How to View Perps in OneKey App
In OneKey App, users can directly access decentralized perpetual futures (Perps) market data and trading entry points — managing spot assets and contract positions in one interface without switching between multiple platforms.
Why It Matters
Perpetual futures (Perps) are one of the fastest-growing trading categories in DeFi. DeFiLlama data shows that total value locked (TVL) and daily trading volume for on-chain perpetual futures protocols have grown steadily in recent years. For users who already manage assets in OneKey, being able to view Perps market data and jump to trading in one app significantly reduces the friction of platform switching and the operational risks associated with moving assets.
Core Mechanics and Key Concepts
What Are Perps (Perpetual Futures)?
Perpetual futures are derivative contracts with no expiration date. They allow traders to take leveraged long or short positions on asset prices. Unlike traditional futures, perpetual contracts use a funding rate mechanism to keep contract prices anchored to spot prices: when long positions are too heavy, longs pay shorts the funding rate; when short positions dominate, shorts pay longs.
The Hyperliquid documentation provides a detailed explanation of on-chain perpetual futures matching mechanisms and funding rate calculation logic — an excellent reference for understanding how decentralized Perps work.
On-Chain Perps vs. Centralized Perps
The Significance of Funding Rates
The funding rate is a key cost variable in Perps trading, settled at fixed intervals (typically every 8 hours). Positions whose direction aligns with prevailing market sentiment typically pay the funding rate, while positions in the opposite direction receive it. Checking the funding rate in OneKey App helps you evaluate the ongoing cost of holding a position.
Step-by-Step: Viewing Perps in OneKey App
Step 1: Download and Open OneKey App
Go to the OneKey official download page to get the latest version of OneKey App, available for iOS and Android. After installation, create or import your wallet account.
Step 2: Go to the Markets / Prices Page
- Open OneKey App and tap the "Markets" or "Discover" tab in the bottom navigation bar (specific tab labels depend on the current app version).
- At the top of the Markets page, you will see category tabs for "Spot" and "Futures / Perps."
- Tap the "Perps" or "Perpetual Futures" tab to enter the contracts market list.
Step 3: Browse Contract Market Data
The contracts market list typically displays:
- Trading pair: e.g., BTC-PERP, ETH-PERP, SOL-PERP
- Latest price: Current contract execution price
- 24h change: Percentage price change over the last 24 hours
- Funding rate: Current period funding rate and next settlement time
- Open interest: Total outstanding contracts in the market, reflecting activity levels
Use the search bar to quickly locate Perps data for a specific asset, or sort by change percentage, funding rate, and other metrics.
Step 4: View a Single Contract's Details
Tap any trading pair to enter its detail page:
- Candlestick chart: View historical price movements with switchable time periods (1 minute, 1 hour, 1 day, etc.)
- Depth chart: View the buy/sell order distribution and understand current market liquidity
- Funding rate history: Review historical funding rate trends
- Recent trades: Real-time trade records
Step 5: Navigate to a Perps Exchange
To place a trade, tap the "Go to Trade" or "Trade" button on the detail page. The app will guide you to the corresponding decentralized Perps protocol (such as Hyperliquid). Connect your wallet on the protocol interface to begin trading.
OneKey App: Your Unified Entry Point
OneKey App serves as a unified Web3 asset management hub. The Perps feature helps users:
- All-in-one market monitoring: Spot and contract market data are presented together — no need to switch between multiple platforms.
- Quick trading access: Jump directly from the market data view to on-chain Perps protocols, reducing operational steps.
- Funding rate reference: Review funding rate costs within the app before formulating a trading strategy.
- Integrated wallet management: Paired with a hardware or software wallet, enjoy full security protection when signing Perps trading contracts.
For more on Perps trading mechanics, see the Hyperliquid official documentation.
Risks and Precautions
- Leverage amplifies losses: Perpetual contracts use leverage. When prices move against your position, losses are magnified by the leverage multiplier. Forced liquidation (liquidation risk) is real.
- Funding rate costs: Holding positions that align with prevailing market sentiment over the long term means continuously paying the funding rate — a hidden cost that should not be overlooked.
- Smart contract risk: On-chain Perps protocols carry the risk of contract vulnerabilities. Choosing established protocols with audit records reduces this risk.
- Liquidity risk: On-chain Perps liquidity for some lower-cap assets may be thin; large trades may experience significant slippage.
- Regulatory uncertainty: Derivatives trading is subject to different regulatory frameworks in different jurisdictions. Users should be aware of compliance requirements in their region. Refer to SEC investor education for derivatives-related risk disclosures.
FAQ
Q: Can I complete Perps trades directly within OneKey App? A: OneKey App provides Perps market data browsing and protocol access. The actual trading takes place on the corresponding on-chain Perps protocol interface. The app handles wallet connection and transaction signing.
Q: Do I need to connect a wallet to view Perps market data? A: No. Viewing market data requires no wallet connection. A connection is only needed when performing trading operations.
Q: Which Perps protocols does OneKey App support? A: The supported protocol list changes with app updates. Check the Perps page within the app for currently integrated protocols, or visit the OneKey website for the latest information.
Q: What does a negative funding rate mean? A: A negative funding rate means there are too many short positions. In this case, shorts pay longs the funding rate. Holding a long position allows you to receive the funding rate — but this does not necessarily mean prices will rise.
Q: How can I reduce risk in Perps trading? A: Common practices include: setting reasonable stop-loss levels; using lower leverage; monitoring funding rate costs; and not concentrating all capital in a single position.
Take Action Now
Visit the OneKey website to learn more about product features, or download OneKey App directly to explore spot and Perps market data in one unified interface — combining secure wallet management with a complete Web3 trading experience.
