# 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. *** ## 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 --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://nikafinance.gitbook.io/docs/trade-and-earn/trade-perps.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.