If you're new to Gate futures, start with USDT perpetuals. On BTC_USDT one contract is 0.0001 BTC, the minimum order is 1 contract and leverage goes up to 200x, but a futures account opened less than 3 days ago is capped at 20x. Three things to know before your first order: liquidation is triggered by the mark price; the estimated liquidation price for isolated margin already includes the 0.075% liquidation fee; and when a position is liquidated, Gate closes it in batches at the bankruptcy price and any surplus goes to the insurance fund (verified 15 October 2026). This guide uses Gate's help center and official API to cover the account modes, the BTC_USDT risk-limit table, the isolated liquidation formula, the insurance fund and ADL, funding rules and the most useful order settings, then works through a 0.01 BTC position. Check Gate's own pages before you trade.
For a side-by-side of beginner rules across exchanges (maximum leverage, minimum order, demo trading), see the futures beginner exchange comparison; this guide covers Gate only. If you haven't signed up yet: sign up for Gate with our referral code FEEOTTER and get 70% of your futures fees back (20% exchange automatic rebate + 50% extra rebate), 3.5 times the usual 20% code.
Gate BTC_USDT perpetual at a glance
| Item | USDT perpetual BTC_USDT |
|---|---|
| Margin and settlement | USDT |
| Contract size | 0.0001 BTC |
| Minimum order | 1 contract (0.0001 BTC) |
| Maximum leverage | 200x (position value up to 500,000 USDT); 20x for futures accounts opened less than 3 days ago |
| Liquidation trigger | Mark price |
| Funding | Every 8 hours, capped at ±0.3% |
| Regular user (VIP 0) fees | Maker 0.02%, taker 0.05% |
Sources: Gate's official API (futures/usdt/contracts/BTC_USDT and risk_limit_tiers), checked 2026-10-15; the leverage limit is from How to adjust the leverage, switch the margin mode or position mode; fees are from Gate's USDT-M perpetual fee announcement, and the rates shown on the official fee page after you log in take precedence.
Gate counts orders in contracts. 0.01 BTC is 100 contracts. Check which unit the order box is set to before you type a size, so you don't add an extra zero.
Before you start: KYC, testnet and account modes
Gate says identity verification (KYC) is mandatory to open and use a futures account: register, complete security verification, pass KYC, then click Futures and the account opens automatically. We found no official mention of a separate futures quiz; go by what the app shows when you activate futures.
To practise first, use Gate's futures testnet: on the web it's under Futures → Perpetual Futures → Testnet, and in the app it's in the settings menu at the top right of the futures page. You can claim 0.1 BTC or 1,000 USDT of demo funds a day; claims stop once your balance is above 1,000 USDT, and each claim must be at least 72 hours apart. Demo trades are not charged real fees, and demo funds can't be moved to spot. Source: How to trade futures on testnet.
Gate's unified account has four modes, and USDT perpetuals sit in a different place in each:
| Mode | Requirement | Where USDT perpetuals are |
|---|---|---|
| Classic Spot | None | A separate futures account; you transfer funds by hand |
| Single-Currency Margin | None; you can't be a futures lead trader, and IMR must be above 200% after upgrading | Inside the unified account |
| Multi-Currency Margin | Account assets worth at least 500 USD | Inside the unified account |
| Portfolio Margin | Account assets worth at least 1,000 USD; no isolated USDT perpetual positions or orders | Inside the unified account |
Sources: Unified account upgrade procedures and user guide and unified account modes. Gate says that once you upgrade to the unified account, you can't switch back to the old classic mode, so decide before you upgrade.
Isolated, cross and position modes
With isolated margin each position has its own margin; with cross margin, positions in the same settlement currency share the account balance. If you want a position's worst case to be the margin you put in, use isolated.
- One-way and Hedge Split modes: you can switch between isolated and cross even with positions open.
- Hedge mode: you can't switch between isolated and cross while you have positions or open orders.
- Switching position mode (one-way, hedge, hedge split): you need no positions and no open orders first. The path is Settings → Trading → Position Mode.
Sources: Isolated margin and cross margin and Instructions of hedge mode. Gate's current pages don't say which margin mode or leverage a new account starts with, so check the order panel yourself before your first trade.
