Step-by-Step Trading Tutorial
First, before you can open your first trade on Capy Perp, you will need a wallet that supports Kaia, KAIA tokens for gas fees, and stKAIA to open trades.
Capy Perp’s official web app: https://perp.capybara.exchange/
1. Connect Wallet
Capy Perp is now supporting the below wallet connections:
Kaia Wallet
Metamask
OKX Wallet
Phantom
WalletConnect
Click “Connect Wallet” in the top right corner.
2. How To Get Tokens
First up, you need to top up your wallet with KAIA tokens by (a) depositing from listing CEXs (@Binance for example), (b) buy with fiat on Kaia Portal or © bridge via Stargate and Wormhole.
Next, head to Lair Finance to liquid staking KAIA token and mint stKAIA. By holding stKAIA, you are earning 5% APY as staking yield in Kaia blockchain.
Now you’re all set to trade on Capy Perp.
3. Open Your First Market Orders
Select the pair you want to trade in the search bar. We are now supporting 47 crypto markets, and 14 Forex markets. More trading pairs will be listed in the future.
Choose Market order for your first trade. A market order is an order to immediately long or short at the best available price. If you want to go long or short instantly at the current market price, setting a market order is your best option.
For example, the price of BTC might be rising rapidly, and you want to long it ASAP. You’re willing to take the market’s price and pay the spread so as to ride the rise of BTC instantly. In this case, you’d make a market order on your chosen side.
Select long or short. (long → you’ll win when the price goes up, short → you’ll win when the price goes down).
Select your leverage by dragging the slide. The leverage level will multiply price moves (eg. 10x leverage means whenever the trading token moves 10% in price, you win 100%, but you’ll get liquidated at ~9% price move down = ~90% loss).
Select your collateral size — how much you want to risk (eg. a 10% favorable movement in price on an x20 leveraged with 50 stKAIA collateral means you win ~100 stKAIA).
Select your stop loss (SL) to close a trade automatically for a loss threshold eg. at ~10% unfavorable price movement at 10x, you can set no stop loss, but your trade will be liquidated (lose whole collateral) as it reaches a -90% loss.
Select your take profit (TP) to close a trade automatically for a profit threshold eg. at 20% favorable price movement. By default, an automatic take profit is set at 900% anyway, representing the maximum profit allowed on a trade.
Open your trade by clicking the “Approve” button at the bottom of the right panel.
View “Order details” to check the open price, spread, position size, fees and liquidated price before opening the trade.
Click on the “LONG” or “SHORT” button to place your order.
After a few seconds, a notification will show to confirm your trade was opened. You will also be able to see it in “Open Orders” below the chart.
💡 Important note: 1 stKAIA is virtually priced at 1 USD inside Capy Perp when you trade. Hence, when you withdraw your USD after trading, 1 USD would get you back 1 stKAIA.
💡 Pro-tip: As we embed the Tradingview chart on Capy Perp, you can edit the charts with any indicators you want or draw any trendlines to support your trading.
4. Use Limit and Stop Orders
You can change the order type in the trading panel on the right to “Limit”or “Stop”, choose the price at which you want your trade to be triggered, and click on “Approve” to place an order.
Adjust the price you want to trigger Limit or Stop orders.
Limit Order: To be used when you want to go long when the price goes lower than present or to go short if the price reaches a higher level than present. Your order will be executed if the price reaches the your set price + spread.
Stop Order: To be used when you want to go long if the price reaches a higher price than present or to go short if the price comes lower than present. The execution price is the current market price + spread. A stop order is not limited to closing a position; it can also be used to open one. As such, it is possible to use a stop order to enter a new position on the market, in addition to exiting an existing position.
You can see all your open limit/stop orders in “Orders” tab below the chart. You can view its full details on the table.
💡 Pro-tip: You might want to use Stop Order to put a long limit order above the current price to long a bullish breakout or short a bearish breakdown. A Limit Order and a Stop Order serve different purposes and should not be confused with each other. The former is an order to buy or sell an asset at a specific or better price, while the latter is triggered when a certain price level is reached and is used to pick up on an upward or downward trend.
5. Manage Your Trades
First, you will see all your open trades on all pairs in the “Open Orders” section. On each row of the table, you’ll see details of an open order.
💡 Note: Profit or loss is shown including the actual PnL, borrowing fee, funding fee and closing fee
You can edit your open trade by depositing more collateral or withdrawing collateral. Each action will lower liquidation price, decrease leverage or raise liquidation price, increase leverage.
To close an open trade without setting TP or SL, simply click on the cross in the right corner. This action will trigger a market close order at the current price.
Then, in the “Limit/Stop Orders” tab, you will manage all the Limit and Stop orders that are waiting to be triggered. You are free to adjust the TP/SL. If you want to cancel a limit order and get the stKAIA from the collateral back to your wallet (without fees), you just need to click the cross in the right corner.
You can adjust your SL and TP in open trades or orders anytime by filling in the price you want or selecting the percentage. The maximum TP is 900%, and the minimum SL is 10%.
All your closed trades are stored in the “Order History” tab. You can monitor how much you win or lose each trade and the fees you pay for it.
Lastly, you can share your PnL by clicking the "Share" button and copying the PnL card to post on your social media.
6. Monitor Capy Perp Statistics
On the “Analytics” page, you can view all the metrics.
The Summary tab shows trading statistics for the whole platform, including Trading Volume, cLP TVL, Current Open Interest, Total Trade Fees and Total Users.
👋 If you have any questions, don’t hesitate to discuss them in our Telegram community!
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