What is a perpetual future?

A contract that follows the price of an asset and never expires. Go long if you expect the price to rise, short if you expect it to fall. Your profit or loss moves with the price for as long as the position is open.

How does leverage work?

Leverage opens a position bigger than the margin you put in: at 10x, $100 of margin opens a $1,000 position. Gains and losses grow by the same factor. Each market shows its maximum leverage next to its name, and larger positions allow less.

When is a position liquidated?

Every position has its own margin (isolated margin). If the mark price reaches the liquidation price shown on the ticket, the position closes and its margin is lost; the rest of your balance is not touched. Lower leverage moves the liquidation price further away.

Every hour, longs and shorts exchange a small payment that keeps the contract close to the asset's spot price. When the rate is positive, longs pay shorts; when it is negative, shorts pay longs. The current rate and the time to the next payment are in Overview.

What does it cost to trade?

A fee on the position size each time you open or close, shown as Est. fees on the ticket before you place the order, plus funding while the position is open.

What are the mark and oracle prices?

The oracle price is the asset's spot price from external exchanges. The mark price is the contract's fair price: it values your position and decides liquidations. Funding keeps the two close.

Market, limit, take profit, stop loss?

A market order fills right away at the best available price. A limit order waits for your price (demo accounts only for now). Take profit and stop loss close the position on their own when the price reaches the levels you set.