Bitunix CFDs - Bridging Digital Assets and Traditional Financial Markets

Analyst Research Team

Group On-chain HCCVenture

Overview of Bitunix and TradFi CFD products

Bitunix is known as a digital asset exchange, with spot trading and perpetual contracts for both crypto and stocks. The TradFi CFD product marks an expansion: Bitunix built its own CFD module (Proprietary CFD Module) for crypto users to access traditional financial markets without having to leave the familiar ecosystem.

In the first phase (Phase 1), users can trade forex, gold and precious metals, commodities, stock indices and ETFs. Single stock CFDs are planned for the next phase. The product is available on both Web and App (iOS/Android), fully implemented but with compliance controls and regional restrictions.

CFDs (Contract for Difference) are derivative instruments. A trader uses margin to open a position according to the price movement of an underlying asset. Profit or loss is calculated only from the difference between the opening price and the closing price of the position. The trader never actually owns gold, foreign currencies or fund certificates. Core principles:

1. Users trade on arbitrage, not owning the underlying asset.

2. It is possible to open Long (Buy) or Short (Sell).

3. Leverage amplifies both profits and risks.

4. Positions do not have an expiration date. Positions are only closed when the user actively closes them, when TP/SL is touched, or when the risk management system liquidates.

Bitunix CFDs are not tokenized real assets (RWAs) and are not tokenized shares, as there are no on-chain tokens that represent ownership. It is also not a futures contract, as the position does not have an expiration date. Unlike perpetual crypto, which uses funding rates, CFDs charge a swap as is customary in traditional financial markets.

Technology platform that operates Bitunix CFDs

Bitunix does not build CFDs as a secondary feature attached to the futures system. It is an independent module: the account, fee logic, and risk logic are all separate from regular futures. This architecture consists of many technological components, each of which takes on a stage in the trading lifecycle.

The funds used for CFDs are in a separate account, completely separate from the Spot and Futures accounts. All indicators of this account, such as balance, equity, margin, and profit and loss, are displayed in USDx, the unit of accounting that Bitunix has designed specifically for CFDs. Behind the scenes, the payment logic remains in USD.

USDx is not a cryptocurrency and is not a stablecoin that can be withdrawn from a wallet. During this phase, USDx is pegged 1:1 to the USDT-denominated asset. When a user transfers USDT in, the balance only changes the way it is displayed and the asset value remains the same. This design isolates risk: volatility in CFD accounts does not affect crypto assets in other accounts.

The price of each CFD product is referenced from the market data of financial institutions for forex, metals, indices, commodities and ETFs. This is the input for the entire system of quotes and risk calculations. As a result, the price on Bitunix closely follows the underlying market instead of depending on the internal supply and demand of the exchange.

STP (Quote Engine) with quote-driven CFDs: the system receives the reference price, applies STP (Straight Through Processing) logic and spread layers, and then pays the user a price pair:

• Ask: the price at which the user buys, used when opening a long or short position.

• Bid: the price at which the user sells, used when opening a short or closing a long position.

The Quote Engine has the ability to personalize quotes: different users can see different spreads and prices on the chart. This allows the system to adjust the spread for each group of users or partners instead of applying a general level. Since there is no order book, users do not see as much market depth as when trading crypto. Liquidity is guaranteed by the platform and liquidity providers, and the cost of trading is entirely in the spread.

Bitunix CFDs run directly on the Web and App, without the need for MT4/MT5 (MT4/MT5 connection is not currently supported). The system accepts three groups of orders: Market orders that are matched immediately according to the current quoted price, Limit orders waiting for the price to reach the preset level, and TP/SL orders (take profit/stop loss). TP/SL can be set according to the price, the amount of profit/loss (PnL) or the percentage change. The system has two modes of placing orders. Basic Mode has a confirmation step before sending an order. One-click Mode sends orders as soon as the user clicks Buy or Sell, for traders who need speed. After enabling and confirming One-click, the system does not ask again at each order. In terms of position structure, each time an order is opened, it creates an independent position, which is not included in the old position by default. Each account has a maximum of 300 pending orders and 300 positions, and requests that exceed the limit will be automatically rejected.

