UI Overview
Content Out of Date
This content is not maintained and refers to an out-of-date version of Perpetual Protocol.
For the latest documentation, see https://docs.perp.com
Deposit & Withdraw
Deposit and withdraw to increase or decrease the amount of funds you have in the exchange.
Deposits and withdrawals will affect your:
Free collateral
Margin ratio
Account leverage
There are two buttons for each collateral type: Withdraw and Deposit.
Deposit
For the collateral type you want to deposit (USDC, ETH/WETH or FRAX), click on the Deposit button and enter the amount.
If you don't have any ETH or USDC on Optimism, you can use one of the integrated bridges: Biconomy or Li.Fi. You can also click on the "Bridge USDC" or "Bridge ETH" buttons to transfer funds from a variety of different networks using other bridges.
Click on the "Deposit" button and confirm the transaction in your wallet. The deposited amount will be added to your balance (under the 'Amount' and 'Available' columns).
Now you can begin trading or providing liquidity across any of the markets available on Perp v2!
Withdraw
Click on the "Withdraw" button for the asset you want to receive in your wallet. Enter the amount and click on the "Withdraw" button.
Once confirmed in your wallet, the transaction will be sent and you'll receive the funds from the exchange contract. The amount withdrawn will be deducted from the available balance and will be shown underneath the 'Wallet' column.
Account Summary
The account summary card on the app homepage shows the net USD value of your account and the free collateral. Click on the arrow next to free collateral to see your buying power.
The table beneath the account summary card shows the breakdown of the different assets in your wallet and the amounts deposited to the exchange contract.
Wallet: the amount of USDC, ETH/WETH and FRAX in your wallet.
Amount: the amount of USDC, ETH/WETH and FRAX deposited to the exchange contract and the collateral weight. The USDC amount reflects both realized (price, fees, funding) and unrealized PnL.
Available: shows the available amount that can be withdrawn based on your free collateral.
Order Panel
Navigate to the market you want to trade using the sidebar. All orders are created using the order panel on the right-hand side of the market's page. You can also reduce the size of a position by opening a reverse order:
Reduce a long position by making a short order
Reduce a short position by making a long order
Long/Short
Use the Long or Short button to choose what type of position you will open.
Long - you will profit if the asset price increases
Short - you will profit if the asset price decreases
Order Type
Select an order type: market, limit or stop loss limit.
A market order will be executed immediately at the best available price.
A limit order allows you to set a limit price. The order will be filled once the mark price crosses the limit price.
A stop loss limit order allows you to set a trigger price at which a limit order will be executed. Once the index price crosses the trigger price, the order become just like a standard limit order and will be filled when the mark price reaches the limit price.
An expiry date for limit and stop loss orders must also be specified, ranging from 5 minutes to one week.
Limit and stop loss orders also have the reduce-only option available. Tick the box if you want to post a limit/stop loss as reduce only.
Amount
There are 3 options for setting the amount, which is the position size.
Base token amount (e.g. ETH, BTC)
Quote token amount (USD)
BP (buying power, which lets you use a percentage of your funds)
When you use funds to open a position, you are able to use up to 10x the amount of free collateral you deposited into the exchange. Using all the funds is equivalent to 10x leverage. It is recommended to use at most 2x-3x leverage. E.g. if you deposited, 100 USDC, you will be able to open a position worth 1000 USDC (a position with 10x leverage).
Transaction Summary
Review various details of the position you are about to open.
Slippage
Set the amount of slippage you are willing to accept. It may be useful or necessary to set higher slippage in volatile market conditions.
Optimism note: currently transactions are sequenced by the Optimism team’s sequencer, so in theory there is no MEV (miner-extracted value).
Fills/Limit Orders
Each market (e.g. BTC) has a Fills tab which shows your trade history for this market only. There's also a Limit Orders tab to display your active limit/stop loss orders.
Fills tab
Click on the time to view the trade on the block explorer.
Limit Orders tab
View the status of unfilled limit orders. You can also cancel your limit order from this tab (note that cancelling carries a gas fee).
The number of active limit orders for each market is displayed by the sidebar:
Positions
When you buy or sell tokens on Perpetual Protocol, you are opening a position. These tokens are only usable in the exchange and cannot be directly withdrawn to your wallet.
If you want to withdraw, close your position and withdraw USDC from the summary page.
Position tab
Leverage
Leverage on Perpetual Protocol v2 is not set directly, but rather by using more USD tokens than you originally deposited. When you deposit collateral, you will receive 10x the value in USD tokens. Using any amount of USD above 1x counts as leverage above 1x.
Example
1. You deposit 100 USDC, and receive 1,000 USD v-tokens. If you open a trade using 500 USD, your account leverage will be at 5x. 2. You deposit 1 ETH (assume 1 ETH = $4000). You will receive 40,000 USD tokens. If you open a trade using 10,000 USD, your account leverage will be at 2.5x.
Leverage and account margin are also displayed on the home page via a colour-coded scale that indicates your risk:
If the scale starts to tip into the orange zone (50% > margin ratio > 6.25%), then you may want to deposit more collateral or reduce the size of your open positions to reduce leverage and avoid being liquidated on a sudden, sharp price movement.
History
Find account history here including:
Transaction history
Funding payment history
Pending funding payments
Deposit history
Withdrawal history
Liquidation history
Limit order history
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