Getting Started with Perps

This guide walks you from an empty wallet to your first open position.

1. Connect your wallet

Connect the wallet you want to trade with. If you haven’t yet, see Connect your wallet.

2. Set up your perps account

The first time you open perps, you’ll sign a one-time message to create your perps account and enable gasless order signing. This signature doesn’t move any funds — it authorizes your session to place and cancel orders without a wallet prompt each time.

3. Deposit collateral

Deposit collateral from any supported chain into your perps account. Contracts are settled in USDC, and you can post any accepted collateral as margin — see Margin & collateral for the current list.

Your deposit is an on-chain transaction and requires gas on the source chain. Once it confirms, your balance is available to trade.

4. Open a position

1. Select a market (for example, ETH-PERP).
2. Choose long if you expect the price to rise, or short if you expect it to fall.
3. Pick your margin mode — cross or isolated.
4. Set your leverage and order size.
5. Choose an order type — market to fill immediately, or limit to set your own price.
6. Review the order details, including your estimated liquidation price, and submit.

Placing the order is gasless. Your position appears in your positions panel as soon as it fills.

5. Manage the position

From the positions panel you can:

• Add or remove margin
• Set take-profit and stop-loss levels
• Reduce or close the position, partially or fully

6. Withdraw

When you’re ready to take funds out, withdraw from your perps account back to your wallet. Withdrawals are on-chain transactions and settle in USDC. You can only withdraw collateral that isn’t reserved as margin for open positions.