What is the "perpetual" in perpetual futures?

Unlike traditional futures, perpetuals do not have an expiry date, allowing you to hold a position as long as you have enough margin.

Can I lose more than my initial deposit?

No. Dexly use isolated and cross margin modes with automated liquidation to ensure you can only lose the margin allocated to your position.

Where are my funds held?

Your funds stay in protocol smart contracts on the Hyperliquid blockchain. Dexly is a non-custodial interface.

What assets can I trade?

Dexly supports over 100+ perpetual markets including BTC, ETH, SOL, and trending altcoins.

Do I need a KYC to trade?

No. You only need a compatible crypto wallet to start trading on Dexly.

Dexly | Perpetual Trading Basics

What are Perpetuals?

Perpetual futures (or "perps") are a type of derivative that allows you to speculate on the future price of an asset without owning the underlying asset itself. They are unique because they have no expiration date—you can hold a position for as long as you want.

Key Takeaway

Perps allow for efficient capital usage through leverage, enabling you to gain exposure to price movements with a fraction of the cost.

Perps vs. Spot Trading

In spot trading, you buy and own the actual crypto. In perps trading, you are entering a contract based on the price.

Ownership: Spot means you own the token; Perps is a price contract.
Leverage: Perps offer leverage (up to 50x on Dexly); Spot is typically 1:1.
Direction: You can easily "Short" (profit from price drops) in Perps.

Key Mechanics

Trading perps involves three main concepts: Margin, Leverage, and Funding Rates. Understanding these is essential for any professional trader.

Understand Your Risk

While leverage amplifies gains (ROE), it also amplifies losses. A small price move in the wrong direction can trigger a liquidation.

Long vs. Short

In traditional markets, you usually profit only when prices go up. In perps, you can profit in any market condition.

Go Long

Buying with the expectation that the price will rise. You profit if the exit price is higher than the entry price.

Go Short

Selling with the expectation that the price will fall. You profit if the exit price is lower than the entry price.

Your First Trade

Follow these four simple steps to execute your first on-chain perpetual trade on Dexly:

Connect Wallet

Connect your MetaMask or Coinbase wallet and bridge USDC to Hyperliquid L1.

Pick a Market

Select an asset from the Market tab. We recommend starting with BTC or ETH.

Analyze & Set

Choose your leverage (keep it low!) and decide on your position size.

Execute

Click Buy (Long) or Sell (Short) and monitor your trade in the dashboard.

Trading on Dexly

Dexly provides a high-performance, wallet-first interface to the Hyperliquid blockchain. Enjoy CEX-like speed with DEX-level security.

View Markets Open BTC Trade

Perpetual Trading Basics