Trade Crypto Futures

Go long or short on Bitcoin and Ethereum with up to 150x leverage.
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About Mushino

The most trusted crypto futures platform.

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Regulated

Mushino is a fully registered Money Services Business (MSB) with the Financial Crimes Enforcement Network Department (FINRA).

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Compliant

Built by an experienced team of ex-Credit Suisse engineers, Mushino is fully compliant with the latest AML and CTF regulations.

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Secure

Mushino has achieved an A+ score in the Mozilla Observatory Security Audit. 100% of client funds are kept in multisignature cold storage.

Getting Started Is Easy

Start trading in less than 5 minutes.

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1. Register your email

Your email is your unique user ID that you use to access your Mushino account.

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2. Fund your account

A Mushino account can be funded with BTC and ETH. Deposits take less than 10 min.

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3. Open a position

Click the green button to go long. Click the red button to go short.

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4. Customize

Customize the user interface and market signal feeds to your liking.

Features

The Mushino Platform

Our award-winning trading platform gives you instant access to leveraged crypto derivatives trading.

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Strategy Builder

Use your knowledge to build automated trading strategies.

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Market Signals

Create your own custom feed of market signals.

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Market Events

Discover new crossovers and divergences. Plot them with 1 click.

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Technical Indicators

100,000+ combinations of indicators and timeframes supported.

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Multi-chart Layout

Seamlessly split your primary chart into two separate charts.

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Fully Customizable

Drag-and-drop widget-based trading interface.

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Second-based Intervals

Chart intervals that go as low as 5 seconds.

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Market Alerts

Create sophisticated market alerts, based on up to 20 complex conditions.

Statistics

24-hour Statistics

Platform statistics for the previous 24 hours.

Mushino App

Trade crypto futures while on the go.

With Mushino's Android App, you can manage your Bitcoin TA strategies wherever you want. Mushino's IOS App enables you to do Bitcoin technical analysis while you're on the go.
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Why Trade Crypto Futures?

Futures
Spot
Options
Margin
Commissions 0.05%-0.1% 0.1-0.5% 0.05%-0.1% 0.1-0.5%
Spread 0.001-0.01% 0.001-0.1% 0.1-10% 0.001-0.1%
Leverage Up to 150x 1x Up to 50x Up to 10x
Complexity Relatively simple Simple Complex Relatively simple
Short Selling Supported Not supported Supported Supported
Interest Charged None None None 0.05%-0.2% per day
Example Platforms Mushino, Bitmex Coinbase, Kraken Deribit Binance, Kraken
FAQ

Frequently Asked Questions

Which cryptocurrencies are supported?

Mushino offers futures contracts for Bitcoin and Ethereum. If you'd like to trade Bitcoin, you'll need to deposit Bitcoin. If you'd like to trade Ethereum instead, you'll need to deposit Ethereum. We plan to add additional futures contracts and deposit options in the future.

Which fiat currencies are supported?

Mushino is currently a crypto-only trading platform. Fiat currencies are not supported. This may change in the future.

What are the funding methods?

A Mushino account can be funded with Bitcoin (BTC) or Ethereum (ETH).

What is required to fund my account?

When you sign up on Mushino, you will receive your own personal Bitcoin deposit address. To fund your account, you may send Bitcoin to this address.

Is my deposit address reusable?

Your personal deposit address is fully reusable. You can use it as many times as you want. Every time you send Bitcoin to your personal deposit address, your deposit is automatically credited to your account.

How long do deposits take?

Bitcoin deposits are credited to your account balance immediately after having received a single confirmation on the blockchain. On average, this takes about 10 minutes. Ethereum deposits require 12 blockchain confirmations. Because the average block confirmation time on the Ethereum network is much faster than on the Bitcoin network (15 seconds vs. 10 minutes), Ethereum deposits tend to be significantly faster. Ethereum deposits are generally reflected on your account balance within 3 minutes of you having initialized the deposit.

Are there any deposit fees?

Mushino does not charge any fees on deposits.

What is the minimum deposit?

There is no minimum deposit. The minimum order quantity is 1 USD, which means that you'll be able to trade with as little as 0.0067 USD (assuming a position leverage of 150x).

Are there any deposit limits?

Mushino does not currently impose any limits on the amount that you can deposit.