Before receiving any order, the system simulates the account status after the order is filled. If the expected margin level violates the safety threshold, the order is rejected immediately, even if the balance is still available. This layer of protection helps users not to open positions that exceed the account's capacity, instead of having the account liquidated immediately after entering the order.

CFD Risk Engine

The Risk Engine is the safety hub of the CFD module, consisting of multiple mechanisms that work together. Cross margin at the account level. Instead of having each position have its own margin (isolated), the entire CFD position uses the same margin source. The profit of one position can offset the loss of another, and the risk is measured by a single indicator, the Margin Level.

Tiered Margin. The larger the position, the higher the margin requirement, calculated progressively according to each risk level. This mechanism helps the system control positions that are too large compared to market liquidity.

Continuous monitoring and multi-channel alerts. The Margin Level is continuously recalculated and displayed in color: red below 100%, yellow from 100% to 200%, green from 200% or more. When the Margin Level drops to 80% or lower, the system sends alerts simultaneously through four channels: email, SMS, in-app messages, and push notifications.

Automatic partial liquidation. When the Margin Level reaches 30% or lower, the system starts to partially reduce the position until the risk improves, instead of closing it all at once. If the usual position reduction is not enough, the system triggers the takeover mechanism: the position is transferred to liquidity providers.

Negative Balance Protection. When the price jumps suddenly, such as at the market opening at the beginning of the week, and pushes the equity below 0, the system goes straight to the takeover process and compensates for the deficit itself. Users never owe more to the platform, although they can still lose all of their margin.

Every day, at 00:00 server time (05:00 summer or 06:00 winter Beijing time, i.e. around 04:00 or 05:00 Vietnam time), the system calculates the swap itself overnight for all open positions. On Wednesday night, the swap is tripled to compensate for Saturday and Sunday, according to the bank's settlement cycle. Holidays are also adjusted accordingly.

For products related to stocks or indices, the system handles corporate actions on its own: on the ex-dividend trading day, long positions are awarded dividends (after deducting withholding tax), while short positions are deducted corresponding dividends.

Quote system is different from Crypto

With Spot and Perpetual products, the price is formed from the order book: the user's buy and sell orders match . Bitunix CFDs do not operate according to this model. The system uses a quote-driven model:

1. Market Reference Feeds receive the underlying market's institutional price data.

2. The Quote Engine applies STP logic and spread layers, and creates a price pair for the user:

• Ask: the price the user buys (go long, or close short)

• Bid: the price at which the user sells (open short, or close long)

1. Personalized quotes: different users can see different spreads and chart prices.

2. Execution: Market orders match the current quoted price; Limit orders wait until the quoted price reaches the set level.

Position Model: Each time an order is opened, it creates an independent position, which by default is not combined with the old position. Long and Short can coexist on one product. Up to 300 pending orders and 300 positions per account. Requests to exceed the limit will be rejected.

Transaction fee and cost schedule

Bitunix CFDs do not charge a commission for opening or closing orders. The main cost is the spread, which is the difference between the Ask and Bid prices. For example, when gold (XAUUSD) has a Bid price of 4,157.60 and an Ask price of 4,157.77, the spread is 0.17. For one lot of gold (100 ounces), the spread cost is 17 USD.

In addition to the spread, the overnight position holder is responsible for the swap fee. Swaps can be negative (paid by the user) or positive (received by the user), depending on the Long/Short direction and the interest rate difference between the two currencies or assets. For stock-related products, the index may also incur dividend adjustments. The transfer of funds between the Bitunix account and the CFD account is an internal transfer. External deposit and withdrawal fees apply according to Bitunix's general regulations.

