> For the complete documentation index, see [llms.txt](https://wickdottrade.gitbook.io/wick/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://wickdottrade.gitbook.io/wick/trading/perps.md).

# Perps

## Overview

Perpetual futures lets traders speculate on price movements without owning the underlying asset. Wick gives you access to fast, on-chain perps trading built on Hyperliquid, with up to 40x leverage on some assets.

With Automatic Collateral Management (ACM), your USDC automatically moves where it’s needed, so you can trade Perps markets instantly without moving funds.

#### **Key Features**

* **Leverage:** Trade with up to 40x leverage
* **No expiry:** Keep positions open as long as your margin allows
* **Long or short:** Profit from rising or falling prices
* **Isolated margin:** Each position is managed independently

***

#### **Placing a Perps Trade**

1. Open the **Markets** tab from the bottom menu
2. Select **Perps**
3. Choose your asset
4. Press **Trade** button
5. Use the slider or input box to select position size and leverage
6. Optionally set a limit price for the order
7. **Hold** to submit your order


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