{"id":10854,"date":"2026-03-05T16:12:41","date_gmt":"2026-03-05T08:12:41","guid":{"rendered":"https:\/\/blog.alltick.co\/zh-CN\/?p=10854"},"modified":"2026-03-05T16:12:41","modified_gmt":"2026-03-05T08:12:41","slug":"%e9%bb%91%e6%9c%9f%e5%b8%b8%e8%a7%81%e6%9c%af%e8%af%ad%e4%b8%80%e8%a7%88","status":"publish","type":"post","link":"https:\/\/blog.alltick.co\/zh-CN\/%e9%bb%91%e6%9c%9f%e5%b8%b8%e8%a7%81%e6%9c%af%e8%af%ad%e4%b8%80%e8%a7%88\/","title":{"rendered":"\u9ed1\u671f\u5e38\u89c1\u672f\u8bed\u4e00\u89c8"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

\u5728\u8fdb\u5165\u9ed1\u671f\u5e02\u573a\u4e4b\u524d\uff0c\u7406\u89e3\u57fa\u7840\u672f\u8bed\u662f\u6700\u76f4\u63a5\u3001\u6700\u6709\u6548\u7684\u51c6\u5907\u3002\u5f88\u591a\u4eba\u7b2c\u4e00\u6b21\u63a5\u89e6\u9ed1\u671f\uff0c\u603b\u89c9\u5f97\u590d\u6742\uff0c\u4e3b\u8981\u539f\u56e0\u5728\u4e8e\u672f\u8bed\u5806\u53e0\u2014\u2014\u4e00\u65e6\u672f\u8bed\u6ca1\u641e\u6e05\u695a\uff0c\u5e02\u573a\u64cd\u4f5c\u548c\u5206\u6790\u90fd\u5bb9\u6613\u504f\u79bb\u8f68\u9053\u3002\u672c\u6587\u68b3\u7406\u4e86\u9ed1\u671f\u5e38\u89c1\u672f\u8bed\uff0c\u540c\u65f6\u987a\u5e26\u8bf4\u660e\u5982\u4f55\u5229\u7528\u884c\u60c5\u63a5\u53e3\u6765\u52a0\u6df1\u7406\u89e3\u3002<\/p>\n\n\n\n

1. \u6760\u6746\uff08Leverage\uff09<\/strong><\/h2>\n\n\n\n

\u6760\u6746\u662f\u9ed1\u671f\u6700\u6838\u5fc3\u7684\u6982\u5ff5\u4e4b\u4e00\u3002\u5b83\u7684\u4f5c\u7528\u5c31\u662f\u7528\u76f8\u5bf9\u8f83\u5c0f\u7684\u8d44\u91d1\u63a7\u5236\u66f4\u5927\u540d\u4e49\u4ef7\u503c\u7684\u4ed3\u4f4d\u3002\u4f8b\u5982\uff0c10\u500d\u6760\u6746\u610f\u5473\u7740\u4f60\u7528 1 \u4e07\u8d44\u91d1\u53ef\u4ee5\u64cd\u4f5c\u540d\u4e49 10 \u4e07\u7684\u5934\u5bf8\u3002<\/p>\n\n\n\n

\u5173\u952e\u70b9\u5728\u4e8e\uff1a\u6760\u6746\u65e2\u653e\u5927\u6536\u76ca\uff0c\u4e5f\u653e\u5927\u4e8f\u635f\u3002\u5bf9\u65b0\u624b\u6765\u8bf4\uff0c\u7406\u89e3\u6760\u6746\u80cc\u540e\u7684\u4fdd\u8bc1\u91d1\u6bd4\u4f8b\u3001\u6d6e\u52a8\u98ce\u9669\u548c\u5f3a\u5236\u5e73\u4ed3\u903b\u8f91\u81f3\u5173\u91cd\u8981\u3002<\/p>\n\n\n\n

