Trade Perps

Perps (short for perpetual contracts) let you trade on crypto price movements without owning the tokens. They don’t expire, so you can hold positions as long as you maintain their margin requirements.

Considerations

• Perps trading is available only in some regions. Restricted regions, including the US, are blocked from making trades.

• Trading with leverage amplifies gains and losses, and exposes your perps account balance to the risk of liquidation.

Liquidation

If a drop in price in your leveraged positions puts you in danger of losses that exceed your perps account balance, Defi App protects you by selling your assets automatically to cover losses.

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Key Features

• Leverage: Multiply your exposure for higher potential gains and losses.

• Funding Rates: Automatic payments between longs and shorts keep perps close to token prices.

• No Expiry: Hold positions indefinitely without rolling them over.

• Streamlined UX: An advanced perps dashboard along with Defi App's core features, like gasless transactions and wallet abstraction, keep you focused on trading.

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Trade Fee

Defi App charges 0.01% of the notional value of each perp trade.

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How It Works

How perps trading works on Defi App, from start to finish:

Fund Your Perps Account

Your perps account balance is kept in another wallet. This protects assets that you don't specifically allocate to perps trading from being liquidated. You can easily transfer funds to your perps account from your other Defi App wallets.

Make a Trade

Using funds in your perps account, you can take a or position on any supported token.

You can leverage your position for greater exposure. This amplifies gains and losses.

Manage Your Positions

Track your open trades in real time from the Perps dashboard. Adjust leverage or close your position at any time.

The price of a perp follows the token’s spot price. If it drifts too far, a small funding payment helps bring it back. When the perp price is higher than spot, longs pay shorts. When it’s lower, shorts pay longs.

Your positions each display a Liquidation Price (a value at which your positions are closed to cover losses). Avoid liquidation with trading tools like and prices.

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Position Configuration Options

Setting	Configuration options	Description
Order Mode	Market, Limit, or TWAP	Market orders are executed immediately at the best available price. Limit orders allow you to set a specific price at which your trade is triggered. orders allow you to break a larger order down into smaller trades over time. Market by default.
Asset	Select a token pair.	Select a token. Tokens are always paired with and display their current price in .
Amount	Token or USD. Enter an amount.	The amount of the selected asset to trade. Toggle between Token and USD by clicking the icon below the amount you enter. You can also use the slider below the selected asset to adjust the amount based on your total holdings of that asset.
Leverage	1-40x, depending on asset.	Leverage increases your exposure to the price movements of an asset.
Toggle	On or Off	Set prices at which to close this position: Take Profit is the increased price at which you want to automatically close for a profit. Stop Loss is the decreased price at which you want to automatically close to cut your losses. Off by default.
Reduce-only	Checked or Unchecked	When checked, the trade not create a new position, regardless of its size. It will only offset or reduce your existing position. Unchecked by default.
Liquidation price	-	Calculated based on your trade configuration. The price at which your position is automatically closed because margin is no longer sufficient to cover losses.
Available to trade	-	The amount, in USD, that your perps account has available.
Margin required	-	Calculated based on your trade configuration. The collateral (USD amount) you must set aside to open and maintain a position, based on size and leverage.
Order value	-	Calculated based on your trade configuration. The value of the order, in USD, after applying leverage.
Slippage	Set a percentage value.	Slippage tolerance is the percent difference allowed between the quoted price and the execution price. 1% by default.
Margin mode	Cross or Isolated	Cross margin positions share the same cross margin collateral. If liquidated, your cross margin and other open positions may be lost. Isolated margin positions limit risk to your portfolio by capping margin for this position. Your isolated position is liquidated if it hits its individual margin ratio. You can adjust the margin. Cross by default.
Order type	GTC or AOC	Good-til-canceled orders stay open until filled or cancelled. All-or-cancel orders fill only if the entire order can execute immediately, otherwise the order will be canceled. GTC by default.