Shorting ETH on Bitunix with the stop above the 24h high

Here is a short ETH example built that way.

The market at 9:54 AM ET, from Bitunix public data

ETHUSDT last 2,287.4, mark 2,287.66, index 2,288.68. The 24 hour high was 2,317.32 and the low 2,245.18. Funding sat at 0.005215% on the 8 hour cycle. The smallest order is 0.003 ETH, sized in 0.001 ETH steps.

The screenshot is the live Bitunix ETHUSDT perp page at 9:57 AM ET: 2,283.51, up 0.58% on the day, mark 2,284.44, index 2,284.56, 24h high 2,317.32 and low 2,245.18, funding 0.0052% with 01:02:07 on the countdown, the order book, and the order panel on Cross 10X with Market, Limit and Trigger tabs, the TP / SL tick box, and VIP 0 Maker 0.0200% and Taker 0.0600% shown.

Example only, not a signal: account 1,500 USDT, risk 1% (15 USDT), short at 2,287.4, stop at 2,320.0 just above the 24h high.

Stage A: the stop and the size

The stop sits 32.6 USDT above entry, about 1.43%. Fees at the VIP 0 taker rate in and out add 0.0006 x 2,287.4 + 0.0006 x 2,320.0 = 2.76 USDT per ETH. Loss per ETH at the stop: 35.36. Size: 15 / 35.36 = 0.424 ETH after rounding down to the 0.001 step, about 969.86 USDT of position value. Loss at the stop: 14.995 USDT.

Stage B: the take-profit

Twice the stop distance below entry is 2,222.2. That is under today's low, so it needs the market to extend, not just repeat the morning. Gross gain 0.424 x 65.2 = 27.64 USDT. Fees on the way in and out at taker rate are about 1.14, leaving about 26.50 USDT, or 1.77R. Fees pull a 2R target down to roughly 1.77R even before any slippage.

Stage C: tick TP / SL on the opening order

Set the TP and SL trigger prices in the panel before submitting. Bitunix help pages say a trigger can execute at the best market price or at a limit price you set. A market stop is the safer default for the stop leg because a limit stop can be skipped in a fast move. The take-profit can be a limit if you are fine waiting for the fill.

Stage D: decide on a trailing stop, or not

Bitunix also has trailing orders, where the trigger follows the market as it moves your way. It suits a trend you want to ride past 2R. It is less useful in a range like today's, where a normal pullback can close a good trade early.

What leverage changes

At 10x the margin is about 96.99 USDT. The loss at the stop is still about 15 USDT at 5x, 10x or 20x. What leverage changes is how close liquidation sits. The pair allows up to 200x, but at 200x margin would be just 0.5% of value, far inside a 1.43% stop. Pick leverage that leaves the stop well short of liquidation.

Common mistakes

• Placing the stop exactly on the 24h high. Round levels get tested. A few dollars of buffer is cheap.
• Sizing first and placing the stop where the size "fits". It should be the other way round.
• Leaving the bracket for later. With TP / SL ticked on the opening order, there is no unprotected window after the fill.
• Using ETH numbers on SOL, BTC, DOGE or LINK. Minimum size and steps differ per pair, so redo stage A.

Short FAQ

Do I have to wait for the fill to set TP/SL? No. Bitunix lets you set it in the order panel before the opening order fills.

Does funding matter on a short? At a positive 0.005215%, shorts receive about 0.05 USDT per 8 hours on this size while the rate holds. Small, but it can flip.

What if the take-profit triggers but does not fill? A limit TP can miss in a sharp spike and reversal. If getting out matters more than the exact price, use a market exit.

The habit: write the three numbers down, then build the bracket on the ticket, before the short exists.