Each product has its own set of parameters, which can be found in the Info tab. Take gold as an example: a contract size equivalent to 100 ounces, a minimum volume of 0.01 lots, a maximum of 5 lots per order, a volume jump of 0.01 lots and a tick size of 0.01. The maximum leverage is up to 500 times. Swaps are calculated in points, with a long swap of about −72.46 and a short swap of about +30.70 at the time of reference. The triple swap calculation date is Wednesday.

The margin of gold is calculated in five steps, based on the total value of risk (exposure):

Leverage is fixed for each product, users do not adjust it for each order. The actual leverage level also depends on the existing position, pending orders and the value of new orders. The above parameters are taken at a time and are for illustrative purposes only.

Calculation Formula Set

1. Spreads

Spread = Ask − Bid

Example: XAUUSD Ask 4,157.77 − Bid 4,157.60 = 0.17. Spread cost for 1 lot = 0.17 × 100 oz = 17 USD.

2. Notional Value

Notional Value = P_counterparty × C_size × L

C_size: contract size; L: number of lots; P_counterparty: counter price (Bid with Long, Ask with Short)

3. Unrealized Profit/Loss (uPnL)

Long (Buy): uPnL = (P_Bid − P_Entry) × C_size × L Short (Sell): uPnL = (P_Entry − P_Ask) × C_size × L

Long positions are priced according to Bid (the price you will sell to close the order). Short positions are priced according to the Ask (the price you will buy back to close the order). Therefore, as soon as the order is opened, uPnL is negative by the spread.

1. Example 1 - Long US500 (S&P 500): Entry price 5,100.00; contract size 1; 10 lots; Current Bid 5,125.50 uPnL = (5,125.50 − 5,100.00) × 1 × 10 = +255 USD

2. Example 2 - Short EURUSD: Entry price 1.08500; contract size 100,000 EUR; 0.5 lots; Current Ask 1.08150 uPnL = (1.08500 − 1.08150) × 100,000 × 0.5 = +175 USDx

4. Risks and margin used

Risk Exposure = | Total Notional Long − Total Notional Short| × USD Exchange Rate

Used Margin = | Risk Exposure| × Margin Rate − Margin Offset

Progressive margin: each exposure is proportional to the tier it falls into. Margin Offset is an adjustment that helps the single-line formula produce the same result as the stacking of each tier.

Illustrative example (according to the set of assumed tiers in the product documentation: 5% for the first 10 million, 10% for the part from 10 to 30 million, 20% for the part above 30 million). One lot of gold at 2,500 is worth about 250,000 USD. Buying 32 lots creates an exposure of 8 million USD, which is neatly in tier 1, so the margin is 8,000,000 × 5% = 400,000 USD. Buying 60 lots creates an exposure of 15 million: the first 10 million bears 5% (500,000), the next 5 million bears 10% (500,000), a total of 1,000,000 USD. Buying 160 lots creates an exposure of 40 million, going through all three tiers: 500,000 + 2,000,000 + 2,000,000 = 4,500,000 USD.

5. Account health metrics

Account Equity = Wallet Balance + Total uPnL

Margin Level = Account Equity / Used Margin

Available Margin = max(0, Wallet + Total uPnL − Total Position Margin)

For example, you have 1,000 USDx and buy 1 lot of gold at about 4,157. The exposure is about 415,776 USD, which is 0.20%, so the margin used is about 831.55 USDx. When the price goes against you, you lose 350 USDx, the capital is 650, the Margin Level is about 78%, and the system sends an alert. If the loss increases to 760 USDx, the capital is 240, the Margin Level is about 29%, and the system starts liquidation. In other words, with 500x leverage, the price of gold only needs to fall by about 7.6 USD per ounce, less than 0.2%, and this account has been liquidated.

6. Overnight swap fees

Forex, metals (in points): Swap = Lots × Contract Size × Tick Size × Swap Rate

Stocks (in percentage): Swap = Lots × Contract Size × Closing Price × Swap Rate / 360

7. Wednesday Night: Swap × 3

Example: Holding 1 lot of gold long overnight with swap −72.4633: 1 × 100 × 0.01 × (−72.4633) ≈ −72.46 USD. Wednesday night this level becomes around −217.39 USD. Conversely, holding short with a swap of +30.7045 will earn about 30.70 USD per night.

