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How to do Perpetual Trading

Follow the below handy guideline to complete your perpetual trading on OpenOcean. Please be aware that perpetual trading is risky. Trade at your own risk!
  1. 1.
    Connect wallet Visit OpenOcean perpetual trading page and click “Connect Wallet” in the top right corner. Currently, we support perp trading on Avalanche and Arbitrum on the PC version.
  2. 2.
    Deposit funds
    Once your wallet is connected, you can deposit funds into the account. On Arbitrum, you can deposit - USDC, USDT, ETH, WBTC as collateral. And on Avalanche, you can deposit - AVAX, USDC, USDT, WETH.e, BTC.b. *Make sure you have sufficient ETH on Arbitrum and AVAX on Avalanche as your gas fee.
Note: If you are holding OOE, you could deposit OOE as a trading fee for the default payment option and enjoy a 20% discount (which might adjust in the future). If you don't have OOE on Avalanche, you could simply do a swap. On Arbitrum, you could bridge OOE from Ethereum, BNB Chain to Arbitrum through PolyBridge.
3. Select a token pair to trade After depositing funds, select the trading pair from the dropdown list to trade in the top left corner.
4. Open a position On the Order Form, select your order type. Choose Buy to open a long position and Sell to open a short.
5. Set your leverage You can change the leverage as you want from 1X - 25X.
To lower the risk of a single trade, we use cross-margin. In “Cross Margin” mode, the entire margin balance is shared across open positions to avoid liquidation.
Note: Remember that a high level of leverage carries a very high risk, trade at your own risk!
6. Place your order When all the parameters have been set, you can send the order by clicking “Place Limit/ Market/ Stop Limit/ Stop Market Order”.
7. Check your position Once the order has been sent, it will prompt on "Open Orders" until it is filled out. You can cancel the order at any time.
8. Close your position You can close your positions from the “Positions” by clicking on Close.