Lightning

Please agree to the Written Explanation on Over-the-counter Crypto Asset Derivatives Trading (Document Requiring User Agreement) and submit your Individual Number.

Please agree to the Written Explanation on Over-the-counter Crypto Asset Derivatives Trading (Document Requiring User Agreement).

For web browsers

After logging in to bitFlyer Lightning, select BTC-FX/JPY at the top of the screen.

The agreement screen will appear. After reading and understanding the document, please check the box for “[placeholder].”

*Please ensure that you meet our recommended system requirements.

For the bitFlyer Wallet smartphone app

After logging in, please select Lightning on the right side of the home screen and select ""BTC-FX / JPY.""

*To register in the app, please update to iOS version 4.1.0 or Android 4.10.0 or higher.

Please submit your Individual Number here

Currently there is no possibility to trade ETH against EUR or JPY

bitFlyer Lightning is an exchange for Bitcoin Spot, FX, and Futures trading along with BCH/BTC and ETH/BTC trades. Spot trading allows users to purchase or sell Bitcoin for JPY with their held assets. With FX and Futures, you can trade with up to a 2x*leverage, which can allow users to profit whether the prices go up or down depending on the strategy used.

“Lightning FX” and “Lightning Futures” offer trades of over-the-counter derivatives of crypto assets that reference the prices of crypto assets handled by the Company, in which the Company acts as the counterparty for the over-the-counter derivatives of crypto assets, and the transaction is concluded between the customer and the Company as a negotiated transaction with the Company as a counterparty to the customer. The transaction is a net settlement where the settlement is made by an exchange of money calculated using the difference between the price of the corresponding crypto asset agreed upon by the customer and the Company at the time of the new transaction’s execution and the price of the corresponding crypto asset at the time of the settlement transaction’s execution (a customer may transfer crypto assets to the Company as a margin deposit in lieu of fiat currency for the settlement of transactions).

More information can be found here.

*The max leverage is different for corporate accounts.

Changes to Margin Trading Services on bitFlyer Lightning (March 26 update)

In accordance with A Article 117; Clause 41, Clause 42, Clause 51, and Clause 52 (Trading Specific Over-the-counter Derivatives of Crypto Assets) of the Cabinet Office Order on Financial Instruments Exchange Operators, we have made some changes to our margin trading services on bitFlyer Lightning FX and Lightning Futures.

The changes are summarized below.

For personal and corporate accounts

From Wednesday, April 21, 2021 at 4:00 PM (JST)

1.The max leverage for existing positions will change from 4x to 2x

・If the maintenance margin rate falls below 100%,margin Call Rules apply.

・If the maintenance margin rate falls below 50%,"Sell Out Rules" will apply.If a sell out is triggered, all positions will be settled as market orders. If the market price suddenly fluctuates, losses greater

・More information on margin call and sell out rules can be found here.

2.The value for Bitcoin used as a margin deposit will change from “80% of the last trade price in JPY currently on Lightning Spot (BTC/JPY)” to “50% of the last trade price in JPY currently on Lightning Spot (BTC/JPY)”.

・If the maintenance margin rate falls below 100%,margin Call Rules apply.

・If the maintenance margin rate falls below 50%,"Sell Out Rules" will apply.If a sell out is triggered, all positions will be settled as market orders. If the market price suddenly fluctuates, losses greater.

・More information on margin call and sell out rules can be found here.

For corporate accounts

From Wednesday, May 12

1.The assumed crypto asset risk ratio will be applied to leveraged trades.

Corporate accounts will now be subject to the max leverage, per the assumed crypto asset risk ratio announced weekly by the Japan Virtual and Crypto assets Exchange Association. The leverage will be automatically updated weekly while the customer is selecting the max leverage.

Corporate accounts will now be subject to the max leverage, per the assumed crypto asset risk ratio announced weekly by the Japan Virtual and Crypto assets Exchange Association. The leverage will be automatically updated weekly while the customer is selecting the max leverage.

Please see this page for details on the The assumed crypto asset risk ratio published by the Japan Virtual and Crypto assets Exchange Association.

※The assumed crypto asset risk ratio is calculated by the Commissioner of the Financial Services Agency. The method uses the ratio of the risk from price fluctuations that occur in the crypto asset market to the principal amount.

Important notes

Corporate accounts will be able to opt for the "max" leverage based on the assumed crypto asset risk ratio after May 12, 2021.

The max leverage is adjusted according to the leverage ratio that is based on the assumed crypto asset risk ratio announced on a weekly basis by Japan Virtual and Crypto assets Exchange Association. As long as the "max" leverage option is selected, the leverage will be automatically updated every week. Please click here for an overview of the max leverage allowed in practice for corporate accounts.

