How to Trade
Interacting with Satoshi Perps
Last updated
Interacting with Satoshi Perps
Last updated
Interacting with Satoshi Perps
Simple step-by-step guide on how to Trade on Satoshi Perps
*The following guide is for informational purposes only. Trading perpetual futures carries significant risks. This is not financial advice.*
To start trading on Satoshi Perps, you first need to fund your Core Wallet with CORE, the native token of the Core Blockchain. You’ll need CORE to cover transaction fees when interacting with Satoshi Perps. Learn how to onboard on Core.
If you’re new to Web3, we recommend watching this video playlist by Core DAO.
These short videos cover everything you need to start your on-chain web3 journey. Watch Now.
With CORE in your wallet, the next step is to acquire BTC for trading on Satoshi Perps. For this guide, we’ll use SolvBTC.CORE , You can get SolvBTC.CORE in a few ways:
You can bridge many different assets through the official Core Bridge powered by LayerZero and then follow the instructions below.
Alternatively, you can use the CORE in your wallet to buy SolvBTC.CORE on-chain through AKKA
Since Satoshi Perps is a decentralized exchange, querying of data and submitting of transactions is done through an RPC URL.
There may be times when the RPC URL is not as responsive as it should be, during these times you may notice data being slow to load or not loading on your page. It is also possible to hit the rate limit with the public Core Mainnet RPC URL (https://rpc.coredao.org) which would result in 429 errors.
To continue using the exchange during these times you can use a backup URL or switch the RPC URL in the network settings of your wallet and the page should load faster after.
A list of RPC URLs and their statuses can be found on Chainlist (https://chainlist.org/chain/1116).
Now that we have our SolvBTC.CORE ready, head over to the Satoshi Perps dAPP and connect your wallet by clicking the “Connect Wallet” button at the top-right corner of the website.
Connect Wallet button on the top-right of the website
You can select your desired market by clicking on the Market dropdown located at the top-left of the candlestick chart. For this guide, we’ll select the BTC/USD market.
Selecting the BTC/USD market
The trading form allows you to input your order details, such as side (Short/Long), type (Market/Limit/TP/SL), collateral size, trade size, and leverage. Once you’ve filled out the form, you can execute your trade order. You can find the trading form on the right side next to the candlestick chart.
Trading form on the right side of the candlestick chart
When placing a trade in a perpetual contract, you have the option to “bet” on whether the price will go up or down. Select LONG if you’re bullish or SHORT if you’re bearish on the market you want to trade in.
Bullish -> You think the price of something will go up.
Bearish -> You think the price of something will go down.
Selecting LONG or SHORT in the trading form
For this trade, we selected to go LONG.
When placing an order, you can choose between different order types:
Market Order: Executes immediately at the current market price.
Limit Order: Executes at a specific price you set.
TP/SL Order: Take Profit (TP) and Stop Loss (SL) orders automatically close your open position at predefined profit or loss levels.
Selecting order type: Market, Limit, or TP/SL
Collateral is the amount of SolvBTC.CORE you are willing to risk in your trade. On Satoshi Perps, you lock up your collateral per position, and you can retrieve it once you close your trade.
Above the Collateral Size Input, you can see the Pay value, which represents the USD value of your inserted collateral.
Next to the Collateral Size Input, there is the Collateral Asset selector, displaying the asset you’re using as collateral for the trade (in this case, SolvBTC). You can use this to select different assets as collateral if available.
Above the Collateral Asset, the Wallet Balance is displayed, showing how much of the asset (SolvBTC.CORE) you have available in your wallet.
Inputting your collateral amount in SolvBTC.Core
Trade size corresponds to the total amount you are longing or shorting. This determines the scale of your trade and influences your potential gains or losses. You can set the trade size directly, and it will adjust your collateral value based on your leverage multiplier.
Above the Trade Size Input, you can see the directional side and USD value of the total trade.
Next to the Trade Size Input, there is the Market Selector, which displays the market you are placing your trade in (in this case, BTC/USD). You can use it to switch to other available markets.
Above the Market Selector, the Effective Leverage multiplier of the trade is displayed.
Inputting your total trade size
Leverage allows you to amplify your trading position by borrowing additional funds. This means you can control a larger position with a smaller amount of your own capital. On Satoshi Perps, you can set leverage up to 250x. Use the slider or the input box above it to choose your desired leverage level.
Setting how much leverage you want in your trade up to 250x with a slider or input box
Now that your order is all set, you can click on the “Long BTC” button to place your trade.
An order summary will pop up, allowing you to review your order details and fees. If this is your first time using SolvBTC.CORE as collateral from this wallet on Satoshi Perps, you will need to sign a Spend Approval to enable the deposit of SolvBTC.CORE for your trade.
Clicking the Allow BTC to be spent button
Your wallet will prompt you to sign the spend approval, which won’t incur any gas fees.
Signing spend approval
Signing spend approvalSigning spend approval
Clicking the Long BTC button to place your trade
Once approved, you’re all set to execute your trade and send it to the blockchain. Click on the “Long” button, which will open another prompt in your wallet to confirm the transaction and open your trade.
In a few seconds, you should see your position opened and your trade live!
Opened trade position
Congratulations on your first trade on Satoshi Perps!
