In the OneKey Desktop App, you can trade perpetual futures through the embedded Hyperliquid platform, enjoying a convenient and secure derivatives trading experience.
What are Perps
Perps, short for Perpetual Futures, are a derivative similar to traditional futures, but unlike futures, they have no expiry date.
Perps are suitable for users who want to use leverage or short positions, for example:
If you are bullish on ETH, you can open a long to amplify gains;
If you are bearish on ETH, you can open a short to profit from price declines;
In the OneKey App, Perps trading is powered by Hyperliquid, allowing users to trade conveniently and securely within the App.The following are the practical tools that may be used in the transaction.
How to Trade Perps in OneKey
Open the OneKey Desktop App (v5.12.0);
Go to the Contracts module;
Select a trading pair (for example ETH/USDC-PERP);
Set the leverage and position direction (long or short);
Confirm the trade to start the position;
Understand Perp trading
P&L: Your profit or loss in USDC.
TP/SL:
ROI: Profit or loss as a percentage of your margin since opening.
Size: The total value of your position (margin times leverage).
Margin: The amount of USDC you put up for this position.
Direction: Whether you’re long or short, and the leverage you’re using.
Long: Your position earnings grow as the price goes up. If you believe the price will go up, go long.
Short: Your position earnings grow as the price goes down. If you believe the price will go down, go short.
Entry Price: The token’s price when you opened the position or increased its size.
Liquidation: When your margin can no longer cover losses, your position auto-closes and you lose the margin.
Liquidation Price: If the token’s price reaches liquidation price, your position will be automatically closed to prevent further loss. This value changes when you add to or reduce the position.
Funding Payments: The total amount you’ve paid or received to keep the position open. Funding is exchanged hourly between long and short traders to help align the price of this perp contract with the price of the token on the spot market.
Trading Fees
When trading Perps via the built-in Hyperliquid page in OneKey, fees include the following:
Trading fees
Opening a position: total rate 0.065% (0.02% OneKey fee + 0.045% Hyperliquid base rate)
Closing a position: total rate 0.065% (0.02% OneKey fee + 0.045% Hyperliquid base rate)
Deposit and withdrawal fees
When depositing or withdrawing, fees are determined by the network gas fees at the time and Hyperliquid's charging standards;
OneKey does not charge any additional deposit or withdrawal fees;
Funding Rate
Perpetual contracts have no expiry date; to keep prices close to spot, a funding rate mechanism is used;
When the funding rate is positive, longs pay shorts; when it is negative, shorts pay longs;
The funding rate is dynamically calculated by Hyperliquid and settled periodically;
Risk Warning
Perps are high-risk derivatives; leverage can amplify both gains and losses. Please make sure you fully understand the risks and manage your positions prudently.