Table of Contents
What is Covered Gain?
When should you use Covered Gain?
How does Covered Gain work?
Modes and Parameters
How to invest
FAQ
What is Covered Gain?
Covered Gain is a Dual Investment product that lets you earn high interest income while waiting to sell your crypto at a target price. APY ranges from 10% to over 300%, depending on your chosen target price and settlement date.
When should you use Covered Gain?
Covered Gain is ideal if you're already holding crypto and want to put it to work while waiting for your target sell price. Here are three common scenarios:
Scenario 1: You have a specific target sell price
If you believe BTC will rise to a certain level and plan to sell there, set that price as your target. You earn passive income in crypto while waiting, and automatically sell at your target if the price reaches it.
Scenario 2: You want to earn yield on crypto you're holding long-term
Even if you're not planning to sell soon, you can earn extra interest by setting a high target price you'd be comfortable selling at. If the price never reaches your target, you keep your crypto plus the earned interest.
Scenario 3: You want to systematically take profits on the way up
Use Pro Mode to set a percentage rise as your target. With auto-reinvest enabled, you continue earning interest while incrementally locking in gains as price moves upward, without needing to monitor the market actively.
How does Covered Gain work?
Covered Gain lets you sell crypto at a target price while earning interest income. You set a target sell price and investment amount; we find matching Dual Investment products for you to subscribe to.
Example: You want to sell 1 BTC at 22,000 USDT, but the current price is 20,000 USDT. You subscribe to Covered Gain with:
Target sell price: 22,000 USDT
Duration: 1 day
APY: 30%
Return at settlement: 0.6%
At settlement:
If BTC price < 22,000 USDT → you receive your investment × (1 + 0.6%) in BTC
If BTC price ≥ 22,000 USDT → your BTC (investment + interest) is sold at 22,000 USDT → you receive investment × (1 + 0.6%) × 22,000 in USDT
In short: if BTC stays below your target, you earn interest in crypto. If BTC reaches or exceeds your target, your crypto (plus earned interest) is sold at the strike price and you receive USDT.
Note: APYs and returns vary by settlement date and strike price. APY is calculated per second (not per day), so exact profit calculations using Investment × APY × Days / 365 may not match precisely.
Modes and Parameters
Covered Gain has two modes: Basic Mode and Pro Mode.
Basic Mode
Suitable for selling crypto at a fixed target price.
Parameter | Description |
Selling Price | The target price at which you want to sell crypto |
Investment | Amount of crypto to invest |
Lowest Tolerance APY | Minimum acceptable APY; products below this are filtered out |
Longest Period | Maximum acceptable settlement duration; longer products are filtered out |
Rules for auto-reinvest：The Auto-reinvest feature, the product will automatically reinvest your investment and yield into a new term with the same target price once the previous term expires until you successfully sell crypto. You can also locate the auto-renewal condition based on your strategy settings by following the steps shown in the image below.
Pro Mode
Suitable for selling crypto at a percentage rise from the current price.
Parameter | Description |
Rise from Price | The % price rise at which you want to sell |
Investment | Amount of crypto to invest |
Lowest Tolerance APY | Minimum acceptable APY; products below this are filtered out |
Longest Period | Maximum acceptable settlement duration; longer products are filtered out |
Auto-reinvest Rule: If you turn on auto-reinvest, the system automatically searches for dual investment products and selects the best fit for you. The products will have strike prices at “price at settlement of the last round *(1 + price rise in percentage)” when your subscription expires. We will reinvest your original investment and earned interest for you until you successfully sell crypto. You can also locate the auto-renewal condition based on your strategy settings by following the steps shown in the image below.
How to invest in the Covered Gain Strategy?
To get started, simply follow the tutorials for the Dual Investment strategy and create your first order today.
On the App
Step 1: Open the Pionex app, tap [Bot] in the bottom navigation bar, then tap [Create].
Step 2: Under the "Options Bot" section, select [Covered Gain].
