HTX's pre-market perpetual futures is USDT-margined derivatives that allow users to trade cryptocurrencies before their official listing on HTX Futures. Pre-market perpetual futures allows users to speculate on the price and liquidity of up-and-coming cryptos before they are open to the public on HTX.

Once the cryptos are officially listed, the pre-market perpetual futures will automatically transition into the regular perpetual futures.

 

1. Key Benefits of Pre-Market Perpetual Futures

Early Market Access: Trade new cryptos before they are officially listed and stay ahead of market movements.

Profiting from Volatility: Capture potential profits from the typically higher volatility of cryptos before their launch.

Seamless Transition to Regular Futures: Pre-market perpetual futures will automatically convert into regular perpetual futures once the cryptos are listed. Open positions and orders remain intact, with no manual action required.

 

2. How to Trade Pre-Market Perpetual Futures on HTX

1）On Web

• Visit HTX's official website and log in to your account. Tap Futures on the navigation bar to enter the futures trading section.
• In the trading pair selection area, choose [Pre-Market] to view all available pre-market perpetual futures trading pairs. Select your desired pair and start trading.

2）On App

• Open the HTX app and log in to your account. Tap Futures on the bottom navigation bar to enter the futures trading page.
• Tap the trading pair section in the upper left corner of the trading page. Choose [Pre-Market] to view all available pre-market perpetual futures trading pairs. Select your desired pair and start trading.

 

3. Risks of Pre-Market Perpetual Futures

1）Lower Liquidity

• Pre-market perpetual futures participation is usually lower than in the regular perpetual futures markets, resulting in thinner order books.
• Wider bid-ask spreads and higher slippage may occur.
• Order execution speed could be affected by a lack of sufficient counterparties.

2）Higher Volatility

• Due to fewer participants and less balanced orders, the market is more sensitive to price swings.

 

*Important Reminder: Pre-market perpetual futures comes with higher volatility, lower liquidity, and a greater risk of forced liquidation. Prices are highly sensitive to market sentiment and information, making this a speculative product. Please evaluate your risk tolerance carefully before trading, even as we continue to improve the trading experience.

 

4. Pre-Market Perpetual Futures FAQs

1）How does the pre-market perpetual futures work for a spot crypto listing?

Before spot crypto listing, the pre-market perpetual futures trading runs normally.

After spot crypto listing, the pre-market perpetual futures will gradually transition into regular perpetuals without further notice.

【During the transition period】

• No manual action is needed as conversion is automatic.
• K-line charts and trading entries remain unchanged.
• Open orders and existing positions remain intact.
• Risk parameters and index pricing sources may be adjusted.
• As the spot market establishes real pricing, futures volatility may increase significantly. Users should manage positions proactively.

If spot listing is cancelled or risk issues arise, the pre-market perpetual futures may be removed. Specific arrangements will be announced.

【Removal & Settlement Guidelines】

• Contracts will be settled at a reasonable price.
• Settlement time will be announced in advance and displayed on the trading page.
• After announcement, opening new positions will be restricted; only closing positions will be allowed.

 

2）Pre-Market Perpetual Futures Trading Metrics

• Margin Modes: Supports both the cross margin and isolated margin modes.
• Liquidation: Follows the same forced liquidation mechanism as regular perpetuals.
• Fees: Trading fees are the same as the regular perpetual futures.
• Pricing: Determined entirely by market supply and demand; may differ from actual crypto issuance price.
• Mark Price: Adopts the fair value calculated based on the index prices from major exchanges' pre-market contracts.
• Dynamic Adjustments: HTX may adjust parameters such as funding rate intervals, tick size, leverage caps, initial margin, and maintenance margin based on market conditions. Always refer to the latest data on the trading page.

 

3）What's the difference between pre-market spot and perpetual futures trading?

• Pre-market spot involves trading actual cryptos (if supported) while pre-market perpetual futures is USDT-margined derivatives and do not involve ownership of the underlying crypto.

 

4）Will pre-market perpetual futures affect the crypto's spot price for listing?

• Not directly. While pre-market perpetual futures may reflect market expectations, the spot listing price is influenced by multiple factors and may differ significantly. Ultimately, both prices are driven by supply and demand dynamics.

 

5）Will the conversion to regular perpetuals cause losses?

• No. The transition itself does not create extra costs or losses. All PnL results solely from market movements, not the conversion mechanism.

 

5. Risk Reminder

Trading pre-market perpetual futures contracts carries significant forced liquidation risks, due to the insufficient liquidity and extreme price volatility. Prices are sensitive to market sentiment and news, and the product is inherently speculative. Users bear full responsibility for their own risks. HTX assumes no liability for any losses you may incur and does not provide any advice. Please note that not all cryptos listed on the pre-market perpetual futures will necessarily be listed on HTX's spot markets.
The pre-market perpetual futures price may differ from a crypto's official listing price. We recommend that users closely monitor the last prices of the underlying crypto, keep track of their orders and positions, and manage their risk to avoid forced liquidation caused by market volatility.

HTX reserves the right to suspend pre-market perpetual futures trading at any time at its sole discretion. For more details, please refer to the User Agreement and Risk Reminder.

 

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