MagePerps
Go long or short by text. Mage works out the leverage and shows it on the card.
Perps are perpetual futures. You hold a position on a market and you pick a side: long if you think the price goes up, short if you think it goes down.
You never type a leverage multiple. You give the size in dollars and the side. Mage divides that size by your collateral, and that ratio is your leverage. It is capped at 10x. Mage shows the number on the card before you confirm, and again on the fill.
Perps run on Lighter, a non-US venue. Your perps account holds its own collateral, so it is separate from your wallet. An empty wallet does not block a perp.
Leverage multiplies your losses as well as your gains. A leveraged position can be liquidated, and a liquidation takes the collateral behind it. Trade with money you can afford to lose.
Fund it
Perps collateral does not come out of your wallet balance. You move money into the perps account first. One route moves USDG from your Robinhood Chain wallet, in one leg, on one "yes".
The minimum top-up on this route is $6. You set the account up once before any of this: say "set up perps" and Mage returns a USDC deposit address on Base. See Perps for the full setup and both funding routes.
Open a position
Name the market, the side, and the dollars. That is the whole order.
Here $100 of ETH sits on about $20 of collateral, so the position is roughly a 5x long. You never named the 5x. Mage works it out and puts it on the card.
The card carries the side, the size in tokens and in dollars, the entry price, the leverage, and an estimated liquidation price. The liquidation row reads "None" when your collateral fully backs the position. Markets include ETH, BTC, SOL, DOGE, HYPE, XRP, SUI, WIF, PEPE, and LINK.
Every order is a market order with a 1.5% price bound. In a fast market the order can go unfilled instead of filling far from the price on the card. Each market also sets its own minimum order size.
Check and close
Ask for your positions at any time. A close is a percent, from 1 to 100, and it is reduce-only, so it can never flip your side.
Entry $3,410 · mark $3,642
Unrealized +$6.80 · liq $2,890 · cross
Free collateral: $19.74
The receipt links to your account page on Lighter. Perps have no per-trade page there, so the link shows the position and the fill history instead.
Mage opens and closes at market only. There is no stop-loss, no take-profit, and no limit order yet.
Cash out
Close every position first, then say "withdraw my perps balance". An open position stops the withdrawal. The fee is read live for each withdrawal, so the card shows the exact fee and the exact amount you receive before you confirm.
The money lands as USDG on Robinhood Chain, in your own wallet, in about 1 to 3 minutes. Perps cash cannot go straight to an outside address — withdraw it first, then send it from your wallet.