8. Dividends

Added Long = Lots × Dividend per share × (1 − Tax withheld)

Deducted Short = Lots × Dividends per share

For example, with 10 lots, a dividend of 0.50 USD and a 30% withholding tax, a long position is added 3.5 USD, and a short position is deducted 5 USD.

Beginner's Guide

Step 1: Create a Bitunix account. Go to the official registration page or download the Bitunix app, select Sign Up and register with your email or phone number. Set a password, read the Terms of Use and Privacy Policy, and enter the verification code sent to email or SMS. After registering, it is recommended to enable Google Authenticator for two-factor security and complete identity verification (KYC).

Register for a CFD account here and receive a 100 USD bonus!

Step 2: Activate your CFD account. On the web, log in and select the CFD item in the menu bar, then select Enable Account. On the app, go to Futures, select CFDs, and then click Open. The system will ask for additional KYC if it is missing, let you read the risk disclosure and confirm the activation. Note that CFDs are only open to certain regions.

Step 3: Deposit funds into the CFD account. In the CFD interface, select Transfer. Select the source of the Spot or Futures account, the target is the CFD account, and then enter the currency and amount. After confirmation, check that the balance is in USDx.

Step 4: Get to know the product before entering the order. Open the Info tab of the product you want to trade to see the contract size, minimum volume, leverage, margin level, swap level, and trading hours. This step helps you know how much money a lot is equivalent to and how much it costs to hold the position overnight.

Step 5: Place the first order. Select the product, see the Bid/Ask price, and then select Buy if the price is expected to rise or Sell if the price is predicted to fall. Enter the volume (beginners should start from 0.01 lots), choose a Market or Limit order, and set the Take Profit/Stop Loss. Before confirming, double-check the required margin, the spread, and whether the market is in session.

Step 6: Monitor and close the order. Always keep an eye on the Margin Level indicator, preferably in the green zone (200% or more). If you receive an alert at 80%, deposit more funds or reduce the position immediately. You can close the order manually or let the take profit/stop loss activate itself.

Step 7: Withdraw profits. Transfer the balance from the CFD account to the Spot account, then withdraw according to the methods supported by Bitunix.

A few safety tips: always set a stop loss, don't use the entire balance as margin, check swap fees before holding positions overnight (especially Wednesday nights), be careful with weekend gaps, and only turn on One-click Mode when you get used to it.

Risk management: Margin Level, liquidation, negative balance protection

Bitunix uses account-level cross margin: all CFD positions share the same margin source instead of each separate margin position. When the 30% threshold is reached, the system reduces the position gradually until the risk improves. If the regular position reduction is not enough, the takeover mechanism with the liquidity provider will be activated.

Before receiving an order, the system simulates the risk of the account after the trade. If the expected Margin Level violates the required threshold, the order is rejected, even if the balance is still in funds.

When a strong price gap causes negative equity, the system goes straight to the takeover process and compensates for the negative balance. Users do not owe additional platforms. Note: this mechanism does not protect the initial margin, you can still lose the entire amount in your CFD account.

Why Choose Bitunix CFDs?

The biggest advantage of Bitunix CFDs does not lie in being cheaper than any forex broker. The advantage lies in the seamlessness between crypto and traditional finance. With traditional brokers, users often have to open a new brokerage account, deposit funds via bank or e-wallet, and install MT4/MT5 or cTrader. With Bitunix, users only need to activate CFDs on their existing accounts, transfer funds internally in seconds, and trade right on the familiar interface.

A crypto trader who wants to hedge gold, trade macroeconomic news on the EURUSD pair, or follow the S&P 500 index can do it all in a single ecosystem. A multi-layered risk management system, including pre-execution blocking, multi-channel alerts, partial liquidation, and negative balance protection, gives users more peace of mind.

