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How Futures Trading Works on ATX

ATX is committed to transparency in all operations. This page explains in detail how our Futures system works — from price sources, order book construction, to liquidation mechanisms.

Price Sources & Liquidity

Prices on ATX Futures are sourced directly from the world's leading exchanges

Source Exchanges

ATX Futures only lists trading pairs that have futures contracts on Binance and OKX — the two largest derivatives exchanges by trading volume. This ensures liquidity and price reliability.

Binance Futures

OKX Futures

Price Data Flow

Real-time Connection

ATX maintains direct connections to Binance Futures and OKX Futures, receiving data in real-time with minimal latency.

Data Received

From each exchange, the system receives: continuously updated order books, mark prices, funding rates, and candlestick data.

Processing & Forwarding

After receiving, data is validated and filtered to handle any errors from the price source, then forwarded to the Price Stream module.

Currency Conversion (VNDC pairs)

For futures trading pairs denominated in VNDC, the USDT/VNDC exchange rate is fixed at the rate set when each pair was originally listed.

Why is the rate fixed?

Many VNDC futures pairs have been listed for a long time. If the USDT/VNDC rate changed in real-time, the prices of these pairs would increase or decrease abnormally — not reflecting the actual price movement of the asset, causing confusion for investors.

Does the fixed rate affect profits?

No. Since both entry price and close price use the same fixed rate, your profits and losses are entirely determined by the actual price movement of the asset (BTC, ETH, etc.) in USDT on the source exchange. The VNDC rate only serves as a display unit and does not affect trading results.

Mark Price

How Mark Price is calculated on ATX Futures

Mark Price Calculation

Mark Price is the most important reference price, used to calculate unrealized PnL, determine liquidation, and trigger TP/SL.

1. Mid-Price Calculation

Mark Price is calculated from the average of the best bid and best ask prices on the order book.

Mark Price = (Best Bid + Best Ask) / 2

2. Safety Mechanism

The system has a built-in safety mechanism: if for any reason the Mark Price becomes abnormally deviated (e.g., low liquidity, excessively wide bid-ask spread), or deviates significantly from the Mark Price on Binance/OKX, the system automatically pauses updates to protect investors and prevent impact on open positions. Mark Price only resumes updating when the price returns to a reasonable level.

3. Real-time Updates

After calculation, Mark Price is distributed to all systems (liquidation, PnL, TP/SL) and displayed on the user interface in real-time.

TP/SL & Liquidation

How Take Profit, Stop Loss, and position liquidation work on ATX Futures

Take Profit & Stop Loss (TP/SL)

TP/SL are conditional orders that automatically close positions when the price reaches your target (take profit) or stop loss level.

Trigger Mechanism

When Mark Price changes, the system checks all pending TP/SL orders. If Mark Price touches or exceeds your set trigger price, the TP/SL order is activated immediately.

Execution Method

Upon activation, TP/SL orders are converted to market orders and executed immediately with the full position volume. Long positions: both TP and SL are sell orders to close. Short positions: both TP and SL are buy orders to close.

Retry Mechanism

If an order cannot be executed immediately (e.g., due to high volatility), the system automatically retries multiple times within a maximum of 5 minutes. If still unsuccessful, the position is maintained and you will be notified.

TP/SL Profit/Loss Percentage

% Profit/Loss = (Direction × Volume × (TP/SL Price - Entry Price)) / Margin × 100%

Example: Long 1 BTC, entry at 100 USDT, margin 10 USDT
• TP at 110 USDT → Profit = +100%
• SL at 95 USDT → Loss = -50%

Cross Margin vs Isolated Margin

ATX Futures supports two margin modes with different characteristics:

Cross Margin

The entire wallet balance is shared as collateral for ALL open positions in the same asset type.

When a position is liquidated, it can affect the entire Futures wallet balance.

Suitable for investors who want flexibility in managing multiple positions simultaneously.

Isolated Margin

Each position has its own separate margin, independent of other positions.

When liquidated, you only lose the margin allocated to that specific position.

You can add more margin to a position at any time to avoid liquidation.

