What is zaif Air FX?

airFX
AirFX can trade at prices close to spot trading
追証ガードイメージ
EPS makes added cover unnecessary and prevents losses exceeding deposits
レバレッジイメージ
AirFX Deviation Reduction Mechanism

What is Air FX?

Bitcoin AirFX does not actually execute spot trades, but because it is able to trade as if it were, with high leverages, we have given it the name "Air Fight Exchange."
AirFX is a derivative product resembling typical futures but it does boast some key differences.

  1. Settlements are not executed according to time limits on AirFX. (Indefinite)
  2. Futures are traded at a price different from the spot price, but AirFX is capable of trading in the same manner as spot leverage trading, at prices that are close to the spot price.
  3. AirFX has a built-in mechanism to ensure the trade price is as close as possible to the spot price, in which swap fees are generated between users at fixed intervals (funding), based on the deviation from the Zaif spot price.

Additionally, because they are not spot trades, mid-trade Bitcoin transfers and closing by position spot (actual receipt/actual delivery) are not possible.

Making AirFX Trades

  1. You can get to the AirFX trading page from the exchange homepage as shown below.
  2. Exchange Home→Currency Selection button→Currencies→BTC AirFX
    AirFX取引画面までのアクセス

EPS makes added cover unnecessary

With AirFX, customers can trade without having to cover more than the amount of the deposit.
Previously, if a loss occurred that exceeded the deposit, as in a spot margin trade, there was a levy on additional assets, but AirFX eliminates all such losses.

On Zaif, for positions which have unrealized gains, forced settlements may be executed against other positions that may incur losses greater than the amount deposited due to such reasons as sudden market price fluctuations.
This mechanism is called EPS (Early Profit Settlement), as in put in place for all users so that they never have to provide additional cover.

With spot leverage in margin trading, customers do not suffer losses in excess of their account balance thanks to the margin call guard system, but trading cannot resume unless the balance is restored.
Such restrictions do not apply to AirFX, however, which uses EPS.

信用取引の場合
EPSの場合

In order to make transactions safer, for AirFX trades on Zaif, when held positions are loss-cut due to losses, the forced settlement line for EPS positions with unrealized gains or losses is set according to market price conditions to prevent losing assets in excess of the amount of a customer's deposit.
This system executes forced settlements on both user positions that carry unrealized losses, as well as those with unrealized gains, meaning at that point in time, the position with the greatest gains will undergo forced settlement.

相場急変で証拠金を割り込む価格変動があった場合
EPSが一番利益率が高い相対ポジションを検索
含み損ユーザーと含み益ユーザーを強制決済

This mechanism enables the customer to continue trading, within the range of their deposit, without having to worry about restrictions on transactions such as withdrawal limits.

However, EPS is no more than a mechanism to prevent losses occurring in excess of the margin in futures trading transactions. So please be aware that there is a possibility that after futures trades are settled, other leveraged trading may become a factor leading to an account going into the red.

追証ガードイメージ
EPS makes added cover unnecessary

4X maximum leverage

AirFX trades can be set at up to 4X leverage, enabling higher efficiency investments than ever before.

However, this also increases the risks associated with loss-cutting due to severe price fluctuations. In particular, please be aware when trading that there is a risk of suffering unexpected losses if the spread is large, or when the market price fluctuates violently, and you are trading at a high leverage expecting a big gain in a very short time, and a quick loss-cut negates it.

レバレッジイメージ
4X maximum leverage

The deviation reduction mechanism provided by AirFX

AirFX has a built in mechanism to ensure the trade price is as close as possible to the spot price, in which swap fees are generated between users at fixed intervals, based on the deviation from the Zaif spot price.
Swap points are paid from positions attempting to expand a deviation against positions trying to rectify a deviation.
Daily swap fees will be charged to both buyer and seller only when the deviation is designed to be higher the larger it gets, and there is no deviation.

