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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:

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Direction

Choose your position based on your price prediction:

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Leverage

Leverage multiplies both your potential gains AND losses. PerpCord offers four leverage tiers:
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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Whale Tax (Soft Cap)

To keep the leaderboard competitive, oversized trades from large balances get diminishing returns:
  • Balances at or below 20,000 coins: no cap, your full size counts
  • Balances above 20,000 coins: max effective trade size is min(30% of balance, 75,000)
  • Anything you bet above that cap only counts at 25% for PnL purposes
You can still place the trade — but the effective size used in PnL calculations is reduced. This is applied automatically and silently.

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Profit & Loss Calculation

Your PnL (Profit and Loss) is calculated when the round settles:

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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: 10x
Example 2: Losing SHORT Trade
  • Entry Price: $1.00
  • End Price: $1.01 (1% increase)
  • Size: 500 coins
  • Leverage: 100x

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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:
This shows your current position and the round’s progress.

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Profit Boosts (Charges)

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, and unused charges expire after 2 hours. Boosts only multiply your profits; they have no effect on losing trades.
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

Daily Features

Wheel spins, quests, Pepe traps, and potions

Badges

Earn badges for your trading achievements

Leaderboard

Compete for the top spot