In the current climate of global monetary easing and a surging Bitcoin bull market, investor enthusiasm for trading has reached new heights. This environment has driven the volume of futures trading to record levels, making it a highly sought-after avenue for crypto enthusiasts.
However, data from various exchanges reveals that this surge in trading volume isn’t evenly distributed. Instead, it is increasingly concentrated among top-tier platforms. According to TokenInsight, the ratio of spot trading volume to derivatives trading volume across the entire market in 2020 was 1.71:1. Among the top three exchanges by volume, Huobi’s ratio was just 0.24. This indicates that Huobi’s derivatives business not only exceeds the industry average but also outpaces other major platforms like OKEx and Binance.
Crypto market analyst Henry suggests that the 2021 bull market will be the most active year yet for futures trading. “With more investors flocking to high-performing futures platforms, the 'Matthew Effect' is intensifying. 'Winner-takes-all' could become the new norm,” he notes.
Multiple signs point to an ongoing transformation in the futures market. Targeted and precise strategies are key to success. Among the contenders, Huobi Futures has not only accelerated rapidly but also set new benchmarks in product innovation, risk management, and investor protection—establishing itself as a trailblazer.
Huobi Futures’ Rapid Ascent
Over the past two years, the futures segment has become a central focus of the crypto market, with major exchanges entering the arena in fierce competition. Huobi, a long-established exchange, has made remarkable strides, capturing significant attention with its impressive performance.
Huobi launched its coin-margined futures contracts on December 10, 2018, officially entering the derivatives market. Since then, the competitive landscape has shifted. Beyond the two dominant players, BitMEX and OKEx, new forces began redefining market share.
By August 13, 2019, Huobi’s delivery contracts ranked first globally in both trading volume and liquidity—achieving this milestone in just eight months.
On March 27, 2020, Huobi introduced inverse perpetual contracts. By May 11, official data showed that Huobi’s 24-hour trading volume for these contracts reached $4.03 billion, surpassing BitMEX’s $3.58 billion. Huobi claimed the top spot in just 45 days.
On October 26, 2020, Huobi launched USDT-margined perpetual contracts, which quickly gained popularity. TokenInsight reported that within two months, daily trading volume for these contracts exceeded $10 billion, overtaking OKEx as the new leader.
Market analysts believe that Huobi Futures, though a latecomer, successfully captured trader demand through a phased and strategic product rollout.
In 2020, Huobi’s total crypto asset trading volume reached $2,842.713 billion. This included $601.84 billion in spot trading, $2,240.75 billion in futures, and $123 million in options.
Today, Huobi Futures offers a comprehensive suite of derivatives products, including USDT-margined perpetual contracts, coin-margined perpetual contracts, delivery contracts, and options. It supports hundreds of major and DeFi tokens, positioning itself as the largest one-stop derivatives service platform globally.
TokenInsight highlighted that among the top three exchanges by volume—Binance, Huobi, and OKEx—spot trading volume was significantly lower than derivatives volume. Huobi’s ratio of spot to derivatives trading was 0.24, compared to 0.37 for OKEx and 0.50 for Binance, underscoring Huobi’s dominance in derivatives.
The futures market landscape has been reshaped: Huobi Futures is now the leader, Binance has expanded overall volume, while BitMEX has fallen behind and OKEx faces increased pressure.
Given the ongoing clash between old and new players, Henry suggests that Huobi’s strong momentum and steady progress position it for further success in 2025.
Enhanced Product Performance
Many crypto traders recognize Huobi Futures for its competitive fees and strong reputation. However, Huobi Futures COO Tom emphasizes that user benefits extend beyond low costs. “Through meticulous refinement and stable operation, we offer users far more value,” he states.
Huobi Futures excels in trading depth. Alice, a seasoned trader and Huobi VIP user, notes that for large-volume traders using Bitcoin quarterly and next-quarter contracts, Huobi’s order book depth within 0.1% and 0.3% price differentials outperforms other major platforms. Retail traders also benefit from better liquidity in USDT-margined perpetual contracts, which helps reduce holding costs.
Observant users have also noted Huobi’s superior order book data. Henry explains that narrower spreads allow users to open and close positions with minimal slippage, reducing unnecessary losses.
Investor Zhang Xiaobo shared his experience: on a mid-tier futures platform, the gap between the best bid and ask was often wide, sometimes reaching hundreds of dollars during volatile markets, and even spiking to thousands of dollars on occasion.
“High user volume and trading data are positively correlated,” Tom adds.
TokenInsight’s December 2020 report on USDT-margined perpetual contracts highlighted Huobi’s rapid growth. Within two months, cumulative trading volume reached $143.646 billion, with market share rising from 11.12% to 13.82% between mid-November and late December. This growth trend solidified Huobi’s position as a rising star in the USDT perpetual contracts market.
