> For the complete documentation index, see [llms.txt](https://docs.defined.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.defined.fi/defined-docs/readme/discovery-and-search/perps.md).

# Perps

Discover perpetual contracts and trade with leverage using Hyperliquid.

Access Hyperliquid's perpetuals market directly from Defined. Trade with leverage, manage positions, and view real-time market data all in one interface.

<figure><img src="https://1684109365-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F-MVOXpj9hcGfNWdz-V48%2Fuploads%2Fgit-blob-4afd103306867538065a8debcb96cf2718b58889%2FPerpetuals%20dashboard.png?alt=media" alt=""><figcaption></figcaption></figure>

#### Discovering Perpetual Assets

Add a **Discover Perpetual Assets** panel to browse available contracts (or use our [defaults](https://defined.fi/boards?utm_source=defined\&utm_medium=docs\&utm_campaign=perps)). Filter by:

* **Trending** - Most active contracts by volume
* **Watchlists** - Your saved perps
* **Asset type** - Major crypto assets, altcoins, and more

Click any asset to view its perpetual chart, order book, and trading interface.

#### Trading Perps

Add these panels to trade perpetuals:

* **Trade** - Execute market and limit orders with leverage
* **Perpetual Chart** - Interactive chart with real-time data
* **Order Book** - Live order book and recent trades
* **Positions** - Manage open positions with real-time P\&L
* **Open Orders** - Track and cancel pending orders

#### Understanding Leverage

Perpetuals allow you to trade with leverage, meaning you can control larger positions with less capital. Higher leverage means higher risk;your position can be liquidated if the market moves against you.

Start with lower leverage (2x-5x) until you're comfortable with how perps work.