Endless rolling urgently requires an increase in the casting speed of continuous casting. For the continuous casting process of a high-casting-speed billet, the heat flux of the mold would be much higher, requiring a stronger cooling performance and longer mold life to match the high-speed casting. Mold material, thickness, and slot structure have a great influence on the casting speed. To design a more efficient billet casting mold, a three-dimensional thermal-stress-coupled analysis model of a 150 mm × 150 mm mold was established in this research to analyze the thermal state of a mold with high casting speed; in addition, the material, thickness, and water slot structure, which pertain to the mold cooling performance, were also studied. The results show that the billet mold of Cu-Ag with a thinner thickness and right-corner water slot is better in terms of casting speed. Regarding the material, the Cu-Ag mold has a higher thermal conductivity efficiency; its hot surface temperature is 4.89 °C lower, its equivalent stress is 7 MPa lower, and its longitudinal deformation is 0.0023% lower compared with the deoxidized phosphorus copper mold. Regarding the thickness, the thinner mold has a 60.76 °C lower hot surface temperature, its equivalent stress is 340 MPa lower, and its longitudinal deformation is 0.0443% lower compared with the thicker mold. For the water slot structure, the mold with the right-angled water slot has a 2.895 °C lower hot surface temperature, its equivalent stress is 37 MPa lower, and its longitudinal deformation is 0.0039% lower compared with the mold with a rounded-corner water slot.
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