Perps
Trade perpetual futures directly in Drop, powered by Hyperliquid.
What Are Perps?
Perpetual futures (perps) are derivative contracts that let you speculate on the price of an asset without owning it. Unlike traditional futures, they have no expiry date—you can hold a position indefinitely.
- Long: Profit when the price goes up
- Short: Profit when the price goes down
Access
Navigate to Exchange and toggle from Spot to Perps in the header.
Placing an Order
- Select a market from the market selector (e.g. BTC, ETH, SOL)
- Choose Long or Short
- Select order type: Market or Limit
- Enter your position size
- Set your leverage (1x–50x depending on the market)
- Optionally set Take Profit and/or Stop Loss
- Confirm the order
Order Types
| Type | Description |
|---|---|
| Market | Executes immediately at the best available price |
| Limit | Executes only when the market reaches your set price |
Advanced Options
- Reduce Only — Only reduces an existing position, won't open a new one
- Post Only — (Limit orders) Ensures your order is a maker order; rejected if it would match immediately
Leverage
Leverage amplifies both gains and losses. Set leverage using the slider or preset buttons (1x, 5x, 10x, 25x, 50x).
WARNING
Higher leverage increases liquidation risk. Start with lower leverage if you're new to perps trading.
Take Profit & Stop Loss
Protect your positions with automated exit orders:
- Take Profit (TP) — Automatically closes your position at a target profit price
- Stop Loss (SL) — Automatically closes your position to limit losses
Estimated PnL is shown for each before you confirm.
Order Book
The order book shows real-time bid/ask depth for the selected market. Click any price level to populate it as a limit order price.
Tabs let you switch between:
- Book — Live order book depth
- Trades — Recent public trades on the market
Positions
Track all your open positions, orders, and trade history:
- Positions — Active positions with entry price, size, leverage, unrealized PnL, and liquidation price
- Open Orders — Pending limit orders that can be canceled
- Fills — Executed trade history
Market Info
Each market shows:
- Mark price and 24h change
- 24h volume
- Open interest
- Funding rate
Agent Wallet
Perps trading uses an agent wallet for signing orders. On your first trade, you'll be prompted to authorize the agent wallet. This is a one-time setup that enables fast order execution without requiring approval for each trade.
Desktop Layout
On desktop, the perps view features a multi-panel layout with drag-and-drop:
- Left panels: Market info, token info, order book (draggable)
- Center: TradingView chart and positions panel (resizable)
- Right panels: Order form (draggable)
Drag panel headers to rearrange. Drag dividers to resize.
Powered by Hyperliquid
All perpetual futures trading on Drop is powered by Hyperliquid, a high-performance chain optimized for on-chain order book trading. This provides:
- Deep liquidity across all listed markets
- Fast execution with sub-second finality
- Transparent pricing with on-chain order matching
- Self-custody — your funds stay in your control