Degen mode

500x, 750x, or, 1001x Leverage. 0 open position fees. 0.01% slippage.

The Degen trading mode offers traders high-leverage perpetual trading. During periods of high volatility, traders can maximize their gains with high leverage and extremely low fees. In low volatility, traders can speculate on minor price movements.

Degen trading mode is currently available for BTC/USD, supporting a maximum leverage of 1001x for both long and short market orders. Traders just need to connect and wallet and input a collateral amount before opening a position. There is 0.01% slippage for BTC/USD.

Degen mode features

• Lower price slippage

In Degen mode, enjoy 0.01% slippage for BTC/USD. For lower leverages, trading pairs have either a fixed or dynamic slippage.

• 0 opening fees

In Degen mode, trading fees do not apply for opening orders. For classic trading pairs and leverage <500x for BTC/USD, 0.08% trading fees are applicable.

• Dynamic closing fee for Degen mode

A dynamic PnL fee will be applied for closing positions. This fee is designed to charge fees based on PnL and protect users from losses. For more information, please check here.

• Unable to add margin to positions

Unlike lower leverages, traders currently cannot add margin to open positions in Degen mode. Traders are advised to monitor the risks and practice responsibility while trading.

Liquidation

Liquidation price distance = Entry price * (Initial margin * Liquidation lost rate + Accumulated funding fee) / Initial margin / Leverage

Liquidation price

• Long: Entry price - Liquidation price distance

• Short: Entry price + Liquidation price distance

Definitions

• Entry price is the price at which the trader opens a position

• Initial margin is the user's initial collateral used as margin

• Liquidation lost rate is the forced liquidation lost rate. The default value is 60%.

• Leverage is the user's selected leverage multiple

How to trade Degen

Access Degen mode from 1001x. Select a leverage of 500x or higher to enter Degen mode.

Connect your wallet, enter your collateral amount, and select a leverage. Click on Advanced to choose a take profit/stop loss.

The max net profit ROI will be around 500% for 500x and 750x, and 300% for 1001x.