How to start trading on Aevo

1. Create an account

1. Aevo is a derivatives exchange on its own OP Stack Layer 2 that offers perpetual futures and options from a single margin account. source ↗
2. Connect your wallet and sign in once. Your main account belongs to that wallet, and you can create up to 10 subaccounts with separate balances and margin from the account menu, with no extra wallet needed. source ↗

2. Deposit collateral

1. Aevo has deposit contracts on Ethereum, Arbitrum, Optimism and Base. Ethereum deposits have no Aevo fee; Arbitrum and Optimism deposits include a dynamic 0.0001–0.0002 ETH fee for Aevo L2 gas. source ↗
2. Perpetuals settle in USDC. USDT, aeUSD, ETH, WBTC and weETH also count as collateral, at 99%, 100%, 90%, 90% and 85% of their value respectively. source ↗
3. Deposits go to your main account. To fund a subaccount, transfer to it from the main account. source ↗

3. Open your first position

1. The ETH perpetual is quoted in USDC, 1 contract = 1 ETH, with a minimum order value of 10 USDC, 5% initial margin (20x max leverage) and hourly funding. source ↗
2. Margin is cross-margin: all positions back each other. Before opening an order, your balance plus unrealized PnL must cover open orders, the new position's initial margin and the maintenance margin of existing positions. source ↗

4. Know how liquidation works

1. Liquidation starts when your balance, after open orders, no longer covers the maintenance margin of your positions. The liquidation engine takes over the account, cancels open orders, and reduces positions with limit orders every 2 seconds for up to 30 seconds. source ↗
2. Whatever the order book cannot absorb is traded with the insurance fund at a markup. If that is not enough, the most profitable traders are auto-deleveraged. source ↗
3. Liquidation fees are 1% for Tier 1 perpetuals, 3% for Tier 2 and 5% for pre-launch markets. source ↗
4. Mark price is the median of a fair order-book price and two index-based prices, so it can differ from the last traded price. source ↗

5. Withdraw

1. Withdrawals to Arbitrum, Optimism or Base take minutes depending on bridge congestion; withdrawals to Ethereum mainnet take 3 hours. Some withdrawals are randomly flagged for extra security checks and processed after 60 minutes. source ↗
2. Withdrawals to Arbitrum and Optimism are free. To Ethereum they cost 25 USDC, 25 USDT, 0.01 ETH or 0.0003 WBTC, taken from the amount withdrawn. source ↗
3. Funds can only leave Aevo from your main account. Transfer from a subaccount to the main account first, then withdraw. source ↗

6. Common mistakes

1. If your USDC balance goes negative (for example after realizing a perp loss) by at least 1 USDC, Aevo auto-converts your other collateral to USDC in a fixed order, with a conversion fee such as 0.10% for ETH and WBTC. source ↗
2. A withdrawal is allowed only if your remaining balance still covers open orders and maintenance margin. source ↗
3. Self-trading, including across accounts you control, is prohibited and can lead to suspension, frozen assets and reversed trades. Orders between your own main account and subaccounts are cancelled instead of filled. source ↗

Before you trade

Perpetual futures use leverage: a small price move against you can liquidate your collateral. Start with a small amount and low leverage, and read the venue’s current fee and margin pages, which can change after this guide was checked.