> For the complete documentation index, see [llms.txt](https://dyorhq.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://dyorhq.gitbook.io/docs/perpetuals/placing-orders.md).

# Placing Orders

**Where:** Trade tab → Perps → **Trade** view.

<figure><img src="https://2315413579-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2Fn3ZLa5CyOGEcKzuTuITR%2Fuploads%2Fgit-blob-f0d0d3ce4a9ccc988ae4e59be05f5b5200982da9%2Fdevice-mockup_1.5x_postspark_2026-09-27_15-12-37.png?alt=media" alt=""><figcaption></figcaption></figure>

## The order ticket, top to bottom

1. **Isolated** chip: the margin mode. Perpl only offers isolated margin, so it's fixed.
2. **Leverage button** ("2x" by default): opens **Adjust Leverage** with a draggable ruler from 1× to the market's maximum, quick picks **2x / 5x / 10x / Max**, and **Confirm**. Your default comes from Profile → Trading Preferences → **Default Leverage** (stepper 1–50; the market cap still wins).
3. **Available X AUSD** with a **+** to deposit.
4. **Order type**: **Market** ("Execute immediately at current price") or **Limit** ("Set a specific price for your order").
5. **Price** (limit only) with a stepper, and a **Last / Mid** pill that fills the field with the last traded price or the mid of the book.
6. **Amount** with a stepper and a unit toggle: size in the asset (e.g. BTC) or in **AUSD** (converted at the current price).
7. **Percent-of-margin slider** with stops at 0 / 25 / 50 / 75 / 100%. Size = available × percent × leverage ÷ price, rounded down to the lot size.
8. **Flags**:
   * Market: **Max Slippage** (reveals a % field, default from Settings, 0.5% out of the box) and **TP/SL**.
   * Limit: **TP/SL**, **Post-Only**, **Reduce Only**.
9. **Take profit** / **Stop loss** fields (USD) with expected profit / loss rows.
10. Summary: **Liq. if long** and **Liq. if short** ("Unknown" when the market's maintenance margin can't be read), **Max** (available × leverage), **Fee** (≈ 0.069% of notional).
11. **Long** / **Short** buttons.

## Market orders

A market order is sent as an immediate-or-cancel limit at the mark price ± your slippage, exactly as Perpl's own interface does it. Whatever can't fill inside that band is cancelled, never filled worse.

## Limit orders

Rests on Perpl's book at your price. **Post-Only** guarantees you're the maker (the order is rejected instead of crossing the book). **Reduce Only** guarantees the order only reduces an existing position. Both are limit-only and clear when you switch to Market.

## Take Profit / Stop Loss

TP/SL set on the order ticket are **keeper-managed triggers sized to this order**, and they need [One-Click Trading](/docs/perpetuals/one-click-trading.md). Their size is fixed when they're placed: they don't grow if you add to the position later. To protect a whole position, use **TP/SL** on the position card (see [Managing Positions](/docs/perpetuals/managing-positions.md)). The status line under the fields tells you where you stand:

* *Placed on Perpl as keeper triggers that close this order's size (\<order size>). The size is fixed: they don't grow if you add to the position later.* If you already have a position on that market: *Placed on Perpl as keeper triggers that close this order's size only (\<order size>), not your whole \<position size> \<ASSET> position. For all of it, use TP/SL on the position.*
* *Connecting to Perpl trading to place your take-profit and stop-loss.*
* *Connect Perpl trading in Profile to place take-profit and stop-loss.* / *Enable one-click trading in Profile to place take-profit and stop-loss.*
* *Couldn't reach Perpl trading, retrying. Take-profit and stop-loss need it live.*

Rules: for a long, take-profit must be above entry and stop-loss below; for a short the reverse. The app checks this and tells you which side is wrong. Take profit triggers on the **Last** price; stop loss triggers on the **Mark** price.

If you place TP/SL without One-Click Trading, the position opens but the confirmation shows **"TP/SL: Needs one-click trading, not placed"**.

## Confirming

Tap **Long** or **Short**.

* **With One-Click Trading:** the **Place Order** sheet ("Review Order · Perpl") lists Market, Side, Type, Size, Leverage, Margin, Take profit, Stop loss, then *"Signed and forwarded by your Perpl API key over the trading connection."* You'll see "Order sent to Perpl." on success. If the order went through but Perpl didn't accept a trigger, the sheet says so and tells you to set it with **TP/SL** on the position, or for a limit order, once it fills. If Perpl didn't confirm a trigger either way, the sheet tells you to check Open Orders before placing it again.
* **Without:** the **Review Order** sheet with Market, Side, Type, Size, Leverage and Margin rows (plus the TP/SL warning if you typed triggers), confirmed with **Long \<ASSET>** / **Short \<ASSET>** and signed as an on-chain transaction from your wallet.

With **Require Face ID** on, every order asks for Face ID first: on-chain orders before signing, and One-Click orders ("Confirm order") before they're forwarded.

## Validation messages

| Message                                                                             | Fix                                        |
| ----------------------------------------------------------------------------------- | ------------------------------------------ |
| Deposit AUSD to open a trading account first.                                       | Make your first deposit (10 AUSD minimum). |
| Enter an amount in AUSD. / Enter a size in \<ASSET>.                                | Fill the amount.                           |
| Enter a limit price.                                                                | Fill the price on a limit order.           |
| Not enough available margin.                                                        | Reduce size or leverage, or deposit more.  |
| Take-profit must be above your entry (X) for a long. (and the other three variants) | Move the trigger to the correct side.      |

## Funding

The ticket shows **Funding (1h)** and a countdown to the next settlement. Positive funding: longs pay shorts; negative: shorts pay longs. It's paid or received on your open position each hour.


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