QuickPerps DEX Perpetuals Referral Code Trading Fees Review
QuickPerps Referral Code Trading Fees Summary
- Get 5% discount on all trading fees with our referral code in QuickPerps.
- QuickPerps charges 0.1% trading fees for opening and closing a position.
- QuickPerps is a decentralized perpetual exchange on Polygon zkEVM.
- On QuickPerps, you can trade perpetual contracts with leverage of up to 50x
- Some key features are auto-compounding rewards, no price impact, and cross-usable collateral.
Referral Code: cointrade -5% in trading fees
What is QuickPerps?
QuickPerps, an innovation by QuickSwap, emerges as a state-of-the-art decentralized Perpetual Exchange, embedded in the robust infrastructure of Polygon zkEVM. It is a testament to the power of Polygons groundbreaking security measures, impressive scalability, and more.
QuickPerps aims to fill a gap in the DEX perpetual trading since, in traditional finance, derivatives account for 9095% of all global trade in CEXs, its around 90%, and in DeFi, its around 3050%, but increasing.
The Decentralized Perpetual Exchange offers expansive trading features and profound liquidity for endorsed cryptocurrency assets. Users can now:
- Engage in perpetual swap contracts with leverage of up to 50x.
- Execute spot trades using both market swaps and limit orders.
QuickPerps is forging its path to be a dominant force on the Polygon zkEVM, upholding the principles of decentralization and ensuring self-custody for cryptocurrency enthusiasts.
QuickPerps key features:
- No Price Impact: Users can open and close derivative positions without impacting the underlying price. There is no slippage because of the deep liquidity offered by the QuickPerps $QLP pool.
- Compound Function: When users earn rewards, they are auto-compounded (reinvested) into the main liquidity pool.
- Cross-Usable Assets: You can open leverage positions for one token using another as collateral.
- TradingView Pro: With QuickPerps, you can access advanced trading charts and analytics.
- Pyth Price API & API3 Oracles: QuickSwaps Perpetual Exchange employs advanced, real-time price and data feeds to provide an ultra-smooth trading experience.
- Live Decentralized Charting: Access live charting with only 1- to 2-second latency.
- Unilevel Referral System: A Subgraph will be implemented for a Unilevel referral system.
- Fee-Sharing Model: Swap aggregators will benefit from a fee-sharing model where QuickSwap tracks and reimburses a portion of collected fees from the 1-inch DEX aggregator.
QuickPerps, backed by QuickSwap, is not just about trading. Its about revolutionizing the trading experience, offering a holistic, decentralized platform with a user-friendly and dynamic interface.
QuickPerps Trading Fees
QuickPerps charges 0.1% trading fees for opening and closing a position. These fees are the same as GMX DEX, as seen in the GMX review.
A Borrow Fee is deducted at the start of every hour. This is the fee paid to the counterparty of your trade.
The fee per hour will vary based on utilization; it is calculated as follows:
(assets borrowed) / (total assets in pool) * 0.01%.
QLP Pool
QLP is QuickPerps Liquidity Provider (LP) token that helps power the decentralized Perpetual Exchange.
Rewards Summary:
QuickPerps Liquidity provider token QLP earns WETH when held in your wallet.
QuickPerps Liquidity
A Comprehensive Guide to Trading on QuickPerps
QuickPerps Getting Started
Connecting Your Wallet: Begin by linking your wallet to QuickPerps. The process is straightforward and doesnt require KYC. Just click on the Connect Wallet button at the top right.
Opening a Position:
- Select a currency in Zone 1.
- In Zone 2, decide on a Long (expecting the price to rise) or Short (expecting a decline).
- Click Zone 3 to finalize your payment method. Input the amount you wish to trade, then adjust your leverage using the Leverage Slider.
Trading Fees: Opening a position incurs a 0.1% trading fee. Similarly, a 0.1% fee is charged upon closing. Theres also an hourly Borrow Fee, which varies depending on utilization.
Understanding Slippage: Slippage is the difference between the expected and execution price of a trade. In QuickPerps, its primarily due to time lapses between transaction submission and blockchain confirmation. Adjust your maximum slippage tolerance in the settings.
Managing Your Trades
- Viewing Positions: Find all your trades in the Positions tab under the trading chart. Enact the Chart Positions option to see entry and liquidation prices on the chart.
Modifying Collateral: By clicking the three dots in your open positions, you can deposit or withdraw collateral, impacting your leverage and liquidation price.
Closing Positions: Fully close a position with the Close button. To partially close, input an amount less than the maximum. You can even specify the payout currency.
Stop-Loss/Take-Profit: Set these by clicking the Close button and going to the Trigger tab. Note that these orders depend on market conditions and might not consistently execute.
Quickperps Liquidation
Partial Liquidations: If a trade turns unfavorable, theres a liquidation price where the loss approaches the collateral amount. Constantly monitor this, as high leverage and time can alter it. If liquidation occurs, any remaining collateral after covering losses and fees will be returned to your wallet.
Pricing Highlights
Trade Pricing: With QuickPerps design, trades, even sizable ones, have no price impact. Prices are displayed next to the market name and under the swap box. A distinct feature of QuickPerps is its minimal spread for trade entries and exits.
Master these steps, and youre well-equipped to navigate QuickPerps trading landscape.
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