Placing a perps trade on fomo is how you open a position on whether an asset's price will go up or down. A market order fills immediately at the best available price.

You pick the asset, the direction, the leverage, and the size, then place the order. The order opens your position right away. The app remembers the last order type you used, so check it reads Market before you place the trade. Limit and TWAP orders are covered in Order types on perps: Market, Limit and TWAP.

Start by selecting the asset you want to trade. The available markets are every market on Hyperliquid and on trade.xyz. Choose your direction. You go long if you think the price will go up, or short if you think it will go down.

Next, set your leverage. Leverage on fomo is selectable in whole numbers (1x, 2x, 3x, and so on), and the maximum varies by asset. The leverage article digs into how it works and how it shapes your risk. Then enter the amount you want to trade. The minimum position size is 15 USDC notional.

The order screen shows your estimated liquidation price, the level the mark price would have to reach for the protocol to close the position. On mobile, tap the details row to see the estimated fill price, the fee and the margin used. On the web, the fee and estimated margin sit under the order button.

There is no separate confirm screen. On mobile you place the order by sliding the Long or Short slider. On the web you click the Long or Short button once and the order is placed.

Once you place it, the order fills at the best price available and the position shows up in your open positions with a live profit and loss display.

From there you can monitor the position, set take profit or stop loss levels, close the position at any time, or close at a target price instead: tap Close position, switch the order type to Limit, and place the limit close. On an isolated position you can also add or remove margin.

The take profit and stop loss article covers how to set those triggers. The About section of each market page lists its mark price, oracle price, mid price, open interest and funding rate.

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 shown the first time you place a perps trade.

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.