Understanding Perpetual Contracts
Perpetual futures, commonly called “perps,” are a type of derivative that lets you speculate on the future price of an asset without actually owning it. Unlike traditional futures contracts that have an expiration date, perpetual contracts can be held indefinitely, giving traders flexibility in their positions. In the crypto world, perps have become one of the most popular ways to trade because they allow you to profit from both rising and falling markets through leveraged positions.How Perps Work
When trading perpetuals, you make a prediction about price direction:| Position | Your Bet | You Profit When | You Lose When |
|---|---|---|---|
| LONG | Price will rise | Price goes UP | Price goes DOWN |
| SHORT | Price will fall | Price goes DOWN | Price goes UP |
With perpetuals, you don’t need to own the underlying cryptocurrency. You’re simply betting on price movements, which is why it’s called “derivative” trading.
The Role of Leverage
Leverage is what makes perpetual trading both exciting and risky. It allows you to control a larger position than your actual capital would normally allow. For example, with 10x leverage and 1,000 position. This means your gains are multiplied by 10, but so are your losses. A 10% price move against you would wipe out your entire position (liquidation).| Leverage | Position Size with $100 | Liquidation Threshold |
|---|---|---|
| 10x | $1,000 | 10% move against you |
| 25x | $2,500 | 4% move against you |
| 50x | $5,000 | 2% move against you |
| 100x | $10,000 | 1% move against you |
Why Start with Paper Trading?
Perpetual trading is an exciting way to participate in crypto markets, and many traders find success with it. However, like any skill, it takes practice to develop good habits and strategies. Here’s why paper trading is a smart first step: Build Your Skills First: Understanding market dynamics, technical analysis, risk management, and trading psychology takes time. Paper trading lets you develop these skills without any financial pressure. Learn Leverage Mechanics: Leverage amplifies both gains and losses. Experiencing how quickly positions can move in a simulated environment helps you understand position sizing and risk management before committing real capital. Develop Emotional Discipline: Trading psychology is often the hardest part to master. Paper trading helps you recognize patterns in your own decision-making, like the urge to chase losses or overtrade after wins. Practice Makes Perfect: Even experienced traders use paper trading to test new strategies. It’s a valuable tool at any skill level.Why PerpCord is the Perfect Solution
PerpCord offers all the excitement of perpetual trading without any of the financial risk. Here’s why it’s the ideal way to learn and have fun:Risk-Free Learning
PerpCord uses real market data from CoinGecko, so you’re practicing with actual price movements. The only difference is that your money is virtual. This means:- Learn how leverage affects your positions in real scenarios
- Understand how quickly high-leverage trades can go wrong
- Develop your own trading strategies without financial consequences
- Build confidence before ever considering real trading
Competitive Fun
Trading alone can be isolating. PerpCord transforms trading into a social, competitive experience:- Leaderboards: Compete against other players for monthly rankings
- Badges: Earn achievements for milestones like win streaks, comebacks, and risk management
- Duels: Challenge friends to head-to-head trading battles
- Daily Quests: Complete objectives for bonus rewards
Community Experience
PerpCord runs directly in Discord, where you’re already hanging out with friends. Share your wins, commiserate over losses, and learn from other players in real-time.Accessible to Everyone
PerpCord is available to anyone with Discord. No account setup, no deposits - just jump in and start playing.PerpCord vs Real Perps Trading
| Feature | Real Perps Trading | PerpCord |
|---|---|---|
| Financial Stakes | Real money | Virtual coins only |
| Real Price Data | Yes | Yes (via CoinGecko) |
| Leverage Options | Varies by platform | 10x to 250x |
| Learning Environment | Live markets | Risk-free practice |
| Social Features | Platform-dependent | Leaderboards, badges, duels |
| Getting Started | Account setup required | Just type /perp join |
Who Should Play PerpCord?
PerpCord is perfect for: Curious Beginners: Want to understand what perpetual trading is all about? PerpCord lets you experience it firsthand without any risk. Aspiring Traders: Planning to trade real perps someday? Practice your strategies and build discipline with PerpCord first. Competitive Gamers: Love competition? Climb the leaderboards, earn badges, and prove you’re the best trader in your Discord server. Crypto Enthusiasts: Already into crypto? Add another layer of engagement by trading on real token prices with your community. Anyone Looking for Fun: Even if you never plan to trade real crypto, PerpCord is simply a fun game that combines strategy, luck, and competition.Getting Started
Ready to experience perpetual trading the safe way? It takes just seconds to start:Join the Game
Type
/perp join in any channel where PerpCord is active. You’ll receive 10,000 starting coins.Place Your Trade
Decide if you think the price will go up (LONG) or down (SHORT), choose your leverage and size, then trade!
Start Trading Now
Follow our complete getting started guide to place your first trade.
Frequently Asked Questions
Is PerpCord gambling?
Is PerpCord gambling?
PerpCord is a skill-based game that uses real market data. While there’s an element of chance in short-term price movements, successful players use strategy, risk management, and market analysis to consistently perform well. Most importantly, no real money is involved.
Can I lose real money on PerpCord?
Can I lose real money on PerpCord?
No. PerpCord uses virtual coins only. You cannot deposit, withdraw, or lose any real money. It’s purely for entertainment and learning.
Are the prices real?
Are the prices real?
Yes! PerpCord fetches live cryptocurrency prices from CoinGecko. You’re trading on real market movements, just with virtual money.
What happens if I lose all my coins?
What happens if I lose all my coins?
If your balance drops below 1,000 coins, you’ll be automatically reset to 10,000 coins so you can keep playing. You might even earn the “Comeback Kid” badge if you recover!
Should I use PerpCord to practice before real trading?
Should I use PerpCord to practice before real trading?
PerpCord is excellent for understanding the mechanics of leveraged trading and developing discipline. However, real trading involves additional factors like fees, slippage, and emotional pressure from real financial risk. If you’re considering real trading, do extensive research and never trade more than you can afford to lose.
Why is the maximum leverage 250x?
Why is the maximum leverage 250x?
PerpCord offers up to 250x leverage so you can experience high-leverage scenarios in a safe environment. It’s a great way to understand how leverage affects your positions before deciding what leverage levels you’re comfortable with.