How can I use it? | PancakeSwap (2024)

Using this functionality is really easy (the difficult thing is to trade well). We will only have to follow a series of steps so that our experience is complete

Go to Perpetual Trading page

You can enter from the site, in the Trade → Perpetual section, or through this link

Deposit funds

You need to deposit funds into the Futures account first, in the box on the bottom right of the screen

USDT, BUSD, APX or CAKE (with bonus!) can be used as collateral to pay for the trade.

As mentioned, using CAKE for fees gives you a 5% discount! So, why not?

Note: The trading fees are 0.02% of the notional value for makers and 0.07% for the taker. CAKE will be the default payment option for trading fees, followed by APX (ApolloX’s token) and USDT. Any users who are paying the trading fees in CAKE will enjoy a 5% discount on trading fees.

Choose the pair to trade

You can select a tradable pair by clicking on the arrow next to the pair, at the top of the page.

More tradable pairs will come soon!

Analyze the chart and decide your trading strategy

It’s trading time!! Let’s get serious. You can analyze the chart your way, with all the tools available

Do you know how to do it or do you want to improve in your analysis?

Here is a guide to get started in the world of chart analysis:

• How to Use TradingView on Binance Website

• Candlestick charts

• Trend Lines Explained

Make your position

Then, in the upper right part you have the board to position your order.

Here you must set several parameters, like:

Not in an specific order

1. The Margin Mode: Cross or Isolated

2. The x of the leverage

Disclaimer: Remember that a high level of leverage carries a very high risk, use it wisely.

3. Type of Order

4. Place a price for your order.

Note: You can use “Last” to fill in with the current last price.

5. Set the order’s size

You can also choose the reference currency to see your position

Note: there are a few more options to consider, but you can see that within the trading glossary

Send your order

When all the parameters have been set, you can send the order by clicking on long, if it is a long order, or short, if it is a short order.

Checking your position

Once the order has been sent, it will appear in "Open Orders" until it is filled out.

Live!

When it is filled, your position will be live. You can see it in the positions panel. Also you can view, edit, or close it.

Good luck with your trades!