On fomo your cash balance will be split into two separate pools. Your token cash balance holds USDC on Solana and is used for spot trading, deposits, and withdrawals. Your perps cash balance will hold a separate USDC balance dedicated to perpetual futures trading. These are two distinct pools that you move funds between as needed.
To fund your perps cash balance, transfer USDC from your token cash balance. Open your profile screen and tap the Transfer cash button. The transfer screen shows both balances side by side, with quick amount buttons (50, 100, 500, 1,000 dollars) and a percentage slider. The minimum transfer into your perps cash balance is 5 USDC. Transfers between your token cash balance and your perps cash balance are free and instant within the app.
Once USDC is in your perps cash balance, part of it sits as available margin and part of it gets committed as collateral to any open positions you have. The available portion is what you can use to open new positions or transfer back to your token cash balance. Margin currently committed to an open position cannot be moved out until that position is closed or reduced.
To move funds back, open the Transfer cash screen and transfer in the opposite direction. Only the available portion of your perps cash balance can be transferred out. If all of your USDC is committed as margin to open positions, you will need to close or reduce some positions first to free up funds. The minimum transfer out of your perps cash balance is 2 USDC.
If you want to withdraw funds from fomo entirely, the path is always the same. Transfer from your perps cash balance to your token cash balance, then withdraw from your token cash balance to your bank account or external wallet using the standard withdrawal flow. There is no direct withdrawal from your perps cash balance.
Perps are not available to U.S. Persons. By accessing perps, you confirm you are not a U.S. Person and are not accessing from within the United States via the attestation checkbox during onboarding.
For purposes of these Terms, a "U.S. Person" means: (i) any natural person resident in the United States; (ii) any citizen or permanent resident of the United States, including any such person temporarily located outside the United States; (iii) any entity organized or incorporated under the laws of the United States or any state thereof; (iv) any estate of which any executor or administrator is a U.S. Person; (v) any trust of which any trustee is a U.S. Person; (vi) any agency or branch of a non-U.S. entity located in the United States; (vii) any discretionary or non-discretionary account held by a dealer or fiduciary organized, incorporated, or (if an individual) resident in the United States; or (viii) any entity organized or incorporated outside the United States that is formed by a U.S. Person principally for the purpose of investing in unregistered securities or derivative instruments. "United States" means the United States of America, its territories and possessions, any state of the United States, and the District of Columbia.
Representations and Warranties. By accessing or using Perps functionality, you represent and warrant that: (a) you are not a U.S. Person; (b) you are not accessing Perps from within the United States; (c) you are not accessing Perps on behalf of, or for the benefit of, any U.S. Person; (d) you will not use any technology, mechanism, or technique (including a VPN, proxy, or similar tool) to circumvent or attempt to circumvent geographic restrictions on Perps; and (e) you understand that these representations are material and that Fomo is relying on them in providing you access to Perps functionality.