I. Definition of Coupon Recall Price
Coupon Recall Price refers to the forced liquidation price triggered for a futures position when a coupon is recalled due to losses.
During coupon usage, the system calculates the liquidation price based on “User Principal + Coupon Value.” When the coupon is recalled due to losses, the actual liquidation price is reached earlier than the originally calculated price.
To enhance risk visibility, we have added a “Coupon Recall Price” display for positions opened with coupons. This shows the exact liquidation price at the time of coupon recall, helping you better anticipate and prepare for potential liquidations.
II. Calculation Formula and Recall Logic
Coupons are automatically recalled when the coupon equity reaches zero. Coupon Recall Price is calculated based on the following calculation.
Coupon Equity Formula:
Available Equity = Wallet Balance + Unrealized PNL – Coupon Value * Loss Deduction Ratio – Profit Share (Frozen)
Components:
Unrealized PNL:
- Long: Unrealized PNL = (Coupon Recall Price X – Entry Price) × Number of Contracts × Multiplier
- Short: Unrealized PNL = (Entry Price – Coupon Recall Price X) × Number of Contracts × Multiplier
WB: Wallet Balance
CV: Coupon Value
LD: Loss Deduction Ratio (e.g., Deposit Coupons do not deduct losses, so LD = 0)
PS: Profit Share (Frozen)
LP: Average entry price for long positions
LQ: Quantity of long positions
M: Multiplier
SP: Average entry price for short positions
SQ: Quantity of short positions
Single-Asset Positions: Coupon Recall Price X = Numerator / Denominator
Where:
Numerator = WB – LP * LQ * M + SP * SQ * M – CV * LD – PS
Denominator = SQ * M – LQ * M
Notes:
- When no long positions exist, both LP and LQ are treated as 0; when no short positions exist, both SP and SQ are treated as 0.
- In cases of multiple long or short positions in the same asset, all positions are calculated cumulatively using the formula.
Multi-Asset Positions: Coupon Recall Price X = Numerator / Denominator
Where:
Numerator = WB – LP * LQ * M + SP * SQ * M – CV * LD – PS – min{0, Unrealized PNL}
Denominator = SQ * M – LQ * M
Notes:
- When calculating the recall price for Asset 1 in a multi-asset portfolio, LP, LQ, SP, and SQ are based on Asset 1’s positions only. If Asset 1 has no long positions, LP and LQ are set to 0; if it has no short positions, SP and SQ are set to 0. Unrealized losses from other assets (Assets 2, 3, etc.) are added cumulatively. Unrealized profits from other assets are excluded from the calculation.
- When multiple long or short positions exist across different assets, all applicable positions are calculated cumulatively according to the formula.
Rules for Calculating Coupon Recall Price X:
- If the calculated value of X is negative or exceeds 100 million, X is set to 0.
- For fully hedged positions (equal long and short quantities in the same asset), X is set to 0.
- For long positions, the recall price is rounded up according to the trading pair’s price precision.
- For short positions, the recall price is rounded down according to the trading pair’s price precision.
III. Display Rules
When you use any of the following coupons—Funding Bonus, Deposit Coupon, or Deposit Reward Coupon—the Coupon Recall Price will be displayed if the coupon value is fully depleted and triggers coupon recall. See example below:
Web
APP
Andorid
IOS
IV. Important Notes
- Please closely monitor your position when the mark price approaches the Coupon Recall Price to prevent forced recall from being triggered.
If you have any questions or concerns, please contact our customer support team for assistance. Thank you for your continued trust and support!
Tapbit Team
