Trading Perpetuals
A perpetual futures contract lets you take long or short exposure to a market without an expiry date. Trasia perps are margined and settled in USDC.
Order Types
The order form has Default and Pro modes.
| Order Type | Use It For |
|---|---|
| Market | Initiate an order request intended to open or close immediately using available liquidity |
| Limit | Initiate an order request at a specified price |
| Scale | Create a ladder of limit orders across a defined price range |
| Stop Market | Initiate a market order request when the stop trigger condition is met |
| Take Market | Initiate a market order request to take profit when the trigger condition is met |
| TWAP | Execute a total size over time through scheduled child orders |
You initiate order-related actions from the trading form while the active market context stays visible. Connected wallets and third-party systems process the resulting requests.
Long and Short
Select Long or Short and review the margin mode, leverage, size, order conditions, and summary before initiating the request.
Cross Margin Risk
When Cross Margin Ratio reaches 80%, Trasia warns that the account is approaching liquidation risk.
At 100% or above, the liquidation threshold is reached and the connected protocol may liquidate positions. Liquidation is performed by the protocol, not by Trasia.
Minimum Order Value
Orders must have a minimum value of 10 USDC.
Pro order types are subject to the same minimum order checks. For TWAP, each child order must also be at least 10 USDC. A TWAP with a child order below the minimum cannot be initiated.
Price Terms
| Term | Meaning |
|---|---|
| Oracle Price | Reference price used by the market's oracle logic. It can come from external pricing when available or internal pricing when external data is unavailable. |
| Mark Price | Price used for margin, liquidation, trigger orders, and unrealized PNL. |
| External Price | Latest externally derived fair price. It may remain fixed while external markets are closed. |
| Discovery Bounds | Market protection limits that restrict mark price movement around a reference price during price discovery periods. |
These are reference concepts, not fixed market parameters. Live values can change by market.
Trading Approval
Builder fee and trading agent approval must complete before the first trade. If approval fails, the order request is not sent and must be initiated again after approval succeeds.