Dear WEEXer,
Read on to learn more about the elite trader's profit share.
An elite trader receives 10% of their copiers' profit.
Profit share = (copiers' profit – fee) × 10%
The profit share is settled daily.
1. How profit share is settled:
- When the elite trader closes the position, the system will deduct a certain amount from the copiers' accounts in advance if the copiers made profits that meet the profit share threshold. The actual profit share is settled at 12:00 AM the next day by calculating the actual total profit of the copiers for that day and using the total actual profit to calculate the actual profit share that should be distributed to the elite trader.
- If the actual profit share is less than the amount deducted from the copiers' accounts, the difference in the amounts will be returned to the copiers, and the resulting amount from the settlement calculation will be paid to the elite trader.
- If a Coin-M futures trading pair is traded in the elite trade, the profit share settlement will be in the cryptocurrency traded. However, the value is displayed in USDT on the profit share page in the WEEX app.
2. Profit share settlement time:
- If no copiers are copying positions linked to an elite trader (all copy trading positions are closed), the profit share will be settled the next day.
- If, on a given day, the copiers have copy trading positions linked to an elite trader, the profit share will not be settled the next day.
3. Which account will the profit share be distributed to?
The profit share is distributed to the account that the elite trader uses for elite trading.
For example: If an elite trader makes an elite trade with BTCUSDT, the profit share generated will be distributed to the elite trader's BTCUSDT futures account the next day after the position is fully closed. If the elite trader makes an elite trade with ETHUSDT, the profit share generated will be distributed to the elite trader's ETHUSDT futures account the next day after the position is fully closed.
More details about profit share:
The 'profit' mentioned below refers to net profit (net profit = gross profit – transaction fee).
1. Estimated profit share: 10% of the profit of the positions closed before today, and 10% of the profit of the positions closed today.
If the profit from the closed positions is positive, the estimated profit share for the day increases. If the profit from the closed positions is negative, the estimated profit share for the day decreases.
For example:
User A, User B, User C, and User D copy Trader M's trades. The trading pairs are BTC/USDT, ETH/USDT, and BCH/USD.
Scenario 1: User A makes a profit of 0.1 BCH from copying Trader M's BCH/USD trade. User A closes all positions before the settlement time point.
The profit share amount (0.1 BCH × 10% = 0.01) in BCH will be deducted from User A's account on the day User A closes all positions. This amount of 0.01 BCH will be distributed to Trader M the next day. If the exchange rate of BCH to USD at the time of profit distribution is 1 BCH = 350 USD, the data shown on the profit share page would be 3.5 USDT (0.01 × 350 = 3.5).
Scenario 2: User B copies Trader M and opens BTC/USDT, ETH/USDT, and BCH/USD positions. The BTCUSDT position makes a profit of 30U SDT, the ETH/USDT position makes a profit of 20 USDT, and the BCH/USD position makes a loss of 0.1 BCH. User B closes all positions before the settlement time point.
The profit share amount will be deducted from User B's account on the day User B closes the positions.
The amount is (30 USDT × 10%) + (20 USDT × 10%) – (0.1 BCH × 10%) = (5 USDT – 0.01 BCH).
If the exchange rate at the time of profit distribution is 1 BCH = 300 USD (0.01 BCH = 3 USD), the elite trader will receive 5 USDT – 3 USDT = 2 USDT the next day.
Scenario 3: User C copies Trader M and opens positions for BTC/USDT, ETH/USDT, and BCH/USD. User C makes profits of 30 USDT and 20 USDT from the BTC/USDT and ETH/USDT positions, and a loss of 0.1 BCH from the BCH/USD position. User C then closes the profitable positions before the settlement time point and leaves the loss-making BCH/USD position open.
The profit share amount for the profitable BTC/USDT and ETH/USDT positions (30 USDT × 10%) + (20 USDT × 10%) = 5 USDT is deducted from User C's account.
This profit share amount of 5 USDT is not distributed to Trader M the next day. This is because not all positions have been closed.
If User C closes the losing position on the third day, and the exchange rate of BCH to USD on that day is 1 BCH = 280 USD, the loss of 0.01 BCH on the third day has a value of -0.01 × 280 = –2.8 USDT.
Trader M will receive 5 USDT – 2.8 USDT = 2.2 USDT on the fourth day.
Scenario 4: User D copies Trader M and opens positions for BTC/USDT, ETH/USDT, and BCH/USD. All positions (profitable or not) remain open at the settlement time. Because all positions remain open, no estimated profit share is deducted in advance that day.
The WEEX Team
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