By March 25, 2025, Huobi’s USDT-margined perpetual contracts had reached a cumulative trading volume of $1.31 trillion over five months. The platform supports 80 assets, including major tokens like BTC and ETH, as well as popular DeFi and NFT tokens like UNI and MANA. Forty of these tokens support real-time settlement in both cross-margin and isolated-margin modes. Users can trade on Web, API, or mobile apps with leverage up to 125x.
CoinGecko data from March 25 shows Huobi Futures consistently ranking in the top tier for 24-hour open interest and trading volume.
“The crypto derivatives market is dominated by a few major exchanges like Huobi, which excel in liquidity and trading depth,” Henry observes. Through technological innovation and platform strength, Huobi has attracted a stable and growing user base.
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Unmatched Risk Management and Security
“In the crypto market, Huobi is often seen as a steady and reliable player,” Henry notes. While not the first to enter the futures arena, Huobi has demonstrated strong technical capabilities and risk management.
Security and risk control are areas where Huobi Futures truly stands out.
Du Jun, co-founder of Huobi, has stated that the platform has never experienced a major security incident since its inception. “User asset security is our top priority; it outweighs everything else,” he emphasizes.
This unwavering focus on risk management is why Huobi Futures maintains a “zero clawback” record across all products. Tom explains that clawbacks represent a hidden cost for users. Huobi’s risk reserve fund, zero-clawback保证金, and security fund provide additional protection against extreme market conditions.
Huobi also implements innovative risk mechanisms, such as low maintenance margin rates, stepped liquidations without fees, and a risk reserve fund—features rarely seen in the industry. In 2025, Huobi further improved its contract mechanisms with optimized locked margin, daily settlements for delivery contracts, and a hybrid cross/isolated margin system for USDT-margined perpetual contracts, enhancing capital efficiency. The platform also introduced two-way take-profit and stop-loss functions, allowing users to set these parameters at order placement or during holding.
On February 1, Huobi Futures completed a risk control system upgrade, introducing mark prices for USDT and coin-margined perpetual contracts to prevent unnecessary liquidations during abnormal price fluctuations.
The mark price system requires that both the last traded price and the mark price indicate a margin ratio ≤0% before a position is liquidated. This smoothens price volatility and reduces the risk of forced liquidations due to irregular trades.
Industry analysts believe this upgrade further reduces liquidation risks, improves user experience, and consolidates Huobi’s leading position.
Previously focused on East and Southeast Asia, Huobi has expanded into developed markets in Europe and North America. On March 23, the platform officially entered the Turkish market, marking another step in its global expansion.
“Our users come from around the world, and we have established localized teams in multiple countries,” Tom reveals. During this active trading period, Huobi Futures will continue to explore emerging markets and enhance its service capabilities.
Huobi also offers operational incentives, such as its “VIP Migration” policy, which simplifies transitions for VIP users from other platforms, and “Deposit-to-VIP” campaigns that grant VIP privileges for deposits equivalent to as little as $100,000. Recently, the platform introduced a permanent rebate program offering up to 60% commission rebates, with even higher incentives for maker orders.
As traditional financial institutions embrace Bitcoin, the digital asset market is entering a new era. Huobi’s ability to continually introduce well-received contract products stems from its deep understanding of user needs. Against the backdrop of global monetary expansion, trading enthusiasm remains high, and Huobi Futures—ranked first globally by volume in 2025—continues its journey of innovation.
Frequently Asked Questions
What makes Huobi Futures suitable for high-volatility markets?
Huobi Futures offers deep liquidity, narrow spreads, and advanced risk management tools, which help traders execute orders efficiently and minimize slippage during volatile conditions.
How does Huobi protect users from unnecessary liquidations?
The platform uses a mark price system alongside the last traded price to determine liquidations. This dual-price mechanism reduces the risk of forced closures due to anomalous price movements.
What types of contracts are available on Huobi Futures?
Users can access USDT-margined perpetual contracts, coin-margined perpetual contracts, delivery contracts, and options contracts covering major cryptocurrencies and DeFi tokens.
Does Huobi offer incentives for high-volume traders?
Yes, the platform provides VIP perks, rebates up to 60%, and maker-friendly incentives. Users can also qualify for VIP status through asset deposits or by migrating from other platforms.
Is Huobi Futures accessible internationally?
Absolutely. While initially popular in Asia, Huobi has expanded into markets like Turkey, Europe, and North America, supported by localized teams and services.
What risk management features are unique to Huobi?
Key features include a zero clawback policy, low maintenance margin rates, a risk reserve fund, and real-time settlement for selected tokens in both margin modes.