BTC_USDT risk limits: bigger positions, lower leverage
Gate sets risk-limit tiers: the larger the position value, the lower the maximum leverage and the higher the maintenance margin rate. BTC_USDT has 19 tiers; the first 10 are:
| Tier | Position value up to (USDT) | Max leverage | Maintenance margin rate | Initial margin rate | Maintenance margin deduction |
|---|---|---|---|---|---|
| 1 | 500,000 | 200x | 0.30% | 0.50% | 0 |
| 2 | 1,000,000 | 150x | 0.35% | 0.67% | 250 |
| 3 | 1,500,000 | 125x | 0.40% | 0.80% | 750 |
| 4 | 2,000,000 | 110x | 0.45% | 0.91% | 1,500 |
| 5 | 3,000,000 | 100x | 0.50% | 1.00% | 2,500 |
| 6 | 5,000,000 | 80x | 0.70% | 1.25% | 8,500 |
| 7 | 10,000,000 | 60x | 0.85% | 1.67% | 16,000 |
| 8 | 15,000,000 | 50x | 1.00% | 2.00% | 31,000 |
| 9 | 20,000,000 | 40x | 1.20% | 2.50% | 61,000 |
| 10 | 30,000,000 | 30x | 1.60% | 3.33% | 141,000 |
Source: Gate's official API (risk_limit_tiers), checked 2026-10-15. Most retail positions fall in tier 1 (up to 500,000 USDT), with a 0.3% maintenance margin rate.
Liquidation: mark price trigger, closed in batches at the bankruptcy price
When it triggers
Gate uses the mark price to decide liquidation, not the last traded price that charts show by default. An isolated position is liquidated when its position maintenance margin ratio (position margin balance ÷ maintenance margin) falls to 100% or below. Source: Liquidation process.
Isolated liquidation and bankruptcy price formulas
Gate's Liquidation price and bankruptcy price page gives these formulas for isolated USDT perpetuals (minus for longs, plus for shorts):
Estimated liquidation price = (average entry price ∓ margin ÷ contract multiplier ÷ contracts) ÷ [1 ∓ (maintenance margin rate + taker fee rate)]
Bankruptcy price = (average entry price ∓ margin ÷ contract multiplier ÷ contracts) ÷ (1 ∓ taker fee rate)
Gate's own example uses a taker fee rate of 0.075%, the same as the liquidation fee rate. Gate also notes that the calculated liquidation price is for reference only; the actual price is wherever the maintenance margin ratio falls to 100%.
How liquidation is carried out
- Once triggered, the system closes the position in batches at the bankruptcy price, sized to market depth and position size, and stops when the maintenance margin ratio is back above 100%.
- The liquidation fee rate is 0.075%.
- Anything the market can't absorb is taken over by the insurance fund at the bankruptcy price.
- Any surplus after liquidation goes to the insurance fund, not back to you.
Gate's explanation: the insurance fund is funded by the maintenance margin left after liquidations, manual injections by Gate and profits from handling liquidation orders. If extreme volatility means the insurance fund can't fully absorb pending liquidation orders, auto-deleveraging (ADL) is triggered. (Gate insurance fund)
ADL: when the insurance fund can't cover it
Per Instructions of auto-deleveraging, selected counterparty positions are matched against the liquidated position at its bankruptcy price. The ranking score is return ÷ maintenance margin ratio for profitable positions and return × maintenance margin ratio for losing ones; positions already being liquidated are excluded. The ADL indicator next to a position has five bars, and more lit bars means you are nearer the front of the queue.
Funding: every 8 hours, hourly if it hits the cap
Funding is paid directly between longs and shorts: when the rate is positive, longs pay shorts; when it's negative, shorts pay longs. The system takes a snapshot of positions at the settlement hour, so you only pay or receive if you hold a position then. BTC_USDT settles every 8 hours at UTC 00:00, 08:00 and 16:00.
- Formula: funding rate = [average premium index + clamp(8-hour interest rate − average premium index, −0.05%, 0.05%)] ÷ (8 ÷ settlement interval in hours), then held within the cap. The base interest rate is 0.03% a day, or 0.01% per 8 hours, and the premium index is weighted more heavily as settlement approaches.
- Cap: set per contract; on 2026-10-15 Gate's API showed ±0.3% for BTC_USDT.
- Hourly at the cap: if the rate hits the cap or floor at a settlement, the system switches that contract to hourly settlement.
- Funding fee = mark price × contracts × contract multiplier × funding rate.
At the time of checking (2026-10-15), the BTC_USDT funding rate was 0.0098%. Sources: Funding rate and funding fee and Gate's official API.
Orders: four settings that protect you
Gate futures offers limit, advanced limit, market, smart market, conditional, TP/SL, TWAP, trailing stop and iceberg orders. These four matter most for beginners:
| Setting | What it does | When to use it |
|---|---|---|
| Post Only | Only rests as a maker order; it won't be sent if it would fill immediately | When you want the lower maker fee |
| Reduce-only | TP/SL orders are reduce-only by default, so they never open a position the other way | Stop-losses and take-profits |
| TP/SL trigger price | Choose last price, mark price or index price | Avoid stops triggered by a brief wick |
| Price deviation protection | A TP/SL won't fill if the gap between last, mark and index prices exceeds the system limit; you can turn it off under Setup on the futures page | Avoid fills at extreme prices in fast markets |
Sources: Contract order types, How to set TP/SL and the TP/SL FAQ.
Gate liquidates on the mark price. A stop-loss triggered on the last price and placed close to the liquidation price can be beaten by liquidation. Also, if a market order's fill price deviates more than 5% from the best opposite price, the unfilled part is cancelled, so a large market order may not fill in one go.
