What to keep in view
A market order seeks available liquidity; a limit order may remain unfilled. Use reduce-only where appropriate and verify the remaining position after closing.
Perpetual futures
Crypto Perpetual Futures: Trading, Leverage and Fees
Understand long and short positions, margin, maker and taker fees, and funding before trading perpetuals with TRUE.
Open perpetual markets →How to get started ↓01 / Perpetual futures
How it works
Perpetuals provide price exposure without owning the underlying asset. Review notional size, leverage, funding and liquidation together. A smaller margin requirement does not make the position’s exposure smaller.
Perpetual futures
Plan
InstrumentBTC-PERP
Size1,000 USDC
Illustrative margin200 USDC
Review
SizeLeverageQuote
Follow through
PermissionsExecutionActivity
Illustrative walkthrough · no live data or orders
02 / Perpetual futures
How to get started
- 01
Open the market
Enter TRUE’s perpetual trading area and select an available instrument.
- 02
Set the order
Choose long or short, size and order type. Review leverage and margin.
- 03
Review and approve
Check fees and liquidation risk before authorizing. Every MCP perpetual order requires app approval.
- 04
Monitor the position
Inspect fills, remaining orders, funding and margin. Partial closes can leave exposure open.
Costs and limits
Leverage magnifies losses as well as gains. Funding, execution fees and liquidation costs are separate. Stop orders do not guarantee a maximum loss.
View fees →The next step stays yours.
Open perpetual markets →Calculate costs on position size
The published venue schedule is 0.020% maker and 0.100% taker per fill, before a possible weekly rebate. At $1,000 notional, two taker fills cost $2 in execution fees even if you use less collateral through leverage. Funding, slippage and other costs are separate.
Use the perpetual fee calculator for a worked estimate, and read the full fee and rebate ladder. A rebate is not an upfront reduction and is not paid until its account requirements are met.
Margin is not your total exposure
A $1,000 position at 5× leverage uses approximately $200 initial margin before other requirements and costs. A 1% move in the position is roughly $10, or 5% of that margin, before fees. Maintenance margin, mark price and account rules determine liquidation; leverage alone does not give an exact liquidation price.
Review the margin guide and funding examples. A limit order can execute as a taker when it crosses the order book.
Continue with a related guide
Updated 2026-09-17. Sources, examples and review approach.