The perpetual futures order book is designed for faster order entry and gives you visibility into market activity at different price levels.

The order book displays real-time Level 2 market data for a perpetual futures contract. It shows the prices where other traders are willing to buy or sell, along with the size of orders at each price level.

• Prices are shown in the center of the screen at different levels, with size at each price. You can pinch to zoom in and out to change the price increment.
• Selecting a price level prepares a limit order at that price.
• Market orders can be submitted using the order controls at the bottom of the screen.

The order book updates in real time as market activity changes. Price levels may move as new orders enter the market or existing orders are filled.

If the last traded price moves off the screen, a banner appears. You can tap on this to quickly return to the latest traded price.

If you have an open position, you can also switch the ladder view to display estimated position P&L at each price level instead of price.

You can place a market or limit orders directly from the order book.

Place a market order

1. From the Perpetuals detail page (PDP):

• Select the order book icon on the side of the Long and Short buttons, or
• Select Trade → Order book

2. Select the order size, margin mode, and leverage button to adjust your order settings
3. Select Long MKT or Short MKT
4. On the prefilled order form, select Add to add take profit and stop loss orders (optional)
5. Select Review
6. Review order details and swipe up to submit

Place a limit order

1. From the Perpetuals detail page (PDP):

• Select the order book icon on the side of the Long and Short buttons, or
• Select Trade → Order book

2. Select the order size, margin mode, and leverage button to adjust your order settings
3. Select the price that you want to use for your limit price

• Select Long LMT or Short LMT based on whether you are trying to go long or short

4. On the prefilled order form, select Add to add take profit and stop loss orders (optional)
5. Select Review
6. Review order details and swipe up to submit

The default time in force (TIF) for limit orders is set to Good til canceled (GTC). You can edit the default TIF in the Order book settings.

Auto-send lets you submit orders in fewer steps. When turned on, orders are sent immediately after you review your order details and select Submit, without needing to leave the order book and navigate to the trade flow. This removes the order form and review screens so you can submit orders faster. Currently, when auto-send is on, take profit and stop loss orders can’t be added while placing the order.

Turn on auto-send

1. In the order book, select Settings
2. Toggle Auto-send on

Once you turn auto-send on, all orders will be placed on the order book. You can turn off auto-send at any time.

Review order details

You can still review all the same order information before you submit. Once you select Long or Short, you can view the estimated margin requirements and fees. To view the estimated liquidation price and full breakdown of the order, select View order details. You can swipe up to submit your order or return to the order book to submit.

Manage positions from the order book

If you have an open position, you can manage it directly from the order book.

View positions

When you have an open position, the order book displays your position P&L and pending orders.

Close positions and cancel pending orders

To close a position and cancel any associated pending orders for that position:

1. Select the cancel icon (Ø)
2. Review close order details, select Submit

You can also cancel a pending order by selecting the order and swiping it to the side.

Perpetual futures are complex derivative products, and trading involves significant risk and is not appropriate for all investors, particularly for perpetuals referencing crypto assets which experience volatile price movements. Further, leveraged trading is risky as it can amplify the speed of your losses and increases the chance of you losing all of your initial investment. Please carefully consider if investing in such financial instruments is appropriate for you in light of your specific experience, risk tolerance, and financial situation. Restrictions and eligibility requirements apply.