. With 10x leverage, the loss is 40%, leaving 600 USDT in balance. U.S. stocks rarely drop over 10% in a single day and tend to recover, with fewer cascading liquidations.

• Crypto futures: With the same 10x leverage, a 10% flash crash (common in crypto) would result in a 100% loss, wiping out the account.

These examples show that stock perps allow leverage to amplify returns without amplifying the risk of ruin. This is especially valuable during earnings season or macro events, letting you capture alpha assets in U.S. stock markets while avoiding the brutal washouts typical of crypto.

Who are Bitget stock perps best suited for?

1. Investors bullish or bearish on U.S. stocks without a traditional account: You can trade directional moves on popular stocks like Apple, Tesla, Nvidia, and Coinbase directly with the USDT in your crypto wallet, bypassing the hassle of traditional brokerage accounts, cross-border transfers, and geographic restrictions.

2. Crypto natives familiar with crypto futures and 24/7 markets: The trading interface, order types (limit, market, and conditional orders), leverage adjustment, position management, and funding mechanics closely mirror BTC/USDT or ETH/USDT perpetual futures. For seasoned crypto traders, the learning curve is nonexistent, and the trading hours are a huge upgrade from traditional market hours.

3. Aggressive/speculative traders seeking high leverage: With leverage far exceeding the 2–4x margin offered by traditional stock brokers, it's perfect for using smaller capital to capture big rallies (like in Tesla or Nvidia) or for taking huge short positions on overvalued tech names. Note that this also implies extremely high risk and is suitable only for users with a high risk tolerance.

4. Hybrid traders active in both crypto and stocks: One Bitget account and one pool of USDT capital lets you seamlessly rotate between crypto futures and stock perps. This maximizes capital efficiency and operational speed, especially for those who frequently rebalance or seek cross-market hedges.

5. Professional or semi-professional traders seeking low-barrier, 24/7 access: This includes those looking to hedge crypto portfolios, speculate on tech stocks/indices, or run grid/quantitative bots. The platform supports TradingView charts, APIs, and professional tools like TP/SL orders.

Conclusion

If you're a crypto veteran tired of high-volatility blowouts but still want to participate in the growth of top global companies (like Apple, Tesla, Nvidia), Bitget stock perps are an excellent choice. They combine the best of both worlds—leverage, 24/7 access, and low barriers, while significantly reducing the FOMO emotion specific to crypto.

Trading involves significant risk. Start with small amounts, use low leverage, always set TP/SL, and trade responsibly. Feel free to try it out on Bitget!