Trade crypto perps with your own money.
Go long if you think a price goes up, short if you think it goes down. Your own AUSD, on Perpl, from your MonFunded wallet.
Try the maths on live prices
Pick a market, a direction, your margin and your leverage. This is a calculator: nothing is sent and no money moves.
- Price now
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- Position size
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- Opening fee
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Approximate: it ignores funding, the price your order really fills at and any move while it fills. Example numbers, not advice.
Prices delayed
How it works
Four steps from an empty wallet to your first position.
Get AUSD
Make a wallet in the app with Face ID or a fingerprint, add money on Monad, then get AUSD: a digital dollar that Perpl takes as collateral. Your first deposit to Perpl is at least 10 AUSD.
Open Perps and pick a market
Choose from Perpl's markets, such as BTC, ETH, SOL or MON. The screen shows the price, the 24 hour change and the most leverage that market allows.
Choose long or short, size and leverage
The screen shows the position size, the fee and the price where Perpl would close your position, before you sign. Your wallet signs the order.
Close any time
Close the position when you want: closing costs no Perpl fee. When AUSD is not holding a position, you can withdraw it back to your wallet.
What it costs
Perpl sets its fees and can change them. The calculator above shows today's opening fee.
Opening with a market order
A small share of the position size, charged when you open or add to a position. The order fills now, taking from the book. It is a share of the position, not of your margin.
Opening with a limit order
A lower fee, because the order rests on the book until the price comes to it instead of taking from it.
- $0
Closing
Free. The screen says so before you sign.
- 43 min
Funding
Every 43 minutes, one side pays the other: positive funding means longs pay shorts, negative means shorts pay longs. It is paid from or into your position's margin, so a long-held position can cost more than the opening fee.
- MON
Network fee
Your wallet signs each order, deposit and withdrawal as a transaction on Monad. That costs a small network fee paid in MON, shown on the review screen before you sign.
Price protection: a market order never fills more than 1% past the best price on the book. Whatever the book cannot fill within that is cancelled.
Words you will see
Every term, once, in plain words.
- Perpetual (perp)
- A bet on a price with no end date. You put up some AUSD as margin, pick a direction and gain or lose the price move times your position size.
- Long
- You gain if the price goes up and lose if it goes down.
- Short
- You gain if the price goes down and lose if it goes up.
- Margin
- The AUSD you put up for a position. It is the most that position can lose.
- Leverage
- How many times bigger your position is than your margin. 10x means a $100 margin controls a $1,000 position, so gains and losses are ten times bigger too.
- Mark price
- The price Perpl values your position at and closes it at. It follows the oracle and the book, so one odd trade cannot close you out.
- Funding
- A small payment between longs and shorts, every 43 minutes, that keeps the perp close to the real price.
- Liquidation
- Perpl closes your position for you when its margin has fallen to the market's maintenance margin, between 4% and 10% of the position depending on the market. You can lose the whole margin. Lower leverage puts that point further away.
- AUSD
- Agora Dollar, a digital dollar on Monad, built to stay worth $1. Perpl takes it as collateral.
- Position size
- Margin times leverage: the full amount you are betting on.
Risks, plainly
This is your own money, not a simulated account. You can lose it.
Leverage can lose the whole margin of a position. The higher the leverage, the smaller the move that does it.
If a position's margin falls to the maintenance level, Perpl closes it for you and returns only part of what is left.
In a fast or thin market a market order can fill up to 1% away from the price you saw, and part of it can go unfilled.
Onchain transactions cannot be undone. Check the market, the direction and the amount before you sign.
Funding and fees are charged on top and can change. Nothing on this page is financial advice.
Questions
How is this different from the challenge?
The challenge trades a simulated account: no real money moves, you pay a one-time fee and can earn a payout. Perps trades your own AUSD on Perpl, so gains and losses are real.
Can I lose more than my margin?
You can lose all of a position's margin. Perpl closes a position before the margin is gone, but in a fast market it can close at a worse price than the one you saw. Only put in what you can afford to lose.
What is AUSD?
Agora Dollar, a digital dollar on Monad, built to stay worth $1. Perpl takes it as collateral. You can get AUSD in the app from USDC or MON.
Is it my money?
Yes. Your wallet signs each transaction and the AUSD goes straight to Perpl's exchange contract on Monad, not to MonFunded. It stays yours.
When can I withdraw?
Any time the AUSD is not holding a position, back to your wallet. Perpl can limit withdrawals for a few minutes at a time, and then you try again.
How much do I need to start?
Your first deposit opens your Perpl account and must be at least 10 AUSD. You also need a little MON for the network fee.
Why Perpl?
Perpl is an exchange for perps that runs on Monad, with its own order book. The challenge also uses Perpl's live prices, so the market you practise on is the one you trade.
Can I try it without money?
The free demo in the app is a simulated account and has no Perps screen. To practise with no money at risk, try the challenge: its account is simulated, and only its fee is real.
One wallet. Everything in one app.
Open the app in your browser, make a wallet with your face or fingerprint, and try the free demo before you pay anything.