Bitcoin Perpetual · BTCUSDT

About Bitcoin (BTC)

Bitcoin is the world's first decentralized cryptocurrency, created in 2009 by the pseudonymous Satoshi Nakamoto. It enables peer-to-peer electronic cash transactions without intermediaries like banks or governments, operating on a blockchain secured by Proof of Work mining and the SHA-256 cryptographic algorithm.

Trading Bitcoin Perpetuals on Aster

On Aster, Bitcoin trades as the USDT-margined BTCUSDT perpetual: a contract with no expiry date, where your collateral and your profit or loss are both settled in USDT rather than in BTC itself. Leverage runs up to 200x on the standard order-book market, and funding is exchanged between longs and shorts every eight hours to keep the contract price tracking its index. Orders can be placed openly or through Aster's encrypted hidden orders, which keeps size out of the public book until the moment it executes.

The 200x figure is the cap on Aster's standard Pro (order-book) perp.BTC also has Aster's 1001x Mode — a one-click Simple-mode product that allows leverage up to 1001x on BTC, which Aster documents as carrying no open-position fee and no slippage against the quoted mark. At that leverage a ~0.1% adverse move can liquidate the position, so it's strictly for experienced traders who understand the risk.

How the BTCUSDT Perp Differs From Owning Bitcoin

Buying Bitcoin outright gives you the asset. Trading the BTCUSDT perpetual gives you exposure to what its price does without ever holding it: you post USDT as margin, and the position is closed out in USDT at whatever level you exit. That difference has three practical consequences. Going short is as easy as going long, so a falling BTC price is something you can trade rather than sit out. Position size can exceed collateral, up to 200x, which magnifies losses at exactly the same rate it magnifies gains. And funding is paid or received every eight hours for as long as the position stays open, a running cost that someone simply holding Bitcoin never encounters.

Fees and Leverage on the BTCUSDT Market

Aster charges 0% maker and 0.04% taker on USDT-margined perpetuals, so adding liquidity to the BTCUSDT book costs nothing and taking it costs 0.04% of notional. Two savings stack on top of that: paying fees in ASTER takes another 5% off at the point of trade, and signing up with referral code MMTz04 returns 5% of the fees you pay as a rebate Aster calculates daily and credits the next day. Leverage on Bitcoin is capped at 200x on the standard perp, with 1001x Mode allowing up to 1001x on the one-click Simple-mode product. Leverage does not change the fee rate, but it does change the notional those fees are charged against, so a 50x position pays fifty times the fee that the same collateral would pay unlevered. The full tier structure is in our full Aster fee schedule.

What to Know Before Trading Bitcoin

Three things decide whether a Bitcoin position survives. Funding is the first: the eight-hourly payment runs positive or negative depending on which side is crowded, and over days rather than minutes it compounds into a real drag on a held position. Liquidation is the second: at 200x, a move of roughly 0.50% against you consumes the margin backing the trade, before fees are counted. Liquidity is the third: depth on BTCUSDT varies by hour, and a market order sized past the visible book fills at progressively worse prices, which is the situation limit orders and hidden orders exist to handle. Set the stop before you open the position rather than after, and treat the leverage slider as a risk control rather than a way to buy more.

How to Trade Bitcoin on Aster in 4 Steps

1. 1Connect a wallet: open asterdex.com and connect MetaMask, Rabby, or another Web3 wallet. No identity verification is currently requested.
2. 2Deposit USDT: fund your account with USDT to use as margin collateral.
3. 3Open the BTCUSDT market: select Bitcoin, choose your leverage (up to 200x), and set your margin mode.
4. 4Place your order: market or limit, with optional hidden-order mode for size. Manage risk with stop-loss and take-profit.

Bitcoin Perpetual — Contract Specs

Frequently Asked Questions