Frequently Asked Questions

Is USDx a cryptocurrency?

Nope. USDx is only the unit of display and accounting for CFD balances, pegged 1:1 to the USDT-denominated asset during this period. When USDT is converted to USDx, you lose no value.

Why is my order rejected even though I still have funds?

The system simulates the risk of the account after the order is executed. If the order for the account violates the safe margin threshold, the order will be rejected.

Why do I keep Long and Short equally but the capital still changes?

Each direction is priced according to the counterpart price (Long by Bid, Short by Ask), so when the spread changes, the total capital also changes.

Can I adjust the leverage myself?

Not yet. During this period, the leverage is fixed for each product.

Can I use MT4/MT5?

Not available at the moment. You trade directly on Bitunix Web and App.

What happens to my position when the market closes?

The position is still held, but you cannot open or close the position until the next session.

If the market gaps strongly, will I have floor debt?

Nope. The negative balance protection mechanism will cover the deficit, but you can still lose the entire deposit.

Conclusion

Bitunix CFDs are a complete technological infrastructure to bring the traditional financial market into the digital asset ecosystem, not just a new derivative product. This infrastructure includes a regional compliance control layer, a separate account ledger with USDx, a personalized STP quote engine, a pre-trade risk checker, a multi-tier Risk Engine, an automated session schedule, and a recurring settlement system. Along with no commission fees and no need to install MT4/MT5, these components help Bitunix stay true to the "more than one crypto exchange" orientation.

Risk Warning: CFDs are highly leveraged derivatives, up to 500x on some products. Leverage amplifies both profits and losses, and you can lose your entire deposit in a very short time. Spreads, swaps, and price gaps can significantly affect trading results. The product is not available in some regions. The article is for informational purposes only, not investment advice. The parameters are illustrative examples at a time; always check the latest information on the Bitunix platform.

Disclaimer

This report was prepared by HCCVenture Research with the aim of providing information, research, and market analysis. The entire content of the report is based on publicly available data, on-chain data, market data, venture capital (Venture Capital) data, macroeconomic data, and HCCVenture's internal research methodologies at the time of publication. Data sources are compiled from numerous reputable research platforms and organizations, including but not limited to Glassnode, CoinGecko, TradingView, Dune Analytics, CoinGlass, CryptoRank, RootData, PitchBook, DefiLlama, CryptoQuant, Messari, Token Terminal, Artemis, CoinMarketCap , public blockchain data, reports from financial institutions, investment funds, blockchain companies, and other publicly available information sources. HCCVenture strives to select reliable data sources and applies a verification and cross-checking process throughout its research. However, HCCVenture does not guarantee the completeness, accuracy, timeliness, or error-free nature of all data due to differences in statistical methods, data collection scope, update times, or adjustments from data providers.

All opinions, assessments, valuation models, cyclical analysis, on-chain data, capital flow analysis, Venture Capital activity, ETFs, Digital Asset Treasury Companies (DATs), technical indicators, macroeconomic indicators, and scenarios presented in this report reflect only the research views of HCCVenture Research at the time of publication, based on available assumptions and data. These contents are not investment advice, financial advice, legal advice, accounting advice, tax advice, brokerage advice, portfolio management advice, or recommendations to buy, sell, or hold any digital asset, security, financial product, investment fund, blockchain protocol, or business. The digital asset and blockchain markets are highly volatile and are influenced by global liquidity, monetary policy, regulatory regulations, macroeconomic conditions, and many other unpredictable factors. Therefore, the trends, patterns, correlations, or historical cycles mentioned in this report are not guaranteed to repeat in the future and should not be considered reliable predictions of market developments. Readers should conduct their own independent research ( DYOR – Do Your Own Research ) and consult with qualified financial, legal, tax, or investment professionals before making any decisions. Any investment decisions or actions arising from the use of information in this report are the sole responsibility of the reader.

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