Liquidation Mechanism

Liquidation occurs when an account or position no longer has sufficient margin to maintain. The system uses Mark Price (not last trade price) to determine liquidation, preventing liquidation due to momentary price spikes.

Cross Margin Liquidation

Liquidation Price Formula:

Liquidation Price = (Adjusted Wallet Balance + Unrealized PnL of other positions - |Long Volume| × Long Entry + |Short Volume| × Short Entry) / (-|Long Volume| + |Short Volume|)

Safety Ratio

The system calculates a safety ratio based on the relationship between total unrealized PnL and wallet balance. A margin call warning is sent when the ratio drops below 40%. Liquidation is triggered when it drops below 20%.

Partial Liquidation

With Cross Margin, the system may partially liquidate a position instead of closing it entirely. The liquidation volume is calculated to restore the safety ratio to a stable level.

Multi-Position Handling

When an account has multiple positions, the system prioritizes protecting profitable positions and liquidates losing positions first.

Isolated Margin Liquidation

Liquidation Price Formula:

Liquidation Price = (Margin - Maintenance Margin - Volume × Entry Price) / Volume / (-Direction)

Where: Maintenance Margin = Initial Margin × Maintenance Margin Ratio

Margin Call Warning

With Isolated Margin, a margin call is sent when remaining margin drops to 30% of the initial value. The warning is cleared when margin recovers to 70%.

Example: Long 1 BTC, entry at 100, margin 10 USDT
• Margin call when price drops to: 93 USDT
• Warning cleared when price recovers to: 97 USDT

Full Liquidation

Unlike Cross Margin, Isolated Margin always liquidates 100% of the position. When price hits the liquidation price, the entire position is closed via market order. Other positions are completely unaffected.

Immediate Liquidation

In special cases when wallet balance + total unrealized PnL goes negative, the system liquidates immediately at the current mark price.

Liquidation Price Update Frequency

Liquidation prices are updated continuously. During high market volatility, updates happen immediately. During stable periods, updates are spaced out for optimal performance.

Liquidation Insurance Fund

ATX operates an internal insurance fund to protect investors in cases where liquidation results in unfavorable outcomes.

When does the insurance fund activate?

When a position is liquidated, in some cases (e.g., severe slippage, extremely fast market movements), the closing price may be worse than the expected liquidation price, causing your wallet balance to go negative. Instead of leaving the investor with a debt, the system automatically activates the insurance fund.

How it works

The system automatically detects negative wallet balances after liquidation and compensates the negative amount from the exchange's insurance fund, bringing your wallet balance back to 0. This mechanism applies to both Cross Margin and Isolated Margin.

Cross vs Isolated Margin Comparison

Feature	Cross Margin	Isolated Margin
Margin Source	Shared entire wallet balance	Separate per position
Liquidation Scope	Affects entire account	Only that position
Margin Call	Safety ratio < 40%	Remaining margin < 30%
Liquidation Type	Partial (restore to stable level)	Full (100%)
Add Margin	Automatic from wallet balance	Manual at any time

Transparency Commitment

All mechanisms described above are implemented precisely in ATX's production system. We believe transparency is the foundation of trust, and every investor has the right to understand the system they are using.

Verify Prices Yourself

ATX provides public APIs and WebSocket connections so you can independently verify the accuracy of prices on the exchange. You can compare ATX data with Binance/OKX data at any time.

REST API

The following endpoints require no login — you can access them directly in your browser:

Market data for all pairs

https://api.atxs.io/api/v1/futures/market_watch

WebSocket (Real-time)

To receive real-time price data, you can connect via WebSocket (Socket.IO) to:

Connection URL

https://stream-futures.atxs.io/ws

Mark Price by pair

futures_channel:mark_price:{symbol}

Compare with Source Exchanges

You can cross-check ATX data with Binance and OKX public APIs:

Binance Futures Mark Price

https://fapi.binance.com/fapi/v1/premiumIndex

OKX Futures Mark Price

https://www.okx.com/api/v5/public/mark-price?instType=SWAP