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How Trading Works

PerpCord simulates perpetual futures trading using real cryptocurrency prices from CoinGecko. Each trading round features a randomly selected token, and you bet on whether its price will go up or down.

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Game Rounds

PerpCord features quick ~10 minute rounds for action-packed trading. Rounds start automatically back-to-back, so there’s always a game to play!
  • Duration: ~10 minutes per round
  • Pace: Rapid-fire trading with rounds starting back-to-back
  • Best for: Active traders who enjoy quick decisions and frequent action

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Trading Round Basics

Each round follows these core mechanics:
  • Token Selection: Each round features a randomly selected cryptocurrency
  • One Trade Per Round: You can only place one trade per round
  • Trade Cutoff: Trading closes 2 minutes before settlement
Your entry price is set when you place your trade, not when the round starts. This means timing matters!

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Placing a Trade

Use the /perp trade command with three parameters: 
/perp trade direction:LONG leverage:50 size:2000

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Direction

Choose your position based on your price prediction:
DirectionYou Win WhenYou Lose When
LONGPrice goes UPPrice goes DOWN
SHORTPrice goes DOWNPrice goes UP

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Leverage

Leverage multiplies both your potential gains AND losses:
LeverageRisk LevelLiquidation Threshold
🚀 10xLow10% move against you
🔥 25xMedium4% move against you
💀 50xHigh2% move against you
⚔️ 100xDanger1% move against you
💣 250xExtreme0.4% move against you
Higher leverage means higher risk! A small price movement can wipe out your entire position with high leverage.

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Size

The size is how many coins you’re risking on the trade:
  • Must be greater than 0
  • Cannot exceed your current balance
  • This is the maximum you can lose on the trade

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Profit & Loss Calculation

Your PnL (Profit and Loss) is calculated when the round settles: 
Price Change % = ((End Price - Entry Price) / Entry Price) * 100

For LONG:  PnL = Size * Leverage * (Price Change % / 100)
For SHORT: PnL = Size * Leverage * (-Price Change % / 100)

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Example Calculations

Example 1: Winning LONG Trade
  • Entry Price: $1.00
  • End Price: $1.02 (2% increase)
  • Size: 1,000 coins
  • Leverage: 50x
PnL = 1,000 * 50 * (2 / 100) = 1,000 coins profit
Example 2: Losing SHORT Trade
  • Entry Price: $1.00
  • End Price: $1.01 (1% increase)
  • Size: 500 coins
  • Leverage: 100x
PnL = 500 * 100 * (-1 / 100) = -500 coins loss

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Trade Cutoff Window

Trading closes 2 minutes before the round settles. This prevents last-second trades that could exploit price movements. When trading is closed, you’ll see:
  • A “Trading CLOSED” status in /perp status
  • A countdown to settlement
  • You cannot place new trades until the next round

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Checking Your Trade

After placing a trade, you can verify it with: 
/perp status
This shows your current position and the round’s progress.

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Tips for Trading

Start with lower leverage (10x) while you learn the game. You can always increase risk later!
Don’t go all-in on every trade. Managing your bankroll helps you survive losing streaks.
Watch the price chart shown when rounds start. Recent price action can hint at momentum.

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Profit Boosts

When you have active profit boosts (from the wheel or magic potions), your winning trades receive bonus coins. Boosts work on a charge system - each winning trade consumes one charge. Charges expire after 2 hours if not used.
Time your trades wisely when you have boost charges active! Use them on high-conviction trades to maximize your gains.

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Next Steps

Duels

Challenge other players to trading duels

Badges

Earn badges for your trading achievements

Leaderboard

Compete for the top spot