Perps

Perps are perpetual futures. You hold a position with leverage, long or short. Mage runs perps on Lighter, a non-US venue.

Leverage multiplies your losses as well as your gains. A leveraged position can be liquidated. Trade with money you can afford to lose.

Your perps account

Your perps account is separate from your wallet. It holds its own collateral. An empty wallet does not block perps, and your perps balance does not appear in your wallet balance.

Set up perps

Setup takes two steps. No card is involved.

set up perps

Send at least $20 USDC on Base to: 0x918D…410B1

Once it lands, say “set up perps” again and I’ll finish the setup.

Recorded from a live agent run · 2026-07-27 · address shortened

Mage answers with a USDC deposit address on Base and names the amount to send. The suggested first deposit is $20. Send at least the amount Mage names, because a smaller amount does not credit. Then say "set up perps" again and Mage completes the setup.

Add collateral

There are two routes. Send USDC on Base to your deposit address, or move USDG from your Robinhood Chain wallet.

fund perps with $10

The minimum top-up from Robinhood Chain USDG is $6. Mage bridges the USDG in one leg. The collateral appears about 2 to 3 minutes after the bridge fills, and Mage texts you.

Open a position

open a $100 eth long

short sol with $50

You give the size in dollars and the side. Mage derives the leverage from your collateral and shows it on the card. Leverage is capped at 10x.

The card shows the side, the size in tokens and 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. Ask for a market by name to see if it is live.

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 your positions

show my positions

For each open position Mage returns the symbol, the side, the size, the average entry, the mark price, the notional, the unrealized and realized PnL, the liquidation price, and the margin mode. It also returns your free collateral.

Close a position

close my eth position

close 50% of my sol perp

A close is a percent, from 1 to 100. It is reduce-only, so it can never flip your side. The card shows the realized result of the share you close.

A receipt links to your account page on the venue. Perps have no per-trade page there.

Withdraw

withdraw my perps balance

Close every position first. An open position stops the withdrawal.

❌ Close your open perp positions first, then withdraw.

The money lands as USDG on Robinhood Chain, in your own wallet, in about 1 to 3 minutes. Mage texts you when it lands.

The withdrawal has a venue fee and a small bridge fee. The card shows the exact fee and the exact amount you receive before you confirm. The minimum withdrawal is at least $5. Mage raises the minimum when the venue fee is higher.

The venue fee is flat. A small withdrawal therefore costs a large share of the amount. Withdraw in fewer, larger amounts.

Perps cash cannot be sent out

You cannot send perps cash to an external address. Withdraw it to Robinhood Chain first. Then send it from your wallet. See Send crypto out.

What perps cannot do yet

Mage opens and closes at market only. There is no stop-loss, no take-profit, no limit order, and no funding-rate display.

On this page