What is Multi Mode?
Multi-Position Mode is a position management mode in Pionex Futures trading. Unlike Cross or Isolated mode, each order in Multi-Position Mode is treated as a completely independent position with its own entry price, margin, unrealized PnL, liquidation conditions, leverage, and separate take-profit and stop-loss settings. Orders will not be automatically merged with each other.
Key Features of Multi Mode
1. Uses Primary Account Funds as Margin
The margin for Multi-Position Mode is deducted directly from your Primary Account and managed separately from your Futures Account funds. After a position is closed, the funds will automatically return to your Primary Account without requiring any manual transfer.
2. Each Order Is an Independent Position
In Multi Mode, every order exists as an independent position. You can even open both long and short positions on the same trading pair simultaneously. For example, you may create three BTC long orders at different entry prices. These orders will not be merged into a single average-price position. Even if one order reaches take-profit and closes, it will not affect the other running orders.
3. Independent TP/SL for Each Order
Each order can have its own independent Take Profit (TP) and Stop Loss (SL) settings. Unlike Cross or Isolated modes, where TP/SL can only be set for the overall position, Multi Mode allows you to configure different TP/SL levels for each individual order.
4. Set Different Leverage for Each Position
In Multi-Mode, each position can have its own independent leverage setting. For example, you can simultaneously hold BTC/USDT positions with 5x, 10x, and 20x leverage.
Unlike Cross Margin or Isolated Margin modes, Multi-Mode does not automatically merge positions in the same direction. As a result, each position maintains its own leverage setting, providing greater flexibility for implementing trading strategies with different risk profiles.
How to Start Using Multi Mode
Before opening a position, please ensure that your Primary Account has sufficient USDT balance, as Multi-Position Mode uses Primary Account funds instead of Futures Account funds.
APP
Open the Pionex App and enter the “Futures Trading” page
Select “Multi” under Trading Mode
Choose a trading pair (e.g. BTC/USDT)
Set leverage, entry price, quantity, and TP/SL settings
Tap “Open Position” to create your first independent Multi-Position order
WEB
Visit the Pionex website and enter the “Futures Trading” page
Select “Multi” under Trading Mode
Choose a trading pair (e.g. BTC/USDT)
Set leverage, entry price, quantity, and TP/SL settings
Click “Open Position” to create your first independent Multi-Position order
How to View Futures Lite (Multi Mode) Orders
App
Open the Pionex App, go to the Trade page, tap USDT-M Futures, then select Hedge Mode Orders to view your orders.
Web
Open the Pionex Web platform, go to Futures → USDT-M, then find Multi at the bottom of the page.
FAQ
Q1: Can I switch freely between Multi and Cross/Isolated modes? Will switching affect existing positions?
Yes. You can switch trading modes to Cross/Isolated at any time. Switching modes will not affect existing positions. The new setting will only apply to newly opened orders after the switch.
Q2: If one Multi-Position order gets liquidated, will it affect other running positions?
No. Each position operates independently with separate margin and liquidation conditions. Even if one position is liquidated, other running positions will not be affected.
Q3: How can I withdraw the USDT used in Multi-Position Mode?
After closing the position, the funds will automatically return to your Primary Account, and you can directly proceed with withdrawals.
Unlike Cross or Isolated mode, there is no need to manually transfer funds back from the Futures Account.
Q4: Why were my multiple orders under the same trading pair merged together?
You are likely using Cross or Isolated mode. Under these modes, orders in the same direction for the same trading pair will automatically merge into an average position.
If you want each order to remain independent, please switch the trading mode to “Multi” before opening positions.
Q5: Why do I have assets in my Futures Account but still see insufficient funds when opening positions?
Multi-Position Mode uses funds from the Primary Account instead of the Futures Account.
Please ensure your Primary Account has sufficient USDT balance. If your funds are currently in the Futures Account, you will need to transfer them to your Primary Account first.
Q6: Can I open multiple long and short positions simultaneously under the same trading pair in Multi-Position Mode?
Yes. Long and short positions are treated as independent positions and will not affect each other, allowing you to trade flexibly based on market conditions.
Q7: If I switch trading pairs, will my previously set position mode carry over?
Yes. When you switch trading pairs (e.g., from BTC/USDT to ETH/USDT), the system automatically retains your currently selected trading mode (Multi), so there's no need to set it again.
Q8: What is BBO (Best Bid and Offer) order mode?
BBO (Best Bid and Offer) automatically sets your order price based on the real-time order book, eliminating the need for manual price entry.
Opposite 1: Aligns with the best counterparty price for faster execution.
Queue 1: Aligns with the best same-side price for better entry costs.
Q9: What is the "Auto Chase" feature in BBO orders?
"Auto Chase" is a smart order-matching mechanism enabled by default in BBO mode.
How it works: Once enabled, the system updates your order price every second. Any unfilled portion will be re-placed at the latest BBO price until fully executed.
Key Benefits: It provides the price protection of a limit order while preventing orders from getting "stuck" unfilled during high market volatility as prices move away.
Q10: What position-increasing and closing methods are supported for Multi-mode orders?
Multi-mode orders feature independent position management. Every method below acts on one independent position only and never on your other orders.
To add to a position:
Add Investment (Triggered): Pre-set a trigger price for an active independent position to automatically add to it once conditions are met.
To close a position:
Market Close: Close that position immediately at the current market price.
Limit Close: Manually specify a fixed price to submit a closing order.
Limit BBO Close: Submit a closing order using BBO modes (e.g., Opposite 1 or Queue 1). Combined with the "Auto Chase" feature, it allows you to lock in profits or stop losses quickly and accurately. This method is available in Multi mode only — Cross and Isolated positions cannot be closed with BBO.
TP/SL Trigger: The take-profit or stop-loss you set on that order fires automatically and closes only that position.
Market Close, Limit Close and TP/SL Trigger also exist in Cross and Isolated mode, where they act on the merged position instead. Read more: Manual Futures Trading on Pionex