KuCoin's BTCUSDT perpetual goes up to 125x, but only in the first tier, for positions worth up to 250,000 USDT; other contracts cap anywhere from 3x to 100x, most often 20x. VIP0 fees are 0.02% maker and 0.06% taker, and funding settles every 8 or 4 hours depending on the contract. Sign up with referral code FEEOTTER and KuCoin automatically returns 60% of your futures fees, so a taker fill effectively costs 0.024% (checked October 2026).
This guide sticks to KuCoin's own futures rules: what one BTCUSDT contract is, how leverage drops as the position grows, when cross and isolated positions get liquidated, how funding is charged, and what a trade really costs after the rebate. Specs come from KuCoin's public futures API and rules from the KuCoin Help Center, checked on 2026-10-07. For leverage and minimum order sizes across exchanges, see the futures exchange comparison for beginners.
Sign up on KuCoin with code FEEOTTER and 60% of your futures fees come back automatically, 3× the 20% most referral codes give. The full cost calculation after the rebate is further down.
The short version: futures can wipe out your whole margin quickly. KuCoin's 125x is only for the smallest position tier, and liquidation is based on the mark price, not the last traded price.
Before you start: KYC and contract types
- KYC first: unverified accounts can't open or add to positions (KuCoin identity verification guide). The steps are in the KuCoin KYC guide.
- Contract types: on 2026-10-07 the API listed 682 USDT-margined perpetuals, 5 USDC-margined perpetuals and 5 coin-margined contracts (4 perpetual, 1 delivery).
- Fees: every one of them charges 0.02% maker and 0.06% taker at VIP0.
BTCUSDT perpetual specs (official API, 2026-10-07)
| Item | Spec |
|---|---|
| Contract size | 1 contract = 0.001 BTC |
| Max leverage | 125x (first tier only) |
| Tick size | 0.1 USDT |
| Fees (VIP0) | 0.02% maker, 0.06% taker |
| Funding interval | Every 8 hours |
| Funding rate cap / floor | ±0.3% |
| Margin modes | Cross and isolated |
Source: KuCoin futures API: XBTUSDTM (KuCoin uses XBT for BTC).
Of all 692 contracts, only BTCUSDT offers 125x; ETHUSDT offers 100x and SOLUSDT 75x. The most common cap is 20x (264 contracts), followed by 30x (130) and 50x (101). When you see "125x", check which contract it applies to.
Leverage and risk limits: bigger positions get less leverage
KuCoin controls leverage through risk limit tiers. The first six for BTCUSDT:
| Tier | Position value (USDT) | Max leverage | Initial margin | Maintenance margin |
|---|---|---|---|---|
| 1 | 0–250,000 | 125x | 0.8% | 0.4% |
| 2 | 250,000–600,000 | 100x | 1% | 0.5% |
| 3 | 600,000–2,500,000 | 75x | 1.4% | 0.7% |
| 4 | 2,500,000–10,000,000 | 50x | 2% | 1% |
| 5 | 10,000,000–50,000,000 | 30x | 3.4% | 1.7% |
| 6 | 50,000,000–90,000,000 | 20x | 5% | 2.5% |
Source: KuCoin risk limit API; check the official risk limit page for higher tiers. KuCoin's glossary also notes that maximum leverage falls tier by tier as the isolated risk limit rises.
Cross vs isolated margin
| Isolated | Cross | |
|---|---|---|
| Margin | Fixed per position, starting at position value ÷ leverage | The whole futures account balance; positions in the same settlement currency share it |
| Maximum loss | Limited to that position's margin; other positions unaffected | Can draw on the entire futures account |
| Unrealized profit | Stays with the position | Can be used to open new positions |
| Funding paid from | The position's margin | The futures account's available balance |
Sources: What is cross margin mode, funding fee.
What triggers liquidation
- Isolated: liquidation starts when the mark price reaches the estimated liquidation price. Positions in tier 2 or above are reduced tier by tier from high to low; a tier 1 position is liquidated in full.
- Cross: liquidation happens when the risk ratio reaches 100%. The cross liquidation price shown on screen is for reference only and doesn't trigger anything by itself.
Source: Liquidation and liquidation price (updated 2026-01-05).