Worked example: 0.01 BTC isolated at 10x
Say you open a long of 100 contracts (0.01 BTC) on BTC_USDT at 82,000 USDT, isolated at 10x (tier 1, 0.3% maintenance margin rate). Using Gate's formulas with 0.075% as the taker fee rate, and leaving out funding:
| Item | Calculation | Result |
|---|---|---|
| Position value | 82,000 × 100 × 0.0001 | 820 USDT |
| Margin | 820 ÷ 10 | 82 USDT |
| Margin per BTC | 82 ÷ 0.0001 ÷ 100 | 8,200 USDT |
| Estimated liquidation price | (82,000 − 8,200) ÷ [1 − (0.3% + 0.075%)] | About 74,078 USDT (a drop of about 9.7%) |
| Bankruptcy price | (82,000 − 8,200) ÷ (1 − 0.075%) | About 73,855 USDT |
| If liquidated | Closed in batches at the bankruptcy price; surplus to the insurance fund | Effectively all 82 USDT of margin is lost |
At 5x the liquidation price is about 65,847 USDT (a drop of about 19.7%); at 20x it's about 78,193 USDT (a drop of about 4.6%). A futures account opened less than 3 days ago can't go above 20x.
On fees, Gate VIP 0 futures are maker 0.02% and taker 0.05%. Opening and closing this position with market orders costs 820 × 0.05% × 2 = 0.82 USDT; with limit (maker) orders it's 0.328 USDT. After binding through Fee Otter:
| Item | Rebate | Net taker | Net maker | Net taker cost for the example |
|---|---|---|---|---|
| Fee Otter rebate | 70% (20% exchange automatic rebate + 50% extra rebate) | 0.015% | 0.006% | About 0.25 USDT |
Of the 70%, 20% is paid back by Gate straight into your exchange account, and the other 50% is settled by Fee Otter daily at 16:00 (UTC+8); see the screenshot on the rates page. If you're already a VIP on an exchange and want to rebind or sign up elsewhere, contact support and we can help arrange special trading benefits or a higher rebate. For how net fees are calculated, see effective futures fees after rebate; for maker vs taker, see maker and taker fees explained.
Restricted locations
Gate's restricted locations page lists places where it does not provide services, including the United States, mainland China, Singapore, Canada, France, Germany, Hong Kong, Malaysia, the United Kingdom, the Netherlands, Spain, Japan, South Korea, Indonesia, Thailand, India, the UAE and Argentina. It says the list "includes but is not limited to" these, may change without notice, and that the user agreement prevails. For licences and registrations by country, see crypto exchange licences by country.
Risk: make sure you can afford to lose it
The example shows it: at 10x isolated, a move of about 9.7% against you liquidates the position, and any surplus margin goes to the insurance fund. Futures can wipe out your margin very quickly. Only use money you can afford to lose entirely, and practise stop-losses and reading the liquidation price on the testnet or at the minimum size first. Don't trust anyone who promises copy trading or managed accounts that only win.
Gate futures and rebates
Rebates only apply to trading fees. Funding is paid between traders, and margin left to the insurance fund after a liquidation isn't a fee, so neither earns a rebate; rebates also don't change your margin or liquidation price. Sign up for Gate with our referral code FEEOTTER and submit your UID on Fee Otter to get 70% of your futures fees back, settled daily and listed trade by trade; rates are set by the exchange and the platform and may change. Gate's referral code can only be entered at sign-up; if your account already used someone else's code, see the Gate rebind guide. For sign-up steps see how to register on Gate, and for fees and volume examples see the Gate fee rebate guide.
FAQ
What's Gate's maximum futures leverage? Can a new account use 200x?
BTC_USDT allows up to 200x in tier 1 (position value up to 500,000 USDT), but futures accounts opened less than 3 days ago are capped at 20x.
Does Gate charge a fee when you're liquidated?
Yes. Gate states a liquidation fee rate of 0.075%, and its estimated liquidation price formula already includes it. Any surplus after liquidation goes to the insurance fund.
What's the minimum order on Gate BTC_USDT?
1 contract, which is 0.0001 BTC. 0.01 BTC is 100 contracts.
When is Gate funding charged, and what's the cap?
BTC_USDT settles every 8 hours at UTC 00:00, 08:00 and 16:00. On 2026-10-15 Gate's API showed a cap of ±0.3%, and if the rate hits the cap at a settlement the contract switches to hourly settlement.
Does Gate have futures demo trading?
Yes, the testnet. You can claim 0.1 BTC or 1,000 USDT of demo funds a day; no real fees are charged and the funds can't be withdrawn.
Does the rebate change my liquidation price?
No. Fees are charged at the listed rate when your order fills, and the rebate is paid back afterwards, so it doesn't change your margin or liquidation price.
Further reading
Data verified: 2026-10-15
