In the OneKey App, you can trade perpetual futures via the integrated Hyperliquid platform, enjoying a convenient and secure derivatives trading experience.
What are Perps
Perps, short for Perpetual Futures, are a type of derivative similar to traditional futures, but unlike futures, they have no expiration date.
Perps are suitable for users who want to trade with leverage or short the market. For example:
If you are bullish on ETH, you can open a long position to amplify your returns;
If you are bearish on ETH, you can open a short position to profit as the price declines;
In the OneKey App, Perps trading is powered by Hyperliquid, allowing users to trade conveniently and securely within the App. Below are some useful tools that may be used during trading.
How to trade Perps in OneKey
Open the OneKey Desktop App (v5.12.0);
Go to the Futures module;
Select a trading pair (e.g., ETH/USDC-PERP);
Set the leverage multiplier and position direction (Long or Short);
Confirm the trade to start holding the position;
Understanding Perpetual Futures (Perp) Trading
P&L (Profit & Loss): Your profit or loss calculated in USDC.
TP/SL (Take Profit/Stop Loss): Preset levels to take profit or stop loss.
ROI (Return on Investment): Your profit/loss as a percentage of your margin since opening the position.
Size (Position Size): The total value of your position (Margin multiplied by leverage).
Margin: The amount of USDC you have committed to this position.
Direction: Whether you are long or short, and the leverage multiplier used.
Long: Your position profits when the price increases. If you believe the price will rise, go long.
Short: Your position profits when the price decreases. If you believe the price will fall, go short.
Entry Price: The token price when you opened or added to your position.
Liquidation: When your margin can no longer cover losses, the system will automatically close the position, and you will lose your margin.
Liquidation Price: If the token price touches the liquidation price, your position will be automatically closed to avoid further losses. This price will change when you add to or reduce your position.
Funding Payments: The total amount you pay or receive to keep your position open. Funding payments are settled between longs and shorts every hour to help keep the perpetual contract price aligned with the spot market price.
Fees
Trading on OneKey Perps may incur Trading Fees and Builder Fees. For details on fee tiers, discount rules, and HIP-3 asset fees, please refer to the OneKey App Wallet Service Fee Explanation.
Risk Warning
Perps are high-risk derivatives, and leverage can amplify both gains and losses. Please ensure you fully understand the risks and manage your positions reasonably.
FAQ
How to avoid receiving risky USDC during trades?
USDC Contract Blocklist: The platform regularly checks blocklisted addresses in the USDC contract. If a blocklisted address is detected, the system will prohibit related transactions to prevent risky USDC from entering the platform.
Transaction Tracing Function: Hyperliquid can trace the origin of all deposited and withdrawn funds to ensure they are clean. If USDC is exchanged during trading, the platform can still trace its source to prevent the introduction of risky USDC.
What is "slippage" in contract trading, and how to deal with it?
Slippage refers to the difference between the expected price and the execution price when placing an order. Hyperliquid, aggregated by OneKey, is currently the decentralized exchange with the highest trading volume and liquidity in the market. Hyperliquid uses smart order execution technology to dynamically select the best execution strategies based on market conditions, reducing the likelihood of slippage. This strategy intelligently analyzes market conditions and adjusts execution methods to minimize price deviation for large orders.