This document applies to the current testnet version of Perpetual Protocol. Our current state of rapid development means details may be inaccurate or out of date.
Open a position
In the upper left corner of the screen, choose the trading pair.
Next, choose BUY if you want to take a long position, or SELL if you want to take a short position.
Perpetual contract primer
1. Open a long (buy) position if you bet the price of the asset (ex. BTC or ETH) is going up; open a short (sell) position if you bet the price of the asset is going down.
2. If you are short, and the mark price is > the index price, you will receive a funding fee every hour. If the mark price is < the index price, you will pay the funding fee. The opposite is true if you are long. Note that the mark and index prices are calculated as TWAP.
Enter the amount of the asset you'd like to trade and choose the leverage you'd like to use, from 1x to 10x.
Review the transaction and click Buy or Sell.
You can open a position with up to 10x leverage, and then leverage up (20x max) by removing margin from your open position using Margin Mgt.
Close a position
Click the Close button next to the position you'd like to exit.
Update a position
To change the size of an open position, simply create a new buy or sell order — the new order will be added to the existing one, increasing/decreasing it by the amount of the new order.
If you do not have sufficient balance to make the desired change, first remove margin from your open position using Margin Mgt. to free up funds, and then proceed as above.