Skip to main content
Perpetual futures (“perps”) let you trade the price of an asset — up or down — without owning it. Monofin’s perps run on Hyperliquid’s deep on-chain liquidity, so you get tight spreads and instant settlement, 24/7/365.

​
What you can trade

  • Majors — BTC, ETH, and other large-caps with the deepest books
  • Altcoins — HYPE and a rotating set of high-volume altcoin markets
  • New perp markets are listed as venue liquidity supports them

​
How perps work

A perp tracks the price of the underlying asset. There are no expiry dates, no lock-ups, and no settlement periods — open or close in seconds, including nights, weekends, and holidays when traditional exchanges are closed. Every perp trade is three choices:
  1. Direction. Think the price rises? Go long. Think it falls? Go short.
  2. Size. How much collateral to put behind the trade.
  3. Multiplier. Leverage up to the market’s maximum — up to 40x on major markets. $100 at 10x controls a $1,000 position. Multipliers magnify losses as well as gains.

​
The three mechanics to understand

Your collateral (margin) backs the position. If the market moves against you and your margin can’t cover the loss, the position is liquidated. You can add margin to a position to move your liquidation price further away. See Leverage, funding, and liquidations.
Perps have no expiry, so periodic funding payments between longs and shorts keep the perp price anchored to the underlying market. When funding is positive, longs pay shorts; when negative, shorts pay longs. The current funding rate is shown on every market page.
If your position’s losses eat through your margin, it’s liquidated automatically and you lose the margin on that position. Your estimated liquidation price is always shown on the trade ticket before you confirm — never a surprise.

​
Tools on every ticket

  • Market and limit orders — see Order types
  • Take profit / stop loss attached to the position from the start
  • Estimated liquidation price and itemized fees before you confirm
  • Plain-English risk disclosure at the bottom of every ticket
Perps with leverage are high-risk instruments. Liquidation can happen fast in volatile markets, and you can lose the entire margin on a position. Never trade with funds you can’t afford to lose.