Once you have logged on, make sure you are in Live Trading.
Step 1. Select the Perpetual product in the drop-down menu.
Given that you are in the trading screen, this is by default set to Spot. Click on the dropdown and select Perpetual.
Step 2. Select the derivative market.
We currently support BTC/USDC[F] and ETH/USDC[F].
Step 3. You can create a trade order in Perpetuals the same way you do in Spot trading. As in, whether it be a Market, Limit or Stop trade order. You may set your respective order by locating the Order Form.
Please note: to execute any order, you will need to have enough Total Account Margin to cover at least the Initial Margin* amount. You can find this and other information relating to your Perpetual positions near the bottom of the Order Form.
Step 4. Upon creating your respective Perpetual trade order, you may check their status in the Order Blotter. As long as the order is not filled yet, you will find them under the ‘Open’ tab. As soon as the order is filled, they will appear under the ‘filled’ tab. Perpetual orders in the Order Blotter will have the same Perpetual market annotation, i.e. BTC/USDC[F].
You will be able to check your overall Perpetual position-size by click on the Positions tab.
Step 5. As perpetuals have no set expiry,
Perpetual prices are kept in line with the underlying spot prices, the contracts have an exchange of payment between buyers and sellers depending on where the future is trading relative to the underlying spot price. On EQONEX, we refer to the spread between spot and futures prices as Basis and the resulting exchange of payment as the Basis Payment.*
You may note down this event labeled as Basis on the EQONEX trading screen, and the time until the next Basis Payment as Funding.
The Basis shown is the expected payout or deduction from your account at the next Basis Payment for every 1 BTC Perpetual that you hold. You may read more about both of these here, *Basis (Funding).
Related article: Glossary of Terms and Definitions with Perpetual Trading
For further assistance or more information, please contact our Customer Support team via email@example.com or click on the chat widget at the bottom right-hand side of the EQONEX page.