The mark price is not the last traded price. For USDT-margined contracts it is the median of three prices: (1) index price × (1 + latest funding rate × time until next funding ÷ funding interval), (2) index price + 300-second moving average of the basis, and (3) the last traded price (mark price for USDT-margined futures). A brief wick won't necessarily liquidate you; a sustained move will.
Rough liquidation price for an isolated long
Open a BTCUSDT long of 100 contracts (0.1 BTC) at 80,000 USDT: position value 8,000 USDT, 10x leverage, 800 USDT initial margin, tier 1 with a 0.4% maintenance margin rate.
Liquidation price ≈ 80,000 × (1 − 1/10 + 0.4%) = 72,320 USDT
This estimate leaves out the liquidation fee. KuCoin's formula adds a liquidation fee rate, so the real price sits a little closer to your entry; go by the liquidation price on the position page after you open. At 50x the same position needs only 160 USDT of margin and liquidates around 78,720 USDT, a drop of roughly 1.6%.
After liquidation: insurance fund and ADL
If a liquidation order fills better than the bankruptcy price, the surplus goes into the insurance fund; if it fills worse, the fund covers the loss. The fund is fed by those surpluses and by capital from KuCoin, and its balance per settlement currency is shown on KuCoin's futures insurance fund page. If the fund can't cover losses in extreme markets, the auto-deleveraging (ADL) mechanism is triggered (insurance fund).
Funding: how often and who pays whom
- Direction: when the rate is positive, longs pay shorts; when it is negative, shorts pay longs.
- Interval: KuCoin says major contracts settle every 8 hours and most others every 4 hours, and it can switch to 1 hour temporarily in extreme markets. In the 2026-10-07 API data, 260 contracts were on 8 hours, 429 on 4 hours and 2 on 1 hour.
- Closing before settlement: if every position is closed before the settlement time, you neither pay nor receive funding.
- Caps: they differ by contract; BTCUSDT is ±0.3%, and the order page shows each one.
Formula: funding rate = clamp[(average premium index + clamp(interest rate − average premium index, 0.05%, −0.05%)) ÷ (8 ÷ N)], where N is the funding interval in hours (funding fee, updated 2026-09-25).
Fees and the rebate: what one trade really costs
Using the same 8,000 USDT position:
| Listed fee | KuCoin returns 60% | Net cost | Net rate | |
|---|---|---|---|---|
| Taker 0.06% | 4.8 USDT | 2.88 USDT | 1.92 USDT | 0.024% |
| Maker 0.02% | 1.6 USDT | 0.96 USDT | 0.64 USDT | 0.008% |
Opening and closing with taker orders costs 9.6 USDT before the rebate and 3.84 USDT after it. If you are already a VIP on an exchange and want to rebind or sign up on another one, contact our support and we can help you apply for special trading benefits or a higher rebate rate.
The 20% KCS fee discount covers spot and margin only, not futures (KuCoin). For effective futures rates across exchanges after rebates, see the KuCoin fee rebate guide.
Before you open an account
- US enforcement record: in January 2025 KuCoin pleaded guilty in the US to operating an unlicensed money transmitting business, agreed to pay more than $297 million and to leave the US market for at least two years (US Department of Justice).
- Start with low leverage: for the same position, more leverage puts the liquidation price closer.
- Don't park long-term holdings in the futures account: in cross mode the whole futures account is margin.
FAQ
What is the maximum leverage on KuCoin futures?
125x on the BTCUSDT perpetual for positions up to 250,000 USDT; 100x on ETHUSDT; most other contracts cap between 20x and 50x.
Why was I liquidated before my margin hit zero?
Liquidation happens when the mark price reaches the liquidation price. At that point the remaining margin still covers the maintenance margin and liquidation fee; it doesn't wait for zero.
How often is funding charged?
It depends on the contract: every 8 hours for major ones, every 4 hours for most others, and possibly every hour in extreme markets. The order page shows the next settlement time.
Do I pay funding if I close before settlement?
No. Close all positions before the settlement time and you neither pay nor receive.
Does the KCS discount apply to futures?
No. The 20% KCS discount applies to spot and margin only.
Does the rebate improve my liquidation price?
No. Fees are charged at the listed rate when the order fills; KuCoin returns the rebate afterwards, so margin and liquidation price at entry are unchanged.
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