Degen Mode
500x, 750x, or, 1001x Leverage. 0 open position fees. 0.01% slippage.
Degen 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 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 a wallet and input a collateral amount before opening a position. There is 0.01% slippage for BTC/USD.
Degen Mode Features
Lower price slippage
0.01% slippage for BTC/USD. For lower leverage, trading pairs have either fixed or dynamic slippage.
0 opening fees
Trading fees do not apply for opening orders. For classic trading pairs and leverage <500x for BTC/USD, 0.08% trading fees apply.
Dynamic closing fee
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.
Unable to add margin to positions
Unlike lower leverage, traders currently cannot add margin to open positions in Degen Mode and are advised to proceed cautiously and assess risk before opening positions.
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 tab.
Connect your wallet, enter your collateral amount, and select a leverage.
Click on Advanced to select take profit/stop loss thresholds.
The maximum net profit ROI will be around 500% for 500x and 750x, and 300% for 1001x.
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