Step 3: Choose [Basic Mode] or [Pro Mode]. Select your coin pair, then enter your Selling Price. Optionally tap [Unfold] under Advanced Settings to set a Lowest Tolerance APY and Longest Period. Tap [Search].
Step 4: From the search results, select your preferred product.
Step 5: On the product detail page, review the APY, settlement period, and payout scenarios, then tap [Purchase]. Enter your investment amount and tap [Confirm].
Step 6: On the Order Confirmation screen, review all details and Auto-invest Parameters. Check "I already know the risks and benefits of covered-gain feature", then tap [Confirm] to place your order.
On the Web：
Step 1: Log in to your Pionex account, click [Earn] in the upper menu bar, then select [Structured] - [Earning Robot].
Step 2: Select Covered Gain from the list of structured products by clicking [Create the Bot]. Choose the desired mode; for this tutorial, we will select [Pro Mode]. Then choose the asset you wish to buy, input the percentage value, and configure the advanced settings (optional). Finally, click [Search] to find the applicable dual investment products that match your parameters.
Step 3: The applicable dual investment products that match your parameters will be displayed. Choose your preferred dual investment product, click the [Details] button to view the product details, and then click [BUY].
Step 4: Input the investment amount, enable “Auto-invest” if required (optional), and click [OK]. Then check the box to acknowledge the risks and benefits, and finally click [OK] to place your Covered Gain order.
FAQ
Q: My target sell price for BTC is $65,000, but at settlement the price rises to $70,000. What happens?
A: Your BTC (plus earned interest) will be sold at $65,000 and credited to your account in USDT.
Q: What are the risks of Covered Gain?
A: The main risk is opportunity cost if the market price continues rising after your subscription is exercised.
Missed upside – If your subscription is exercised, your crypto is sold at your target price. If the market continues rising above that, you miss out on the additional gains.
Settlement price gap – If the market price at settlement is significantly above your target, you still sell at your target price and forgo the price difference.
Example: Your target sell price is $65,000. At settlement, BTC is at $70,000. Your BTC plus interest earned is still sold at $65,000 — you miss the $5,000 per BTC of additional upside.
Q: When should I enable Auto-Reinvest in Pro Mode?
A: Enable it when you're holding crypto, want ongoing yield, and expect the market to move sideways or gradually upward. Example:
Current BTC: $20,000
You set a 10% price rise trigger
If BTC stays below $22,000 at settlement → you earn interest in BTC, funds reinvested at 10% above new market price
If BTC is at or above $22,000 at settlement → your BTC + interest is sold at $22,000 and credited in USDT
Note: If no matching product is found within 30 minutes after settlement, the bot closes automatically and your investment plus earnings are returned to your main account.
Q: What's the difference between Basic Mode and Pro Mode?
A:
Strategy: Basic Mode sells at a fixed price; Pro Mode sells at a percentage rise from the current price.
Auto-reinvest: Basic Mode reinvests at the same fixed target sell price. Pro Mode recalculates the strike price each round based on the percentage rise from the last settlement price.
Q: What are the minimum investment amounts?
A:
BTC Covered Gain: minimum 0.00001 BTC
ETH Covered Gain: minimum 0.0001 ETH
Other coins: refer to the investment amount input field in the UI
Q: Can I redeem (stop) my subscription early?
A:
BTC and ETH: Early redemption is supported.
All other coins: Early redemption is not supported — you must wait until settlement.
Important: If you stop your bot before settlement, your investment and any earnings will not be returned immediately. Funds are returned to your main account after settlement. You may also resume the bot before settlement if you change your mind.
Q: How is the settlement price calculated?
A: The settlement price is the average index price over the 30 minutes before 8:00 AM UTC on the settlement date.
Q: How can I view my current subscription?
A:
Web: Visit the Structured Running Orders page.
App: Go to [Bot] → [My bots] and filter for Covered Gain.