What happens to my funds once I make a deposit?

Your deposited funds are kept at your own personal deposit address until you request a withdrawal. Your own personal deposit address is a cold wallet address - the private keys that access the address are kept in permanent cold storage, and are never exposed to the internet.

How does Mushino ensure that no single employee can access my funds while they are in cold storage?

Mushino employs a multisignature digital signature scheme to ensure that no single, rogue Mushino employee can ever access your deposited funds. When you request a withdrawal, three senior-level Mushino executives must meet up physically, agree on the transaction, sign it with their corresponding private key, and publish the transaction to the blockchain. The senior-level executives that hold a private key also hold a significant amount of equity in Mushino, and are thus intrinsically motivated to never collude.

What is required to make a withdrawal?

To withdraw your funds, your funds must not be in use for open orders or open positions. You can easily free up the entirety of your funds by cancelling your open orders and closing your open positions. For security reasons, you are also required to verify your withdrawal with Two-Factor Authentication.

How long do withdrawals take?

We process withdrawals once every day, at 08:00 PST. If you submit your withdrawal before 07:45 PST, the withdrawal will be processed on the same day. If you submit it after 07:45 PST, the withdrawal will be processed at 8:00 PST, on the next day.

Why do you not offer instant withdrawals?

To process withdrawals instantly, the withdrawal process must be entirely automated. At Mushino, we have decided against this, as it would require us to keep private keys on our servers - thus making us vulnerable to hacks. Instead, we have chosen to keep all of the keys offline. The unfortunate result of this decision is that all withdrawals must be processed manually. Since security is our number one priority, we are happy to make this tradeoff.

What is the minimum withdrawal?

0.001 BTC and 0.02 ETH.

Are there any withdrawal limits?

Mushino does not currently impose any limits on the amount that you can withdraw.

How much capital do I need to make an income from trading on Mushino?

Your capital requirements are highly dependent on your own personal needs, risk aversity and trading experience. We recommend that you start out with a small amount of capital, and focus on percentage gains at first. Once you have nailed down your strategy, you can always add more capital.

How much leverage should I use?

Leveraged trading can be highly risky in markets that are as volatile as crypto. We always recommend that you start out with a very conservative amount of leverage. Once you know the approximate daily return, daily drawdown and maximum exposure of your trading strategy, you can slowly increase your leverage. The Kelly Criterion can sometimes prove useful in determining the optimal amount of leverage to use.

Which contract should I trade?

This will depend on your specific trading strategy. In general, Ethereum is slightly more volatile than Bitcoin (expressed in a higher ATR relative to absolute price), making the Ethereum futures contract more suitable for strategies that thrive on volatility, such as trend following and scalping. We recommend that you test your strategy on multiple contracts, before making a final decision. In some cases, it could also prove useful to focus on multiple contracts at once - the diversification achieved from this can often result in a very smooth equity curve.

What are the best traders on Mushino doing?

The most profitable traders on Mushino are predominantly daytraders and swing traders with many years of experience. They have their own proprietary trading strategies - which they do not like sharing. From what we know, from those of them that we have spoken with, their strategies do not share a common characteristic - some are based on mean reversion, others on trend following - some scalp very short timeframes, others swing trade daily charts.

How is my profit calculated?

For long positions, the profit/loss (P/L) is calculated as follows:

P/L (Long) = ((1/Entry Price) - (1/Exit Price)) * Position Size

For short positions, the profit/loss (P/L) is calculated as follows:

P/L (Short) = ((1/Exit Price) - (1/Entry Price)) * Position Size

How is my Entry Price calculated?

The Entry Price of your position is calculated by taking the volume weighted average fill price (VWAP fill price) of the orders that increased the size of your position. The formula is as follows:

Entry Price = Position Size / ((Qty_1/Price_1)+(Qty_2/Price_2)...+(Qty_n/Price_n))

where Qty_n is the quantity of your n'th order and Price_n is the price of your n'th order.

If you are long, only buy orders contribute to your Average Entry Price. Sell orders can be ignored in this case.

If you are short, only sell orders contribute to your Average Entry Price. Buy orders can be ignored in this case.

Example:

You place an order to go long 20,000 contracts at a price of 10,000. Your order gets filled, and a new long position is opened.