*The assumed crypto asset risk ratio is calculated by the Commissioner of the Financial Services Agency. The method uses the ratio of the risk from price fluctuations that occur in the crypto asset market to the principal amount. Please click here for details on the The assumed crypto asset risk ratio published by the Japan Virtual and Crypto assets Exchange Association.

Important notes:

In bitFlyer Lightning, click the menu icon in the upper-left and select settings.

Under Leverage, choose the leverage rate you wish to use.

When using Lightning in the bitFlyer Wallet app, tap Margin Account on the left side of the screen.

From there, tap Leverage and then select the leverage rate you wish to use.

Please read the following guides.

• What is Lightning FX?
• Lightning FX User Guide
• Lightning FX Trading Rules
• Lightning Futures Guide
• Lightning Futures Trading Rules
• About bitFlyer Lightning Special Orders

In Lightning Futures, you can use a margin deposit to buy and sell leveraged Bitcoin then make a settlement, using the unit BFT.

Lightning Futures comes in weekly, biweekly, and quarterly order books.

A position in a Lightning Futures order book can be closed with a counter-trade settlement prior to the maturity date. If the position is not closed by the maturity date, the position will be automatically settled using the SQ (settlement price).

The SQ (settlement price) is determined by the spot price of Bitcoin at the time of the maturity date through the Itayose method.

One of the best parts about Lightning Futures (Bitcoin futures) is the opportunity to leverage your Bitcoin trades up to 2X.

More information can be found at the links below.

• About Lightning Futures
• Lightning Futures User Guide
• Lightning Futures Trading Rules

Lightning FX is a service that allows you to margin trade Bitcoin by making a margin deposit and then making a net settlement.

Applying leverage allows you to make more efficient investments with your funds.

You can multiply the reach of your funds by taking advantage of Lightning FX's 4x leverage capabilities.

More information can be found using the links below.

• About Lightning FX
• Lightning FX User Guide
• Lightning FX Trading Rules
• About bitFlyer Lightning Special Orders

This reflects orders that have been placed but have not been executed.

Amount displays the assets you hold, but Available displays the assets you have that are available for new trades, withdrawal, or movement.

For example, when placing a limit order, the amount to be bought or sold remains as an order until it is complete. Therefore, this amount is deducted from your available balance.

Your order may be matched using a price that is more beneficial to you than the one you put in your limit order.

If you do not want to use a more advantageous price, you could use a stop-type special order.

You will need to place a counter-traded order against your current position to settle it. Buy positions will be settled through a sell-back, and sell positions will be settled through a buy-back. Positions will be settled in order from the oldest date of execution.

If you have a position, placing an order will make a settlement order.

Otherwise, it will be a new order. When making a settlement order, settlements will be performed in order from the oldest positions. If there is any amount in excess of the amount that can be settled, the difference will become a new order.

Please see bitFlyer FX Trading Rules for further details.

Click the menu button in the upper-left corner in bitFlyer Lightning, then select Funds. Under “Lightning FX/Futures account”, enter the amount you wish to deposit and press the “to Margin Account” button. For more information, please reference section 3 (About Margin) here.

Open the menu from the top-left corner of and select Funds.

Your maintenance margin rate will be displayed on the Lightning FX and Futures Collateral table.

More information can be found here.

You can check the "Additional margin" and "Margin Call Due Date" on the Lightning Trade screen.

The methods of resolving the margin call are as follows.

・Deposit Japanese yen or Bitcoin into your margin account

・Partial or complete settlement of your positions

・Increase the leverage rate*

*If the leverage rate is set lower than the maximum value, it can be raised to resolve the margin call. It will not be raised if you have selected the maximum leverage rate. As an example, if margin call rules are applied with leverage 1x and the maintenance margin rate is subsequently 55%, the maintenance margin rate will become 110% when leverage becomes 2x, and the margin call will be resolved. However, be aware that if the market price continues to fluctuate by 5% or more, the maintenance margin rate will again fall below 100%, and margin call rules may be applied at the next timing of determination of margin call.

Please note that even if the maintenance margin rate exceeds 100% by methods other than listed above (market fluctuation, etc.), after the margin call is triggered, the margin call will not be cleared. If the market has changed abruptly, the Sell Out Rules is applied before the Margin Call Rules are applied.

It may take time for the amount of the Margin Call to be reflected on the trade screen even after all or part of the Margin Call clears. If the amount is not reflected, wait for a moment and try again. There may be delays in the Margin Call rules being applied. The Company will not be held liable for any losses incurred as a result of such delays.

For more information on the current Margin Call Rules, Sell Out Rules, and others, please see below.

They are calculated as follows.

