Learn not to blow up
before you trade.
Perpetual futures aren't a coin flip. Once you can actually work out the leverage, the liquidation price and the funding rate, you know where the real risk in a trade sits — and that's what we break down here, one piece at a time.
Leverage risk
The higher the multiple, the smaller the adverse move that may trigger liquidation — high leverage means standing closer to the line.
Distance to liquidation
At 10x, a move against you of about 1/leverage (≈10%) triggers liquidation; work out that buffer before you open.
Funding rate
A holding cost settled under the platform's current rules; check both the cycle and rate when you use it.
Risk per trade
Choose the loss limit you can personally absorb, then size the position back from the stop distance.
Latest updates
An ongoing set of futures risk-control notes — each starts from a question that actually trips beginners up.
Tools that put the risk in numbers
Pure front-end math — nothing goes online, no rates are hard-coded. Lay the numbers out before you open a position, instead of going on gut feel.
Read these first
Four long-form pieces that cover, in depth, the places futures cost people the most money.
what to know before your first trade
Perpetual futures, fully unpacked: long/short, leverage, margin
See in one diagram how perpetual futures work — and why they wipe out your capital far more easily than spot.
From Gate signup to contract-ready: your risk controls before the first trade
Liquidation & leverageHow the liquidation price is calculated, and why it's so easy to get wiped out
Funding rateThe funding rate in full: who pays whom, how it's worked out, and how much it costs you
Risk managementHow to control stops, position size and leverage — learn not to blow up first
Risk educationWhy 100x leverage is a trap, not an opportunity
Find answers by question
First, check Gate is available where you live
Gate is a global exchange, but whether you can use it — and how — depends on your own country and its rules, not on anything written here. This is the part most English-language guides skip. Run the check yourself before you open an account.
Restricted regions. Some countries and territories are excluded, and the list changes. Read the restricted-jurisdictions section on Gate's official terms for where you live before you register — that page, not this one, is what governs your account.
KYC is mandatory. Verifying with a real ID is required to trade futures; there is no legitimate way around it. If a "shortcut" asks you to buy or borrow someone else's verified account, walk away.
A VPN doesn't change the rules. Masking your location does not change the law where you actually live, or your tax position. It can also breach the exchange's terms and get funds frozen. It is not a workaround for a region that isn't served.
Tax and reporting are on you. Gains, losses and reporting obligations follow your local law. Keep your own records; the exchange won't file for you, and "nobody will notice" is not a compliance plan.
The exchange mechanics can wipe out your capital on their own — but a large share of losses in English-language crypto communities come from people, not markets. Learn to spot these before you fund an account:
"Guaranteed" or "risk-free" daily returns. Signal groups and "managed accounts" promising a fixed percentage a day are the oldest tell there is. Leverage has no risk-free setting; anyone claiming otherwise is selling something.
Fake "Gate support" in your DMs. Real support does not message you first on Telegram, Discord or X, and never asks for your password, seed phrase or a "verification transfer." Anyone who does is an impersonator.
Recovery scams. If you've already been burned, a second wave will offer to "recover" your funds for an upfront fee. That is the same scam wearing a rescue costume — there is no paid service that claws back on-chain losses.
None of this needs an account to protect against. When you do trade, size back from your stop with the position size calculator and practise on a demo account first.
Everyone out there is calling trades.
We just teach you how not to get fleeced.
The Kongcang editorial team is a group of people who got burned by futures and only later worked out what was going on. We don't predict prices, call trades or pick coins — we just explain the mechanics and the risk. This is education, not investment advice. Futures are a high-risk product and you can lose your entire principal.
All guides and tools
18 articles and 8 tools on one page. Pick the one for wherever you're stuck.