\u8fd9\u91cc\u884c\u60c5\u63a5\u53e3\u5c31\u80fd\u6d3e\u4e0a\u7528\u573a\uff1a\u901a\u8fc7\u5b9e\u65f6\u548c\u5386\u53f2\u4ef7\u683c\u6570\u636e\uff0c\u4f60\u53ef\u4ee5\u6a21\u62df\u4e0d\u540c\u6760\u6746\u4e0b\u7684\u8d44\u91d1\u66f2\u7ebf\uff0c\u7406\u89e3\u4ef7\u683c\u6ce2\u52a8\u5bf9\u8d26\u6237\u51c0\u503c\u7684\u5b9e\u9645\u5f71\u54cd\u3002<\/p>\n\n\n\n

2. \u4fdd\u8bc1\u91d1\uff08Margin\uff09<\/strong><\/p>\n\n\n\n

\u4fdd\u8bc1\u91d1\u662f\u5f00\u4ed3\u65f6\u9700\u8981\u7f34\u7eb3\u7684\u8d44\u91d1\u6bd4\u4f8b\uff0c\u901a\u5e38\u5206\u4e3a\u521d\u59cb\u4fdd\u8bc1\u91d1\u548c\u7ef4\u6301\u4fdd\u8bc1\u91d1\u3002\u521d\u59cb\u4fdd\u8bc1\u91d1\u51b3\u5b9a\u4f60\u80fd\u5f00\u591a\u5927\u4ed3\uff0c\u7ef4\u6301\u4fdd\u8bc1\u91d1\u5219\u51b3\u5b9a\u4f60\u80fd\u627f\u53d7\u591a\u5927\u6d6e\u4e8f\u800c\u4e0d\u89e6\u53d1\u5f3a\u5e73\u3002<\/p>\n\n\n\n

\u5728\u9ed1\u671f\u5e02\u573a\uff0c\u4fdd\u8bc1\u91d1\u6bd4\u4f8b\u53ef\u80fd\u968f\u4ea7\u54c1\u3001\u5e02\u573a\u6ce2\u52a8\u548c\u5e73\u53f0\u89c4\u5219\u53d8\u5316\u800c\u8c03\u6574\u3002\u901a\u8fc7\u8c03\u7528\u884c\u60c5\u63a5\u53e3\u83b7\u53d6\u5b9e\u65f6\u6307\u6570\u548c\u6ce2\u52a8\u7387\uff0c\u6295\u8d44\u8005\u53ef\u4ee5\u63d0\u524d\u8ba1\u7b97\u4e0d\u540c\u4fdd\u8bc1\u91d1\u6bd4\u4f8b\u4e0b\u7684\u6f5c\u5728\u98ce\u9669\uff0c\u4ece\u800c\u505a\u51fa\u66f4\u7a33\u59a5\u7684\u4ed3\u4f4d\u89c4\u5212\u3002<\/p>\n\n\n\n

3. \u5f3a\u5236\u5e73\u4ed3\uff08Liquidation \/ Forced Close\uff09<\/strong><\/h2>\n\n\n\n

\u5f53\u8d26\u6237\u51c0\u503c\u4f4e\u4e8e\u7ef4\u6301\u4fdd\u8bc1\u91d1\u65f6\uff0c\u5e73\u53f0\u4f1a\u5f3a\u5236\u5e73\u6389\u4ed3\u4f4d\u3002<\/p>\n\n\n\n

