Contract Size | Order Quantity
The contract size is also called Lot Size, which is the smallest unit of the contract transaction quantity, that is, the quantity of a contract.
The relationship between contract size and quantity is as follows:
Order Cont.
Contract Size
Order Quantity
Quantity, Size Unit
Always match the underlying currency
Always match the quote currency
Why is the quantity of coin-margined futures in USD?
This is related to the mechanism of the reverse contract, please see How to understand the reverse contract.
Is this different from what I've seen on other exchanges?
You can use BTC as a unit to open positions on exchanges such as Binance, okx, etc., but you will find that as the price of BTC changes, the amount of BTC in your position is also changing. But you will find that as the price of BTC changes, the amount of BTC in your position is also changing. This is because coin-margined futures are all measured by 1 cont. = 1 USD and only the price conversion is performed when placing an order or displaying a position. You can switch the unit to ‘Cont.' and you will find that the number of positions will not change, that is to say, the real number of positions in USD.
Order value | Position value
Calculation of values
Order Value
Position Value
Unit
= Cont. * size * order value
= Cont. * size * mark price
= Cont. * size / order value
= Cont. * size / mark price
Underlying currency （BTC）
The value unit of USDⓈ-margined futures is the quote currency, which is easy to understand. The most difficult thing to understand about a coin-margined futures contract is the value because its underlying currency and pricing currency are reversed. You can refer to how to understand the reverse contract.
Underlying currency (BTC)
Underlying currency (BTC)