Multi-currency Settlement

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إعلان Multi-currency Settlement

Multi-currency Settlement

2023-04-10 08:51:07 UTC 7630 قراءة

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Multi-currency settlement is supported in Gate.io's Portfolio Margin Account. You can enjoy the convenience of settling in different currencies in USDT-M market with one Portfolio Margin Account.

When the Portfolio Margin Account is enabled, you can choose to settle in USDT or other currencies during USDT perpetual futures trading. Profit/Loss (PNL), entry fee, exit fee and funding will be added or deducted from the account in the settlement currency.

Depending on the trading type, the multi-currency settlement will be divided into **real-time settlement** and **non real-time settlement**.

Real-time settlement, including exit PNL, exit fee and funding, will be added or deducted from the account in real time.
Non real-time settlement, including entry fee, will be added or deducted from the account with the next real-time settlement.

The settlement exchange rate will be converted based on the market price at the time of real-time settlement. There is no additional trading fee for multi-currency settlement. You can view the settlement details in Portfolio Margin Account - Transaction History.

**Notice**
1. The margin is still denominated in USD, and multi-currency settlement occurs only when funds transactions related to USDT-M contracts.
2. The market price of currency fluctuates at any time, and there may be slight slippage in settlement.

## Steps
1. Switch the account mode to Portfolio Margin Account.
![](https://gimg2.gateimg.com/image/article/16806007981.png)
2. Click the Setup icon on the upper right corner - Contract, and select the settlement currency. The default settlement currency is USDT.
![](https://gimg2.gateimg.com/image/article/16806008082.png)
3. There will be a success reminder on the screen after switching successfully.
![](https://gimg2.gateimg.com/image/article/16806008203.png)
4. You can check the settlement details in Transaction History of trading panel or Wallet page.
![](https://gimg2.gateimg.com/image/article/16806008294.png)

## Case

Tom chooses ETH as the settlement currency.

He opens a position of 0.002 BTC at 34,000 USDT with 10X leverage, The margin is 0.7 USDT, and the entry fee is 0.03264 USDT.

But the entry fee isn't settled in EHT because entry fee is non real-time settlement, and it will be consolidated into the next settlement.

Tom closes the position at the market price of 33.875. The amount to be settled is 0.31436038 USDT, which includes PNL of reducing position (0.2492 USDT),  entry fee (0.03264 USDT),  and exit fee (0.03252038 USDT).

The current market price of ETH is 1815 USDT, and the settlement amount is equivalent to 0.0001732 ETH.

While Tom has no ETH in his Portfolio Margin Account, so the ETH balance will be -0.0001732 ETH after the settlement.

## FAQ

### Q1: I chose to settle in ETH before opening a position, but I want to settle in USDT when close the position. Can I switch the settlement currency anytime?

A1: Yes, you can. But it is recommended that you confirm the settlement currency before opening a position to ensure that you can smoothly settle in the specified currency when closing the position, avoiding affecting your trading strategy.

### Q2: Are there any additional trading fees for multi-currency settlement?
A2: There are no trading fees, and all Portfolio Margin Account users can enable the multi-currency settlement.

### Q3: Why can't I find the settlement details of PNL in Transaction History?
A3: Settlement may be delayed. It is recommended to wait 3-5 minutes and then check again. If you can't view it after waiting a long time, please contact Customer Support to check it for you, and we will assist you in handling it properly.

### Q4: Can I change the currency being settled or has already been settled?
A4: Neither can be changed. Changing settlement currency only applies to current open positions, and we suggest you confirm the settlement currency before opening a position.

Gate.io reserves the final right to interpret the product.

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