Required margin = Required margin for open positions + required margin for new order

Valuation margin = Margin deposit + profit or loss from valuation

Maintenance margin rate = Valuation margin / required margin

More information can be found here.

More information on special orders and their requirements for execution can be found here.

Cross orders are not currently available.

Yes. You can trade with up to 2x leverage on Lightning FX.

*The max leverage is different for corporate accounts. Please click here for more information.

■What is the "max" leverage based on the assumed crypto asset risk ratio that can be selected for corporate accounts?

In order to trigger the automatic placement of secondary orders, the first order must be completely filled.

If the first order is only partially filled, the secondary orders will not be placed.

While limit orders may have partial executions, market orders will only execute in their entirety and can not have partial executions.

Therefore, if the first order is a limit order, the secondary order will fall into one of the following three patterns based on the “Time in Force” chosen when the order was placed.

1. Good ‘Til Cancelled

   These order amount parameters mean that the order will remain valid until it is either filled or cancelled.

   If the first order is only partially filled, the order will remain valid for the remaining amount until it either expires or is cancelled by the user.

   *Unless designated otherwise, orders will expire after 30 days.




2. Immediate or Cancel

   These order parameters mean that the order will be fully or partially filled at the designated price or a more profitable one.

   The amount that can not be filled is immediately cancelled. If the first order is only partially filled, the IFD order will be automatically cancelled and the secondary order will not be placed.




3. Fill or Kill

   These order parameters mean that if the order can not be completely filled immediately upon being placed, the whole order is automatically cancelled. In this case, the first order is immediately filled in full or cancelled in full.

   The first order can not be partially filled.

If you would like to cancel an order on bitFlyer Lightning, press the cancel order button.

The cancel order button is the “x" mark in the order history section.

You can also click your order in the order book to cancel it. If a limit order was placed but not executed, the order will be automatically revoked after 30 days. Orders that have already been executed cannot be cancelled.

Canceled orders are not recorded.< /p>

We accept full settlements using a physical delivery between 1 BTC and 100 BTC.

Physical delivery settlements are limited to one per week per customer.

The fee in Japanese Yen is calculated by the following formula.

Your position's weighted average execution price x position size x 20%.

Physical deliveries can not be canceled.

Please contact us here to request a physical delivery.

No margin deposit is necessary for spot trades.

Your available funds are calculated by factoring in orders that have been placed but not yet executed.

More information on API documentation can be found here.

Please use our Lightning API Playground.

It is possible to make a margin deposit on bitFlyer Lightning using either JPY or Bitcoin.

*It is possible to make a sell position using a JPY margin deposit.

More information can be found here.

The rules for margin trading (Maintenance Margin Rules, Margin Call Rules, and Sell Out Rules) after the change are as follows.

①Maintenance Margin Rules(This is a renaming of an existing rule.)

② Margin Call Rules

1. If the maintenance margin rate is below 100% at 6:00 PM every business day (including weekends and holidays), Margin Call Rule will apply and a margin call will occur.
2. All outstanding new orders will be revoked (cancelled).
3. If the margin call has not been resolved by 4:59 PM (JST) on the next business day (including weekends and holidays) after the margin call is triggered, Sell Out Rules will apply at 5:00 PM (JST). The methods of resolving the margin call are as follows.

・Deposit Japanese yen or Bitcoin into your margin account

・Partial or complete settlement of your positions

・Increase the leverage rate*

*If the leverage rate is set lower than the maximum value, it can be raised to clear the margin call. It will not be raised if you have selected the maximum leverage rate.As an example, if margin call rules are applied with leverage 1x and the maintenance margin is subsequently 55%, the maintenance margin will become 110% when leverage is doubled 2x, and the margin call will be canceled. However, be aware that if the market price continues to fluctuate by 5% or more, the maintenance margin will again be less than 100%, and margin maintenance rules may be applied at the time of the next judgment.

③ Sell Out Rules

For more information on the current Margin Call Rules, Sell Out Rules, and others, please see below.

As part of our methods to prevent unfair and illegal trading, self-trading (an individual customer settling a buy and sell order with themselves) are voided.

Voided trades do not incur fees. They are also not included in the calculation of trade volume.

A market order executes for a specific amount, but not with a specific price.

A limit order prioritizes executing at a specific price.

More information on special orders can be found here.

A stop order will place a market order once triggered by a predetermined price. A stop-limit order will place a limit order once triggered by a predetermined price.

Using a stop-limit order helps to ensure that the limit order will not be executed at an unfavorable price.

However, price movements may cause stop-limit orders not to execute.

More information on special orders can be found here.

Buy positions are settled by sell positions and vice versa. Settling a position requires a counter-sale for the same amount as the held position.

If a counter-sale exceeds the position held, the difference becomes a new order.

