How to start trading on DipCoin

1. Create an account

1. DipCoin is an order-book perpetuals exchange that started on Sui and now also accepts Solana wallets. Perpetuals can be traded from either a Sui or a Solana wallet. source ↗
2. To start, connect a wallet. Solana options include Phantom, Backpack and Solflare; Sui options include Slush, OKX Wallet and Phantom in Sui mode, or a Google account login (ZK-secured) with no private key to manage. source ↗
3. Always check that you are on https://dipcoin.io before connecting a wallet. source ↗

2. Deposit collateral

1. Solana users deposit native USDC on Solana, which is moved to DipCoin with Circle CCTP, so there is no need to swap into USDC on Sui first. source ↗
2. Solana users need a small amount of SOL for the initial CCTP burn transaction; later platform interactions use your deposited USDC for fees. Sui users need SUI in their wallet for gas. CCTP transfers between Solana and Sui typically take 10-60 seconds. source ↗
3. Perpetuals, including TradFi markets, are collateralized and settled in USDC. source ↗

3. Open your first position

1. You can place market orders, which fill at once but can slip, and limit orders, which rest on the book as Good Till Cancel by default and reserve the required cost from your available collateral. source ↗
2. Take-profit and stop-loss orders trigger on the mark price, close with a market or limit order, and are always reduce-only. You can attach them to a new order or to an existing position. source ↗
3. All markets currently use isolated margin, so the margin you assign to a position is the most you can lose on it. The initial margin ratio sets the maximum leverage; for example 5% means 20x. source ↗
4. Docs list a 0.040% taker fee and 0.010% maker fee on order notional, settled in USDC. You also pay network gas for on-chain actions such as deposits, withdrawals and margin changes. source ↗

4. Know how liquidation works

1. Liquidation happens when a position's margin ratio falls to or below the maintenance margin ratio, and it is triggered by the mark price. Between maintenance and initial margin you can only add collateral or open offsetting positions. source ↗
2. The mark price is the median of a funding-adjusted index, a 2-minute moving-average basis price and a median of major exchanges' mark prices, so it can differ from the last trade. source ↗
3. If a liquidated position cannot be closed and the market's insurance fund cannot cover the loss, auto-deleveraging reduces opposing traders' positions, starting with those with the highest unrealized profit and leverage. source ↗
4. Funding is paid hourly between longs and shorts and is capped at 0.1% per hour. When the contract trades above the mark price, longs pay shorts. source ↗

5. Withdraw

1. Withdrawing collateral is an on-chain action, so you pay the network gas fee yourself. source ↗

6. Common mistakes

1. Stocks and commodities trade 24/7, but outside regular market hours (nights, weekends, holidays) maximum order size and open-interest limits are lower, and the platform may switch a market to reduce-only. source ↗
2. Pre-Launch Perpetuals track a private company's expected share price but are not shares or IPO allocations. They carry extra risks such as a delayed or cancelled listing and price gaps around the first trading day. source ↗
3. In a liquidation or auto-deleveraging event, all reduce-only orders, including TP/SL, are cancelled. 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.