How to Trade Perpetual Contracts
Perpetual contracts are a type of derivative financial contract. At HyperionX, we offer USDX collateralized contracts. Unlike other derivative contracts, these contracts do not have an expiration date and can be held and traded indefinitely. Before initiating your first trade, ensure that your Exchange Wallet balance is sufficient. So you need to transfer funds from "My Wallet" to "Exchange Wallet".
Transfer
The steps to transfer funds from My Wallet to the Exchange Wallet are as follows:
-> Select and click on any "Transfer" button.
-> Choose to transfer from "My Wallet" to the "Exchange Wallet".
-> Select the cryptocurrency you wish to transfer and enter the amount.
-> Click "Transfer" to confirm the operation.
-> Once the transfer is complete, your funds are now deposited in the Exchange Wallet.
Please note that WUSDC transferred into the Exchange Wallet will automatically be converted to USDX. You can use the funds in the Exchange Wallet for futures trading and staking. Additionally, your funds are securely stored in HyperionX's smart contract, and you can transfer them back to your personal wallet at any time.
Trading Perpetual Contracts
Select the Market
First, click on the Perpetual - All Markets dropdown menu in the top left corner.Choose the perpetual contract trading pair you want to go long or short on.
Choose Trading Leverage
Similar to CEX, HyperionX allows traders to set the maximum leverage for each trade before execution.Trading leverage is based on your margin. Choose a multiplier applicable to your margin (priced in USDX) to achieve the maximum position.To adjust the trading leverage:- Click on the multiplier number in the top right corner of the contract interface.- Select the leverage.- Click the “Confirm” button.Note: Higher leverage increases potential returns but also increases the risk of liquidation of the position.
Choose Order Type: Limit or Market
Traders need to decide which type of trade (order) to place:- Market - Trades are executed immediately at the best available price in the AMM pool.- Limit - Set a limit price for buying or selling. The order will be executed at this price or a better one.Click to select either Limit or Market.Market Orders: Adjusting Slippage Limit- When placing a market order, users may want to adjust the slippage tolerance.- Slippage is the maximum deviation in the current order price a trader is willing to accept for execution.- The default slippage setting is 0.5%.- If users need to adjust slippage, click on the input box for Slippage Limit and enter the desired slippage percentage.
Enter Trade Volume
Input the size amount or collateral amount you want to trade. Size = Margin * Leverage Multiplier
Go Long or Short
To go long (buy) or short (sell) on a perpetual contract (perp), simply click "Buy/Long" or "Sell/Short."
Place Order and Sign Transaction
Press the "Place Long/Short Order" button.Confirm the transaction in your wallet.
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