> For the complete documentation index, see [llms.txt](https://docs.bbx.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.bbx.com/business/on-chain-perpetual-trading.md).

# On-chain Perpetual Trading

## On-chain Perpetual Trading

BBX DEX offers perpetual contracts margined and settled in USDT. Users can open long or short positions to gain price exposure to a reference asset. Perpetual contracts are derivatives: trading a contract linked to a stock, ETF, or index does not mean buying or holding the underlying shares, ETF units, or index constituents, and does not grant shareholder rights.

### How perpetual trading works

* **Long and short positions:** Subject to the order types available on the trading page, users can open long or short positions and manage existing positions by reducing or closing them.
* **Margin and leverage:** Perpetual contracts use margin. Selected stock-related contracts support leverage of up to 75x, but available leverage varies by contract, account, and risk tier. Check the limit and risk parameters shown on the specific contract page. Leverage amplifies both gains and losses.
* **Funding rates:** Holding a perpetual position may involve funding payments. Check the contract page for the current funding rate, settlement time, and payment direction.
* **Prices and liquidation:** Review the index price, mark price, margin requirements, and liquidation rules before trading. Price movements or insufficient margin may result in liquidation.
* **Trading hours:** Contracts can be traded on BBX DEX while they are available. Check the trading page for the current market status, order-book depth, and availability.

### Markets and contract availability

BBX DEX offers USDT-margined perpetual contracts linked to U.S. and Hong Kong equities, Korean equities, ETFs, global indices, commodities, cryptocurrencies, and other on-chain assets. The following are representative examples:<br>

* **U.S. and U.S.-listed assets:** Apple (AAPL), NVIDIA (NVDA), Tesla (TSLA), Amazon (AMZN), Alphabet (GOOGL), AMD (AMD), Palantir (PLTR), Strategy, formerly MicroStrategy (MSTR), Robinhood (HOOD), Circle (CRCL), TSMC (TSM), Intel (INTC), Nebius (NBIS), Sandisk (SNDK), Marvell (MRVL), Applied Optoelectronics (AAOI), Qualcomm (QCOM), SoFi (SOFI), Toyota (TM), and PDD Holdings (PDD).
* **Hong Kong and related market assets:** Tencent (TENCENT), Zhipu (ZHIPU), MiniMax (MINIMAX), and the SHEIN Pre-IPO perpetual (SHEIN).
* **Korean equities and related ETFs:** SK hynix (SKHYNIX), Samsung Electronics (SAMSUNG), and the KODEX 200 ETF-linked perpetual (KODEX200).
* **Global indices:** S\&P 500 (SPX500) and Nasdaq-100 (NASDAQ100).
* **Global market ETFs:** QQQ, SPY, TQQQ, SQQQ, EWY, EWJ, EWT, KWEB, SOXL, DRAM, TMF, TBT, GGLL, and KSTR.
* **Commodities and precious metals:** Crude oil (WTIOIL), gold (GOLD), and silver (SILVER).
* **Cryptocurrencies:** Bitcoin (BTC), Ether (ETH), and Solana (SOL).<br>

The KODEX200-linked perpetual tracks the price performance of the KODEX 200 ETF. It is not a direct trade in the KOSPI 200 Index and does not represent ownership of ETF units. SHEIN is a Pre-IPO perpetual; it does not represent ownership of SHEIN equity or any future listed shares.

These are examples, not a complete or real-time list of tradable contracts. Contracts may be added, suspended, or have their specifications changed. Check the [BBX live markets page](https://dex.bbx.com/market) and the specific contract page to confirm the exact trading pair, market status, quote and margin assets, order book, maximum leverage, and risk parameters. Trading access also depends on the user's account and location. A contract appearing on a public page does not mean it is available to every user.

You can also visit the [BBX DEX perpetual trading page](https://dex.bbx.com/zh-Hans/futures/trade/nvda_usdt) to view the NVDA contract and select another market. Supported contracts, contract specifications, and availability are subject to what is displayed on the trading page.

### How to place an order

1. Open the BBX DEX perpetual trading page, select a contract, and check its name, trading status, and available margin balance in your account.
2. Choose an order type in the trading panel. Set the order price where applicable, leverage, and quantity. A market order does not require a limit price.
3. Review the order side, quantity, and other details, then select **Buy/Long** or **Sell/Short** to submit the order.
4. Once the order is filled, monitor the position, mark price, funding rate, and liquidation risk in the positions panel. Use the available controls to reduce or close the position when needed.

Perpetual trading involves leverage, funding payments, and liquidation risk. Review the rules and charges shown on the trading page before placing an order, and size positions according to your risk tolerance.