A position in price exposure
A perpetual future gives exposure to an asset’s price without a scheduled expiry. A long benefits when price rises; a short benefits when price falls. Holding the contract is different from holding the underlying token in a spot wallet.
Your position is supported by collateral. The venue marks the position and applies margin requirements. Funding can create ongoing payments between long and short positions, while trading fees and execution prices affect the final result.
Separate size from collateral
If SOL is $100, a position of 10 SOL has $1,000 of notional exposure. With $200 of initial collateral, that is 5× initial leverage. A move from $100 to $105 produces $50 of gross profit on a long, or $50 of gross loss on a short.
The $50 is 5% of the notional but 25% of the initial collateral. This is why leverage changes the sensitivity of your account. Fees, funding and margin rules alter the actual result and liquidation threshold.
Know how you will exit
A position can be reduced or closed voluntarily, or liquidated if required margin is no longer available. A reduce-only instruction is intended to decrease exposure rather than accidentally reverse it. Check the remaining size after a partial close.
A stop order is an execution instruction, not an exact loss guarantee. Gaps, liquidity and trigger rules can make the final fill differ from the stop level. Review both the trigger price and the order that will be submitted after the trigger.
Trading perpetuals through TRUE
TRUE provides on-chain perpetual trading and MCP order tools. Use the live market list to confirm the symbol and available market. MCP position sizes use base-asset units, so “1 SOL” and “$1 of SOL” are very different requests.
MCP perpetual orders require approval in TRUE before the app signs them. You must have opened perps in the app to provision the account. Review the side, size, leverage and whether an order opens or reduces a position before approving it.