Gate Metal Contracts Complete Guide: Margin, Leverage, and Expiration Rules Explained

As global macro uncertainties increase, precious metals and industrial metals—traditional asset classes—are becoming increasingly prominent in crypto ecosystems. Gate integrates a dedicated precious metals section with TradFi contracts, bringing gold, silver, and industrial metals like copper and aluminum into the derivatives trading system.

For users interested in participating in Gate metal trading, understanding the core mechanics of contracts is the first step in risk management. This article, based on the latest data as of February 27, 2026, systematically breaks down Gate metal contract margin rules, leverage mechanisms, expiration types, and overnight fee structures.

Perpetual Contracts vs. Delivery Contracts: Understanding the Fundamental Difference

Before trading metals on the Gate platform, you need to clarify which type of contract you are trading. Gate offers two main structures for metal derivatives: perpetual contracts and delivery contracts, which have completely different position logic.

Perpetual contracts are the core product in Gate’s precious metals section, supporting gold (XAUUSDT) and silver (XAGUSDT). Their main feature is no expiration date, allowing traders to hold positions indefinitely based on market judgment. To keep the contract price anchored to the spot price, Gate introduces a funding rate mechanism, where long and short sides periodically pay each other.

Delivery contracts (commonly found in Gate’s TradFi section as CFDs) have a clear expiration date. At expiry, the system automatically closes the position at the settlement price. These contracts are more suitable for strategies with defined cycles or hedging needs.

Gate Metal Margin Rules: The Foundation of Trading

Margin is the collateral required to open and hold Gate metal contracts. Gate uses an independent contract account system; you need to transfer USDT from your funding account to your contract account before trading.

In Gate’s metal contracts, there are mainly two margin modes:

Isolated Margin Mode

In this mode, margin is strictly separated between fixed positions and fixed margin amounts. You can set an upper limit for your allocated margin. If losses on that position exceed your set margin, it will be forcibly liquidated. This prevents your other funds from being affected.

Cross Margin Mode

This mode uses all available balance in your contract account as margin. It reduces the risk of liquidation for individual positions but also means risks can spread across your different positions.

For users planning to try perpetual precious metals contracts in Gate’s metals section, it is recommended to start with isolated margin mode to better control the risk exposure of individual positions.

Leverage Mechanism: A Double-Edged Sword for Amplifying Capital Efficiency

Leverage is one of the core features of contract trading, allowing you to control larger nominal positions with a smaller amount of margin.

When trading metal contracts on Gate, your leverage choice directly affects your liquidation price and risk exposure.

• Precious metals perpetual contracts: Gold (XAUUSDT) and silver (XAGUSDT) perpetual contracts support up to 50x leverage, enabling flexible trend capturing.
• TradFi metal CFDs: In Gate’s TradFi section, products like gold (XAU/USD) offer higher leverage options, up to 500x, catering to professional traders’ capital efficiency needs.

Important reminder: High leverage can magnify gains but also accelerate losses. Always choose leverage levels according to your risk tolerance.

Expiration Dates and Position Costs: Funding Rates and Overnight Fees

Different types of Gate metal contracts have significantly different position cost structures.

Funding Rate (Perpetual Contracts)

In Gate’s precious metals perpetual contracts, there is no expiration date, but there is a funding rate. This is a periodic fee exchanged between longs and shorts, designed to keep the contract price close to the spot index. Settlement occurs approximately every 8 hours; if you hold a position at settlement, you will pay or receive this fee.

Overnight/Swap Fees (TradFi Contracts)

When trading gold (XAU/USD) or silver (XAG/USD) CFDs in Gate’s TradFi section, holding positions overnight incurs a swap fee. This fee reflects interest rate differentials in traditional finance markets and is settled at a fixed time daily (e.g., midnight Beijing time). If you plan to hold positions for several days, be sure to check the specific “overnight interest” rate in the trading interface and include it in your total costs.

Latest Gate Metal Market Data

As of the latest market data on Gate, dated February 27, 2026, the precious and industrial metals markets show divergence, offering traders a variety of strategic scenarios. Key metals’ intraday data are as follows:

Precious Metals Section

• Gold (XAUUSDT): $5,184.96, down 0.01%, range $5,128.90–$5,200.16, trading volume $22.25 million.
• Silver (XAGUSDT): $88.69, down 1.05%, range $85.16–$89.98, trading volume $98.39 million.
• Tether Gold (XAUTUSDT): $5,163.6, up 0.03%, market cap $2.68 billion, trading volume $20.82 million.
• PAX Gold (PAXGUSDT): $5,196.8, unchanged, market cap $2.45 billion, trading volume $7.2 million.
• Platinum (XPTUSDT): $2,279.28, down 0.59%.
• Palladium (XPDUSDT): $1,784.27, down 1.09%.

Industrial Metals Section

• Copper (XCUUSDT): $5.982, down 0.30%.
• Aluminum (XALUSDT): $3,140.25, down 0.94%.
• Nickel (XNIUSDT): $17,687.52, down 1.75%.
• Lead (XPBUSDT): $1,978.44, up 0.18%.

From the data, silver (XAGUSDT) with nearly $100 million in trading volume indicates high market participation and intense trading activity. Meanwhile, tokenized gold products like Tether Gold (XAUT) provide convenient on-chain exposure to physical gold holdings.

Summary

Gate metal trading bridges the gap between crypto assets and traditional commodities. By understanding different contract margin rules, using leverage wisely, and clarifying expiration and position costs (funding rates/overnight fees), you can participate more professionally in precious and industrial metal derivatives trading. Always verify the latest rates and contract parameters on the official Gate website or app’s contract details page to develop a rigorous trading plan.