Any order you place with Phemex will have a given value calculated as such:
Order value = Contract Quantity x Contract value
Contract Quantity is simply the number of contracts you wish to add to your order.
Contract Value is calculated differently depending on what type of contract you purchase or sell. The value is always expressed in the units of the settled currency. We offer two types of contracts:
- Inverse Contracts are those that are quoted in one currency and settled in a different one. The value of inverse contracts is calculated through the following equation:Contract Value = Contract Size/Executed PriceBTCUSD is an example of an Inverse Contract quoted in USD and settled in BTC. For BTCUSD contracts, the Contract Size is always equal to 1 USD. Consider the following example:
A trader buys 1000 BTCUSD contracts at the Executed Price of 6000 USD (per BTC). To calculate this trader’s order value, simply apply the order value equation as such:
Order Value = 1000 x (1/6000) = 0.16666666 BTC
- Linear Contracts are those that are quoted and settled in the same currency. The value for a Linear Contract is calculated as such:Contract Value = Contract Size x Executed PriceETHUSD is an example of a linear contract quoted and settled in USD. For ETHUSD contracts, the Contract Size is always equal to 0.005 ETH. Consider the following example:
A trader sells 500 ETHUSD contracts at the Executed Price of 120 USD (per ETH). To calculate this trader’s order value, simply apply the order value equation as such:
Order Value = 500 x 0.005 x 120 = 300 USD
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