Data as of October 1, 2026. Perpetual contracts are complex instruments and may be liquidated rapidly. Funding rates and mark prices change without notice. Leverage magnifies gains and losses. Fees, network costs, and slippage reduce returns. Past performance is not indicative of future results.
Before starting, make sure you’ve created and funded your account. If you’re new to the concepts here, read our guides on perpetual trading and on leverage and liquidation first.
How do you choose a perpetual market?
Click Markets at the top of the page to see all available perpetual markets. Each shows its maximum supported leverage — for example, eligible BTC and ETH markets currently support up to 50×, while eligible tokenized stock markets generally support up to 20×. Click a market (such as SPYx Perpetual) to open its trading page.
What is the difference between Portfolio and Isolated Margin?
Your first decision is margin mode:
Portfolio Margin
Eligible account balances support all positions together A loss in one trade can affect others More flexible use of account value
Isolated Margin
Each position uses its own assigned margin A loss is contained to that position Easier to understand risk per trade
With Portfolio Margin, your eligible balances — including supported spot assets — work together to support your positions, but a large loss in one can reduce the margin available to others. With Isolated Margin, each position uses its own assigned margin, so if one trade is liquidated, only that position’s margin is affected. Nado currently allows one isolated position per market, and isolated positions use USDT0 as margin. For beginners, Isolated Margin is often easier to understand.
How do you choose leverage and direction?
Select a preset leverage value or enter a custom one. Remember: higher leverage creates a larger position from the same margin, and liquidation can happen sooner. Then choose your direction — Buy / Long if you expect the price to rise, Sell / Short if you expect it to fall.
How do you place a market order?
A market order opens your position immediately at the best available price. Check your Available Margin (the balance that can support a new position) and Order Size (the total position value). Because of leverage, the maximum position size is larger than your available margin. As you set the size, Margin Required updates to show how much of your balance will support the position.
Before placing the order, review the Estimated Liquidation Price — the estimated price where your position could be liquidated. This is only an estimate; the actual point depends on your balances, margin mode, fees, and funding. When ready, click Place Buy Order.
If this is your first perpetual trade, you’ll be asked to enable One-Click Trading. Click Create Key and enable it — this only needs to be done once.
How do you place a limit order?
Instead of buying immediately, a limit order enters only when the market reaches a price you set. Type your desired price or click a level on the chart, set your size, and place the order. It appears under Open Orders and fills automatically when the market reaches your price. You can edit or cancel it before it fills.
How do you review your position after trading?
Your open position appears below the chart with:
Position Value — the total size of your trade
Entry Price — where your position opened
Mark Price — the current price used to calculate profit and loss
Estimated Liquidation Price — updates as your position changes
Unrealized PNL — profit or loss if you closed right now
You’ll also see a Funding Rate on the trading page — a payment unique to perpetual markets, covered in a separate guide.
Key takeaways
Choose a market, then set margin mode, leverage, and direction.
Portfolio Margin shares collateral across positions; Isolated Margin contains risk per position.
Market orders fill immediately; limit orders wait for your chosen price.
Always check the Estimated Liquidation Price before placing an order.