The Average Entry Price of this position is now:

(Position Size / (Qty_1/Price_1)) = (20,000/(20,000/10,000)) = 10,000.

You then place another order to go long 40,000 contracts at a price of 12,000. The Average Entry Price is now:

(Position Size / (Qty_1/Price_1)+(Qty_2/Price_2)) = (60,000/(20,000/10,000)+(40,000/12,000)) = 11250.

Do the futures contracts on Mushino expire?

The futures contracts available on Mushino are all perpetual. They never expire, and there is no settlement. You can keep your position for as long as you want. A mechanism called Funding keeps the price of the contract aligned to the spot price of the underlying asset.

What is funding?

Funding is an hourly exchange of money between longs and shorts. The purpose of this exchange is to keep the price of the contract aligned with the spot price of the underlying. The amount exchanged is determined by the Funding Rate. If the Funding Rate is positive, the contract is trading at a premium to spot, and longs pay shorts. If the Funding Rate is negative, the contract is trading at a discount to spot, and shorts pay longs.

What is the Funding Rate?

The Funding Rate determines the amount to be exchanged between longs and shorts during each funding period. If the Funding Rate is 0.1% at the end of a funding period, longs pay 0.1% of their position size to shorts. If the Funding Rate is -0.1%, shorts pay 0.1% of their position size to longs.

How does funding affect my trading?

Funding slightly changes the payoff matrix of market participants in the futures market. If the Funding Rate is significantly positive for a sustained amount of time (as seen during the peak of bull runs), shorts may end up being profitable in spite of the price of Bitcoin going up. The trading P&L on long positions would need to appreciate by an amount equal to the total amount of funding paid in order for longs to break even in this scenario. A funding rate that is far away from zero opens up unique arbitrage opportunities, such as Spot Futures Arbitrage and Cross Exchange Funding Arbitrage.

What is the Mark Price?

The Mark Price is a manipulation-resistant price that Mushino uses in order to minimize the impact of market manipulation and prevent unnecessary liquidations.

Where do you get your pricing data from?

The pricing data used for the calculation of the Mushino Index Price, and the Mushino Mark Price, is derived from seven of the world's top spot exchanges. The data is fully transparent, and can be seen in real-time here.

The formulas used for the calculation of the Mushino Mark Price and Mushino Index Price can be found in our References.

Where can I find the technical specifications for your futures contracts?

Click here to see the full specification for the BTC/USD contract.

Click here to see the full specification for the ETH/USD contract.

What personal information is required?

You are only required to provide an email address. Your email address is AES-256 encrypted on Mushino's servers and will never be shared with third parties. You may also provide a throwaway email address - in this case, however, you will not be able to access your account again, once your browser session expires.

Can I use a VPN while trading on Mushino?

Absolutely. There are no restrictions on VPN usage.

Can my Mushino account get banned?

Your Mushino account can get temporarily restricted if you repeatedly connect to Mushino from a restricted jurisdiction. If your account is restricted, we may ask for proof that you are not a permanent resident of this jurisdiction.

What happens to restricted accounts?

Restricted accounts are put in reduce-only mode, which means that they cannot submit orders that would either open a new position, or increase the size of their current position. Accounts in reduce-only mode are always able to close their active positions, and can also withdraw their funds at any time.

What measures can I use to secure my account?

Mushino accounts can be secured with Two Factor Authentication (2FA), withdrawal limits, IP pinning and device whitelisting. For the best security, we recommend that you enable TOTP-based Two Factor Authentication, add a withdrawal limit and only whitelist your own trusted devices.

Are there any fees charged on liquidations?

Mushino does not charge any fees on liquidations. If your position is liquidated, it will be closed out incrementally, until your Maintenance Margin satisfies the Minimum Maintenance Margin requirements for the contract you are trading. In the vast majority of liquidations, only 10% of your position size will need to be closed out. Once this is done, your position exits liquidation. Note: Incremental liquidation is not available for positions that are below 5,000 USD in size. Positions that are below 5,000 USD in size are liquidated in full, at their bankrupcty price.

Can I use Mushino to automate my trading?

Yes. For the technically inclined, we offer a fully-fledged REST and websocket API. Through these API's, you can do almost everything that you could otherwise do through the Mushino website. For the non-technically inclined, we offer a way to create automated trading strategies directly from the trading interface. Check out how to do so here.

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