# Trade Perps

Perps (short for perpetual contracts) let you trade on crypto price movements without owning the tokens. They don’t expire, so you can hold positions as long as you maintain their margin requirements.

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## Fund Your Perps Account

Your perps account balance is kept in another wallet. This protects assets that you don't specifically allocate to perps trading from being liquidated. You can easily transfer funds to your perps account from your other wallets.

## Make a Trade

Using funds in your perps account, you can take a long[^1] or short[^2] position on any supported token.

You can leverage your position for greater exposure. This amplifies gains and losses.

## Manage Your Positions

Track your open trades in real time from the Perps dashboard. Adjust leverage or close your position at any time.

The price of a perp follows the token’s spot price. If it drifts too far, a small funding payment helps bring it back. When the perp price is higher than spot, longs pay shorts. When it’s lower, shorts pay longs.

Your positions each display a **Liquidation Price** (a value at which your positions are closed to cover losses). Avoid liquidation with trading tools like TP and SL prices.

[^1]: bet on the price going up

[^2]: bet on the price going down