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Hedging
Futures contracts allow to almost perfectly hedge the price risk of digital assets. Assume you own 1 Bitcoin (BTC) which currently trades at 35,000 USD and you want to lock in this price. By selling short 35,000 Futures contracts (each with a contract size of 1 USD on single-collateral futures), you have locked in the current price, no matter if BTC moves up or down.
Note: these examples are for demonstrative purposes only and do not include trading fees nor funding rate payouts.
EXAMPLE: PRICE INCREASESAssume you buy back the Futures at 40,000 USD. You incur a loss of ( 1 / 35,000 - 1 / 40,000 ) * (-35,000) = -0.125 BTC. Including your original 1 BTC, you now own only 0.875 BTC. At the new spot price of 40,000 USD, this is still worth 0.875 * 40,000 = 35,000 USD.
EXAMPLE: PRICE DECREASESAssume you buy back the Futures at 32,000 USD. Your profit is ( 1 / 35,000 - 1 / 32,000 ) * (-35,000) = 0.09375000 BTC. Including your original 1 BTC, you now own 1.09375 BTC. At the new spot price of 32,000 USD, this is still worth 1.09375 * 32,000 = 35,000 USD.

 

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