What is zaif Air FX?

airFX
Orderbook tradingに近い価格感で取引できるAirFX
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?

ビットコインAirFXは実際にはOrderbook tradingではありませんが、あたかも現物かのように高いレバレッジで取引ができるため、「AirFight(空中戦) Exchange」の意味で名付けられました。
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.

また、Orderbook tradingではないため、取引中のビットコインの移動や、ポジションの現物による精算(現引き・現渡し)はできません。

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の仕組みについて

AirFX取引では、お客様は証拠金以上の損失を被ることなくお取引いただけます。
AirFX取引においては、お預かりした証拠金を超える損失が発生しないよう、未解消のポジションの含み損失額が証拠金の額に達した場合、その時点で反対売買がなされ、当該ポジションが強制的に解消される仕組みを導入しています。
すなわち、未解消のポジションについては、証拠金維持率が30%を下回った時点でロスカット注文が自動的に発動されますが、相場の急変等の事情により、ロスカット取引が実行される前に、含み損失の額が証拠金の額に達した場合には、お客様の未解消のポジションは、他の含み益ポジション保有者を相手方とする反対取引が実行されることにより、強制的に解消されます。

EPS発動グラフ
強制決済

この仕組みをEPS(Early Profit Settlement)と呼び、全てのお客様に対して追加証拠金(以下「追証」といいます。)を発生させないための仕組みとして導入しています。この仕組みにより、AirFX取引においては、お預かりした証拠金を超える損失は発生しません。

EPSによって、あるお客様について未解消のポジションが強制的に解消される場合、当該お客様の保有する未解消のポジションを追証が発生しない価格で全て解消するために、必要な反対取引をその目的の限度で行いますが、当該反対取引の相手方は、未解消のポジションを有する他のお客様の中から含み益の多い順に自動的に選択されます。

含み損ユーザー

したがって、AirFX取引を行うお客様は、含み益のある未解消のポジションを保有している場合、含み損を抱える他のお客様の未解消のポジションにつきEPSが発動した場合には、強制決済のための反対取引の相手方として選択され、自らは能動的に取引の注文を出していないにもかかわらず、保有する含み益ポジションが強制的に解消され、当該含み益が実現される可能性があることにご注意ください。AirFX取引を開始する場合又は継続して行う場合には、上記のEPSの仕組みについて、内容及びAirFX取引の契約締結前交付書面をよく把握し、ご理解いただいた上で、お取引くださいますようお願いいたします。EPSの仕組みにご同意いただけないお客様はAirFX取引を行うことはできません。

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.
  • AirFXの利用規約を読み、リスクについて理解し、規約に同意していること

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.
We give Swap fee sequentially, and it may take time depending on the situation. Please liquidate after confirming that you have gotten swap fee.

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 25% = margin requirement of 50,000 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.通貨選択ボタンからAirFXをご選択ください「ビットコインAirFXについて」をよくお読みいただき、内容を確認した上で同意を行いフォームを送信してください。

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.