To enrich trading varieties and optimize user experience, Gate will add Quanto perpetual futures and a stock zone which will be first launched on July 21, 2026 at 08:30 (UTC): TENCENTHKD (Tencent Holdings 00700.HK), ZHIPUHKD (Zhipu 02513.HK), MINIMAXHKD (MINIMAX-W 00100.HK), XIAOMIHKD (Xiaomi Group 01810.HK) Quanto perpetual futures, supporting 1-20x long and short operations, with leverage selectable when placing orders.
Tencent Holdings (0700.HK), a leading Chinese internet and technology giant. This contract takes Tencent Holdings as the underlying asset, with prices quoted at a 1:1 ratio of USDT to HKD.
Zhipu (02513.HK), a general artificial intelligence (AGI) foundation model company Zhipu AI. This contract takes Zhipu as the underlying asset, with prices quoted at a 1:1 ratio of USDT to HKD.
MINIMAX-W (00100.HK), a full-modal general artificial intelligence company. This contract takes MINIMAX-W as the underlying asset, with prices quoted at a 1:1 ratio of USDT to HKD.
Xiaomi Corporation (01810.HK), a globally leading consumer electronics and smart manufacturing company. This contract takes Xiaomi Corporation as the underlying asset, with prices quoted at a 1:1 ratio of USDT to HKD.
A Quanto contract is a type of futures product with a special structure. Its core feature is that the underlying asset is quoted and priced in the local fiat currency, while both the margin required for trading and the final profit/loss of the position are settled in a different currency. Taking MINIMAX Hong Kong stock-related contracts as an example, the underlying asset originally displays market prices in Hong Kong dollars (HKD) on the Hong Kong Stock Exchange. However, when calculating margin occupied and closing profit/loss, the platform directly converts the HKD-denominated prices into USDT for settlement based on a 1:1 ratio between USDT and HKD. Throughout the entire trading process, there is no foreign exchange conversion step between HKD and USDT.
Relying on Quanto Perpetual Futures, investors only need to hold USDT to directly trade various local-currency-denominated overseas stock derivatives such as Hong Kong stocks. Although the contract market page displays the original price of local currency underlying assets like HKD, all margin usage and close position settlement returns are executed in USDT, with no need to exchange currency in advance. This also isolates the additional forex gains/losses caused by exchange rate fluctuations, preventing exchange rate volatility from affecting the return of the stock trade itself.
Quanto Perpetual Futures and USDT-margined Perpetual Futures have the same calculation formulas for Profit/Loss (PnL), Trading Fee, and Liquidation. The following is an example:
User bought 10 TENCENTHKD long positions at an average price of 400, and closed the position after the price rose to 500.
Trading Fee (assuming a fee rate of 0.05%)
Trading Fee = Notional Position Value × Fee Rate = 400 × 10 × 0.05% = 2 USDT.
When opening a position, a trading fee of 2 USDT must be paid.
Funding Fee (fee rate 0.01%)
Maintenance Margin (Margin Ratio 1%)
When price = 400, Maintenance Margin = Notional Position Value × Margin Ratio = 400 × 10 × 1% = 40 USDT.
During the holding period, the account must maintain at least 40 USDT of Maintenance Margin, otherwise liquidation will be triggered.
Realized PnL
Profit/Loss (PnL) = (Closing Price – Opening Price) × Contract Size = (500 – 400) × 10 = 1000 USDT.
After closing the position, 1000 USDT is directly settled into the Futures Account.
The above figures are for reference in calculations only; the actual trade shall prevail.
Gate Team
July 21, 2026
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