#稳定币激增 The contract is really a thing that devours people without spitting out bones. Even profitable trades can lead to liquidation. I have been trading futures and forex for many years. Due to the need for deposits and withdrawals in U, I came into contact with the crypto world and thought there would be more volatility and opportunities. However, after using it a few times, I found that it was not the case at all. The rules are extremely unfair. The first is the funding rate. When the market is bearish, you pay more for shorts, and conversely, when the market is bullish, you pay more for longs. It collects fees six times a day every four hours, and the rates for some altcoins are frighteningly high. If you are trading medium to long term, even if you are on the right side, you may still face liquidation due to the funding rate. The second issue is that the transaction fees are outrageously high. For newcomers, the fee is 0.05% for opening and closing, which means a total of 0.1%. This fee is more expensive than all financial exchanges in the world (stocks, futures, spot, forex), and in some cases, it's dozens of times more. If you invest 1,000 U and trade contracts worth 1,000 each time, trading three times a day is not excessive, right? Even if you don't lose a single penny in less than a year, you will still face liquidation, and all your 1,000 will turn into transaction fees. Moreover, many people trade contracts far more than three times, and the amount for opening contracts is also far greater than 1,000. The third and most disgusting part is that in all global financial exchanges, the profit and loss are calculated as the contract value multiplied by the loss points, which is the loss amount. You lose as much as you lose. However, only in the crypto world is there a particularly disgusting rule called the liquidation fee, where your actual loss amount is always greater than the amount you should lose. This fee is so high that outsiders cannot even imagine it. The larger the position, the higher the liquidation fee. I've faced liquidation fees that were several times the actual loss amount. Losing 30 U with a 100 U position can lead to liquidation. The 30 is the loss amount, and the 70 is the liquidation fee—it's a direct and hard robbery. Recently, there's been another event contract, rock-paper-scissors. If you lose, you lose one unit; if you win, you only win 0.8 units, and there's a bit of a spread. Even if you place an order and the price stays the same until the time is up, you still lose. So I advise everyone to stay away from contracts. Of course, I know my advice is useless. If you can't stay away, don't use money you can't afford to lose, or else it will surely lead to irreversible consequences.