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V1 is built for speed. It removes the order book and advanced settings and keeps only what you need to open and manage a position. It runs on the Aster engine with up to 100x leverage on every market. V1 is also where you find Degen mode, which switches BTC and ETH trading to a separate engine with up to 1000x leverage.

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Open a position

1

Go to Perps and select V1

Open Trade → Perps and make sure the V1 interface is selected.
2

Pick a market

Choose the asset you want to trade, for example BTC, ETH or SOL.
3

Choose Long or Short

Long profits when the price goes up. Short profits when it goes down.
4

Set your margin

Enter how much collateral you want to put into the position, or use a preset size.
5

Set leverage

Drag the leverage slider, up to 100x. The panel updates the position size and liquidation price as you move it.
6

Add TP/SL (optional)

Set a take-profit price, a stop-loss price, or both. They close the position automatically when the price reaches them.
7

Confirm

Review the summary and confirm. The position opens at the current market price.

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The order summary

Before you confirm, V1 shows:

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Manage open positions

Open positions are listed below the chart. For each one you see size, entry price, mark price, unrealized PnL, margin and liquidation price. From the same row you can:
  • Close the whole position at market.
  • Close partially by choosing a percentage.
  • Add or edit TP/SL.
  • Share a PnL card.

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V1 or V2?

Use V1 if you want to place quick market trades with clear risk numbers and nothing else on the screen. Switch to V2 when you need limit and stop orders, the order book, cross or isolated margin, or detailed position controls. Both use the same positions, so you can switch at any moment.