How to Trade Perps?

To begin, navigate to the collateral section and click Deposit to add collateral. This step safeguards your account against potential losses due to market fluctuations.

Next, select the market for trading. Do this by clicking on 'Trade', then 'Perpetuals', and selecting the market of your interest.

At the top of the trading form, decide whether to go long (buy) or short (sell), and choose your preferred order type.

Spark provides two types of orders: Market and Limit, to assist in risk management. For beginners looking to purchase the perpetual contract at its current rate, a Market Order is recommended. Further information on Market Orders can be found in the Order Types section.

Position Size and Leverage

Specify the quantity of the underlying asset for your position in one of three ways:

  1. Utilize the text input on the left to enter the desired amount of the underlying asset.

  2. Employ the text input on the right to specify the amount of USDC collateral you wish to utilize.

  3. Alternatively, adjust your position size using the leverage slider or the buttons beneath it. This slider will automatically display the amount of leverage being applied.

Opening a Position

To initiate your position, click the button located at the bottom of the Trade form. This action will trigger a confirmation modal where you can scrutinize the specifics of your trade and verify their accuracy. Once satisfied, you will be prompted to authenticate the transaction using your connected wallet.

Modifying an Existing Position

To adjust an existing open position, you can either purchase or sell the same asset. Follow the previously mentioned steps for the specific asset to adjust your position. Be aware that altering the leverage will consequently affect your liquidation price.

Closing a Position

When you decide to conclude a trade, you can exit your current position. Navigate to the "Positions" tab, find your active position, and select "Close" to lock in your Profit & Loss (P&L). Remember to authenticate the transaction using your connected wallet.

After closing the position, your Balances and Total Collateral should update, provided there is no remaining Unrealised P&L.

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