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.
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
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!
Placing a Trade
Use the /perp trade command with three parameters:
/perp trade direction:LONG leverage:50 size:2000
Direction
Choose your position based on your price prediction:
| Direction | You Win When | You Lose When |
|---|
| LONG | Price goes UP | Price goes DOWN |
| SHORT | Price goes DOWN | Price goes UP |
Leverage
Leverage multiplies both your potential gains AND losses:
| Leverage | Risk Level | Liquidation Threshold |
|---|
| 🐢 3x | Minimal | 33% move against you |
| 🚀 10x | Low | 10% move against you |
| 🔥 25x | Medium | 4% move against you |
| 💀 50x | High | 2% move against you |
| ⚔️ 100x | Danger | 1% move against you |
| 💣 250x | Extreme | 0.4% move against you |
Higher leverage means higher risk! A small price movement can wipe out your entire position with high leverage.
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
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)
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
- Entry Price: $1.00
- End Price: $1.01 (1% increase)
- Size: 500 coins
- Leverage: 100x
PnL = 500 * 100 * (-1 / 100) = -500 coins loss
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
Checking Your Trade
After placing a trade, you can verify it with:
This shows your current position and the round’s progress.
Tips for Trading
Start with lower leverage (3x or 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.
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.
Next Steps