乖離解消機構のスワップ手数料その1

乖離解消機構のスワップ手数料その2

Usage Conditions

  • Completion of identity verification
  • The account balance that can be secured as margin.
  • Please read Terms of Use for AirFX, and understand risks and agree to the terms of Use.

Fee

Trading Fee

(BTC/JPY) Maker fee: 0% Taker fee: 0%

Daily fee 0.039% of the open contract amount per day.
*Daily Fee = price rate at the point of fee charge × total order amount × fee rate
Swap fee Bitcoin AirFX trades will incur swap fees if the AirFX price deviates from the spot price.
Swap points are settled at two-hour intervals on even hours (0:00, 2:00, 4:00, etc.).
paid from positions attempting to expand a deviation against positions trying to rectify a deviation,
Daily swap fees will be charged to both buyer and seller only when the deviation is designed to be higher the larger it gets, and there is no deviation.
When Deviation Is Greater
Buy swap rate = (1 - buy board average price / index price)×100
Sell swap rate = (1 - buy board average price / index price)×100×(-1)
When Deviation Is Less
Buy swap rate = (1 - sell board average price / index price)×100
Sell swap rate = (1 - sell board average price / index price)×100×(-1)

The assignment of Swap Handling Fees to positions is done as a result of trades between customers - Zaif does not intervene in this assignment.

Deposits

The margin required fluctuates depending on the market trading situation, and the amount required is in accordance with the size of the order and the leverage.
In addition, when the Japanese yen balance is insufficient at the time of the order and the balance of BTC, XEM, or MONA is sufficient, we will automatically deposit BTC, XEM, or MONA as the margin in accordance with the rate.

Agreed amount of 100,000 yen x quantity of 2btc x margin rate of 4% = margin requirement of 8,000 yen
Reverage x4

Loss-cut

In order to prevent a loss from growing, if the margin rate falls below 30%, the loss cut is applied and there is a forced settlement of the held position.
Especially when trading with high leverage, the risk of loss-cutting due to severe price fluctuations naturally increases accordingly. In particular when the spread is large, or when the market price is fluctuating wildly, there is a danger of being subject to immediate loss-cutting and suffering unexpected losses, so please bear this fully in mind when trading.
In addition, the loss-cutting margin rate is not decided based on the final trading price, but the ratio is calculated by considering the order situation of the board.

If losses exceed the deposit

Even if a loss in excess of the margin occurs at the time of settlement due to sudden changes in the market, etc., due to the EPS (Early Profit Settlement) mentioned above, the shortfall is not collected from the balance of the customer account,
With spot leverage in margin trading, customers do not suffer losses in excess of their account balance thanks to the margin call guard system, but trading cannot resume unless the balance is restored.
In contrast, such a restriction does not apply to futures trading using EPS, and customers can trade within the margin.

However, EPS is no more than a mechanism to prevent losses occurring in excess of the margin in futures trading transactions. So please be aware that there is a possibility that after futures trades are settled, other leveraged trading may become a factor leading to an account going into the red.

Magnification of leverage

Regarding a high leverage ratio, such as 4x, because Zaif monitors the liquidity of the market in order to judge whether or not it can be used, there may be times when it is not available.

trade expiration date

AirFX expiration dates are not established in advance.

How to settle the Air FX trading

The closing method for AirFX trades is a margin close, in which only the difference between the "price at time of buy (or sell)" and "price at closing time" is received or delivered.
When AirFX trade orders are closed, the total of the gain/loss and fees are subtracted from your deposit at the same time as returns are paid. If any swap fees have been incurred, they will be collected separately.

手数料の発生するタイミング

Before Air FX trading

  1. 1.Complete identity verification (both phone number approval and identification documents), then log in *Please read here about identity verification
  2. 2.Deposit the Japanese yen required for the margin.
  3. 3.Please select the AirFX from the cryptocurrency button. Please read through "About Bitcoin AirFX" very carefully, and submit the form once you agree to the content.