More information can be found here.

Please confirm your margin deposit when using Lightning FX or Lightning Futures.

If your maintenance margin rate falls below a set level, it will trigger a margin call or sell out.

More information on margin deposits can be found here.

More information on margin rates, margin call rules, and sell out rules can be found here.

The order books let you see how many orders are available in different price ranges.

The Asks order book displays orders from people who wish to sell Bitcoin. The number in the middle is the price and the number on the left is the volume.

The Bids order book displays orders from people who wish to buy Bitcoin. The number in the middle is the price and the number on the right is the volume.

The Last Price field between the order books displays the most recent executed price as well as the spread. The spread is the difference between the best bid and the best ask displayed as a percentage.

SFD (Swap for Difference) occurs on Lightning FX trades when the price disparity between Lightning Spot (BTC/JPY) and Lightning FX (BTC-FX/JPY) diverges beyond a set level.

The trade prices of Lightning Spot (BTC/JPY) and Lightning FX (BTC-FX/JPY) are not connected, so each one has its own supply and demand.

The difference between the two leads to a divergence in price.

SFD occurs on executions that increase the price disparity between Lightning Spot (BTC/JPY) and Lightning FX (BTC-FX/JPY).

SFD does not occur on executions that decrease the price disparity between Lightning Spot (BTC/JPY) and Lightning FX (BTC-FX/JPY).

More information can be found here.

SFD (in JPY) = Trade volume x trade price on Lightning FX x SFD Rate

We will be implementing some changes to margin trading services on bitFlyer Lightning.The changes are as follows.

■Scheduled date of the change

Tuesday, August 31, 2021 at 5:00 PM (JST)

■Services to be changing

Lightning FX, Lightning Futures

* This does not apply to Lightning Spot.

■ Planned changes

1. Change in conditions for applying Margin Call Rules

Before the change

If the maintenance margin rate falls below 100%, Margin Call Rules will apply.

After the change

If the maintenance margin rate falls below 100% at 6:00 PM (JST) every business day (including weekends and holidays), Margin Call Rules will apply.

2. Changes to the conditions for applying Sell Out Rules and the conditions for eliminating additional margins

Before the change

If the maintenance margin rate is still below 100% at 5:00 PM (JST) 2 bank business days after it fell below the prescribed level, Sell Out Rules will apply.

After the change

If the margin call has not been cleared by 5:00 PM (JST) on the next business day (including weekends and holidays) after the margin call is triggered, Sell Out Rules will apply. The methods of clearing the margin call are as follows.

　　(1) Depositing Japanese yen or bitcoin into your margin account

　　(2) Partial or total settlement of your positions

　　(3) Increasing the leverage rate*

*If the leverage rate is set lower than the maximum value, it can be raised to clear the margin call. It will not be raised if you have selected the maximum leverage rate.As an example, if margin call rules are applied with leverage 1x and the maintenance margin is subsequently 55%, the maintenance margin will become 110% when leverage is doubled 2x, and the margin call will be canceled. However, be aware that if the market price continues to fluctuate by 5% or more, the maintenance margin will again be less than 100%, and margin maintenance rules may be applied at the time of the next judgment.

Please note that even if the customer's maintenance margin rate exceeds 100% by methods other than listed above (market fluctuation, etc.), after the margin call is triggered, the margin call will not be cleared.

The rules for margin trading (Maintenance Margin Rules, Margin Call Rules, and Sell Out Rules) after the change are as follows.

①Maintenance Margin Rules(This is a renaming of an existing rule.)

② Margin Call Rules

1. If the maintenance margin rate is below 100% at 6:00 PM every business day (including weekends and holidays), Margin Call Rule will apply and a margin call will occur.
2. All outstanding new orders will be revoked (cancelled).
3. If the margin call has not been resolved by 4:59 PM (JST) on the next business day (including weekends and holidays) after the margin call is triggered, Sell Out Rules will apply at 5:00 PM (JST). The methods of resolving the margin call are as follows.

・Deposit Japanese yen or Bitcoin into your margin account

・Partial or complete settlement of your positions

・Increase the leverage rate*

*If the leverage rate is set lower than the maximum value, it can be raised to clear the margin call. It will not be raised if you have selected the maximum leverage rate.As an example, if margin call rules are applied with leverage 1x and the maintenance margin is subsequently 55%, the maintenance margin will become 110% when leverage is doubled 2x, and the margin call will be canceled. However, be aware that if the market price continues to fluctuate by 5% or more, the maintenance margin will again be less than 100%, and margin maintenance rules may be applied at the time of the next judgment.

③ Sell Out Rules

For more information on the current Margin Call Rules, Sell Out Rules, and others, please see below.