\u8fd9\u4e2a\u673a\u5236\u662f\u6760\u6746\u64cd\u4f5c\u4e0b\u4e0d\u53ef\u5ffd\u89c6\u7684\u5b89\u5168\u9600\u3002\u7406\u89e3\u5f3a\u5e73\u903b\u8f91\u4e0d\u4ec5\u6d89\u53ca\u516c\u5f0f\u8ba1\u7b97\uff0c\u8fd8\u9700\u8981\u7ed3\u5408\u5b9e\u65f6\u5e02\u573a\u6ce2\u52a8\u3002\u884c\u60c5\u63a5\u53e3\u53ef\u4ee5\u63d0\u4f9b\u79d2\u7ea7\u6216\u5206\u949f\u7ea7\u4ef7\u683c\u53d8\u5316\uff0c\u901a\u8fc7\u6a21\u62df\u6d6e\u4e8f\u548c\u89e6\u53d1\u6761\u4ef6\uff0c\u4f60\u53ef\u4ee5\u770b\u5230\u6f5c\u5728\u7684\u5f3a\u5e73\u98ce\u9669\u533a\u95f4\uff0c\u4ece\u800c\u63d0\u524d\u8bbe\u7f6e\u5fc3\u7406\u9884\u671f\u548c\u8d44\u91d1\u7ba1\u7406\u7b56\u7565\u3002<\/p>\n\n\n\n

4. \u70b9\u5dee\uff08Spread\uff09<\/strong><\/h2>\n\n\n\n

\u70b9\u5dee\u662f\u4e70\u5165\u4ef7\u4e0e\u5356\u51fa\u4ef7\u7684\u5dee\u989d\uff0c\u5728\u9ed1\u671f\u5e02\u573a\u5c24\u5176\u91cd\u8981\uff0c\u56e0\u4e3a\u5b83\u76f4\u63a5\u5f71\u54cd\u4ea4\u6613\u6210\u672c\u3002<\/p>\n\n\n\n

\u6709\u4e9b\u9ed1\u671f\u4ea7\u54c1\u7684\u70b9\u5dee\u968f\u5e02\u573a\u6ce2\u52a8\u8c03\u6574\u3002\u901a\u8fc7\u884c\u60c5\u63a5\u53e3\u76d1\u6d4b\u4e0d\u540c\u65f6\u95f4\u6bb5\u7684\u4e70\u5356\u62a5\u4ef7\uff0c\u4f60\u53ef\u4ee5\u6e05\u695a\u5730\u770b\u5230\u70b9\u5dee\u53d8\u5316\u8d8b\u52bf\uff0c\u4ece\u800c\u4f18\u5316\u5165\u573a\u548c\u51fa\u573a\u65f6\u673a\u3002<\/p>\n\n\n\n

5. \u6302\u94a9\u6807\u7684\uff08Underlying Asset\uff09<\/strong><\/h2>\n\n\n\n

\u9ed1\u671f\u4ea7\u54c1\u901a\u5e38\u6302\u94a9\u67d0\u4e00\u6307\u6570\u3001\u671f\u8d27\u6216\u73b0\u8d27\u8d44\u4ea7\u3002\u7406\u89e3\u6302\u94a9\u6807\u7684\u7684\u6027\u8d28\uff0c\u80fd\u591f\u5e2e\u52a9\u4f60\u9884\u5224\u4ef7\u683c\u8d70\u52bf\u4e0e\u6ce2\u52a8\u7279\u70b9\u3002<\/p>\n\n\n\n

\u7ed3\u5408\u884c\u60c5\u63a5\u53e3\uff0c\u4e0d\u4ec5\u53ef\u4ee5\u83b7\u53d6\u9ed1\u671f\u81ea\u8eab\u4ef7\u683c\uff0c\u8fd8\u80fd\u540c\u6b65\u83b7\u53d6\u6302\u94a9\u6807\u7684\u7684\u5b9e\u65f6\u6570\u636e\uff0c\u4ece\u800c\u5206\u6790\u4ef7\u683c\u540c\u6b65\u6027\u3001\u6ea2\u4ef7\u6216\u6298\u4ef7\u60c5\u51b5\u3002<\/p>\n\n\n\n

6. \u9694\u591c\u5229\u606f\uff08Overnight Fee \/ Swap\uff09<\/strong><\/h2>\n\n\n\n