Trade flow

  1. 流れ

    ①Even if you have submitted an order, it may be cancelled up until Step②is completed.
    Once Step②is completed, an order cannot be canceled, and you will hold the position until it is closed.

Trade procedure

  1. How to place an order
  2. 0.Check the swap fee.
    スワップ予測値の表示場所の説明
    スワップ予測値の説明文
  3. 1.Enter the price of the open position.
    希望する取引の価格を入力
  4. 2.Specify leverage.
    レバレッジを指定
  5. 3.Enter the quantity.
    数量を入力
  6. 4.Enter your desired reverse trade closing price in the Limit field.
    The figure you enter is your choice, but for reverse trades, you will be required to designate a limit.
    リミット欄に入力
  7. 5.Optionally set a stop loss.
    ストップロスを設定
  8. 6.Click the Buy Order (or Sell Order) button to confirm the order.
    注文が確定
  9. How to check the trade history
  10. 7.Once your order is confirmed, it will be displayed on your "Board," "Active Trades," and "Not Yet Completed Orders."
    売り注文が入ると、板とアクティブな注文と未約定注文に注文が表示されます。
  11. 8.Confirm the details of a specific order by going to Active Orders→Details.
    またアクティブな注文の詳細に詳しい情報があるので、詳細をクリックして表示します。
  12. 9.The details screen will show information such as Order Price/Quantity, Average Sell Position, Limit Buys, Paper Profit and Loss, and Margin Rate.
    詳細を開くと取引注文が表示されます。
  13. 10.Once you place an order, the contract to buy or sell will be displayed in your Trade History.
    売買が成立すると取引履歴に表示されます。
  14. Modifying an Order
  15. 11.To modify an existing order, click the "Change Order Price/Limit" button.
    注文内容を変更するには
  16. 12.To close a trade, enter the limit or stop price of your choice as the closing price, and click the "Update" button.
    *If you have not yet completed a Buy or Sell order, you can change the trading price from the "Order Price" tab on this screen.
    注文変更内容を指定して更新
  17. Checking Your Trade History
  18. 13.All reverse trades will be closed automatically when they are contracted.
    Trade details can be confirmed by going to "Trade History"→"AirFX Trade History".
    取引履歴

About Stop-Losses

Loss-cuts are an essential risk management tool for minimizing your losses each time you trade.
A loss-cut is an action that closes a position and closes its losses to prevent further losses when the market price continues to shift unfavorably.
Setting a stop-loss enables you to close an order without limit when the security reaches a price designated by the market value to automatically cut losses on a held position.
ストップロス画面
ストップロスチャート
01.Ordered This is the day you started the margin trading order. Fees will be incurred from this date and time.
02.Deposit This is your deposit of margin for making AirFX trades. This deposit will be restricted until you withdraw it or close it out.
03.Leverage By depositing funds as margin, you can trade several times the amount of margin.
04.fee per day Daily fees are charged once per day.
05.Accrued fees The total fees incurred to date.
06.Swap points Swap fees administered on AirFX
07.Action / Pair The trade category and securities trade names.
08.Price & Amount The price and quantity of an order.
09.Limit price This is the reverse trade price. We designate a price and execute a reverse trade to execute the closing.
10.Stop price If the market price reaches the spot price, the trade can be closed with a market order, automatically loss-cutting the position.
11.Position average price The average price and total quantity of all positions established through AirFX trades.
12.Closed The average price and the total quantity established in the reverse trading order.
13.Profit and Loss It is the amount of profit or loss with reference to the current price from the open position. The loan fee has already been deducted.
14.Profit and loss for deposits It is the profit and loss situation of the deposits. Deposits per currency unit vary depending on how the currency's trading situation changes in accordance with the volume of orders and leverage.
15.Margin rate Margin rate with ± 0 profit and loss of 100%. If it falls below 30%, it will be subject to loss-cutting.