\u9ed1\u671f\u4ea7\u54c1\u5982\u679c\u6301\u4ed3\u8fc7\u591c\uff0c\u901a\u5e38\u4f1a\u4ea7\u751f\u9694\u591c\u5229\u606f\u8d39\u7528\u3002\u957f\u7ebf\u6301\u4ed3\u8005\u5fc5\u987b\u8ba1\u7b97\u5229\u606f\u6210\u672c\uff0c\u77ed\u7ebf\u4ea4\u6613\u8005\u4e5f\u8981\u6ce8\u610f\u53ef\u80fd\u7d2f\u79ef\u7684\u5c0f\u989d\u6210\u672c\u3002<\/p>\n\n\n\n

\u884c\u60c5\u63a5\u53e3\u53ef\u4ee5\u63d0\u4f9b\u5386\u53f2\u7ed3\u7b97\u548c\u5229\u606f\u53c2\u6570\uff0c\u8ba9\u4f60\u4e8b\u5148\u6d4b\u7b97\u6210\u672c\uff0c\u907f\u514d\u610f\u5916\u7684\u8d44\u91d1\u6d88\u8017\u3002<\/p>\n\n\n\n

7. \u6d41\u52a8\u6027\uff08Liquidity\uff09<\/strong><\/p>\n\n\n\n

\u6d41\u52a8\u6027\u51b3\u5b9a\u4e86\u4e0b\u5355\u7684\u6267\u884c\u6548\u7387\u548c\u6ed1\u70b9\u98ce\u9669\u3002\u9ed1\u671f\u5e02\u573a\u6d41\u52a8\u6027\u901a\u5e38\u4e0d\u5982\u4ea4\u6613\u6240\u96c6\u4e2d\u671f\u8d27\uff0c\u5c24\u5176\u5728\u591c\u76d8\u65f6\u6bb5\u3002<\/p>\n\n\n\n

\u901a\u8fc7\u884c\u60c5\u63a5\u53e3\u76d1\u63a7\u6210\u4ea4\u91cf\u548c\u76d8\u53e3\u6df1\u5ea6\uff0c\u53ef\u4ee5\u6e05\u695a\u5224\u65ad\u6d41\u52a8\u6027\u53d8\u5316\uff0c\u51b3\u5b9a\u4ed3\u4f4d\u5927\u5c0f\u548c\u5165\u573a\u7b56\u7565\u3002<\/p>\n\n\n\n

\u6700\u540e\u4e00\u53e5<\/strong><\/p>\n\n\n\n

\u9ed1\u671f\u5e02\u573a\u672f\u8bed\u8868\u770b\u4f3c\u7b80\u5355\uff0c\u4f46\u6bcf\u4e00\u4e2a\u6982\u5ff5\u90fd\u4e0e\u8d44\u91d1\u7ba1\u7406\u548c\u98ce\u9669\u63a7\u5236\u7d27\u5bc6\u76f8\u5173\u3002\u884c\u60c5\u63a5\u53e3\u5728\u8fd9\u91cc\u7684\u4f5c\u7528\u4e0d\u53ef\u4f4e\u4f30\uff1a\u4e0d\u4ec5\u8ba9\u4f60\u770b\u5230\u4ef7\u683c\u53d8\u5316\uff0c\u66f4\u80fd\u5e2e\u52a9\u4f60\u7406\u89e3\u6760\u6746\u3001\u4fdd\u8bc1\u91d1\u3001\u5f3a\u5e73\u548c\u6d41\u52a8\u6027\u4e4b\u95f4\u7684\u4e92\u52a8\u3002<\/p>\n\n\n\n

\u719f\u7ec3\u638c\u63e1\u8fd9\u4e9b\u672f\u8bed\u548c\u6570\u636e\u5206\u6790\u80fd\u529b\uff0c\u662f\u8fdb\u5165\u9ed1\u671f\u5e02\u573a\u524d\u6700\u76f4\u63a5\u7684\u51c6\u5907\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

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