Key features
Cross-Margin System: All perpetual positions share a single cross-margin account. Your entire Perps account balance acts as collateral for all trades, maximizing capital efficiency. There is no isolated margin by default – profits in one position can offset losses in another automatically.
USDC Settlement: All contracts are linear and denominated in USDC. Trade BTC, ETH, and other assets with profits and losses settled in USDC stablecoin. Quoting and margin in a stable currency simplifies accounting and reduces volatility of your collateral.
Multi-Collateral Support: While USDC is the primary settlement asset, Yamata Perps allow using multiple assets (e.g. USDT, ETH) as collateral. Non-USDC collateral is assigned a haircut (discounted value) for risk management. The system automatically converts collateral values to USDC-equivalent when calculating your margin and P&L.
Leverage Trading: Perpetuals enable amplified exposure through leverage. You can go long (bet on price increase) or short (bet on decrease) with leverage up to the maximum allowed per asset. This means you can open larger positions than your collateral would allow in spot trading, increasing potential profit (and risk) significantly.
Getting Started with Yamata Perps
Transfer Collateral to Perps Wallet: Before trading, move funds into your Perpetuals account. In the Yamata app, navigate to your wallet and use the Transfer function to allocate assets (USDC or other supported collateral) from your Spot wallet to your Perps wallet. This on-chain transfer establishes your margin balance for perpetual trading. (Likewise, you can transfer unused funds back to Spot at any time.)
Select a Market: Go to the Perpetuals trading interface and choose the market you want to trade (e.g., BTC-PERP for Bitcoin/USDC perpetual). The interface is similar to spot trading, with a live order book, price chart, and trading panel.
Set Leverage (if applicable): Yamata’s cross-margin system will automatically apply available leverage based on your position size and collateral. You may have an option to adjust leverage or it may be derived from the order size relative to your equity. Ensure you understand the implications: higher leverage uses more of your available margin and increases liquidation risk.
Place an Order: Choose an order type (Market or Limit – see Perpetual Order Types for details). Enter the order details:
For Market Orders, input the position size (in contracts or USD value) you wish to buy/sell. The order will execute immediately at the best available price.
For Limit Orders, specify the price and size. Your order will rest in the order book until the market trades at your price.
You can also set advanced options like Reduce-Only to ensure the order only closes existing positions, or use Stop Orders to automate entry/exit (explained later).
Monitor Positions: Once your order fills, a Position is opened. You can track it in the Positions panel, which shows entry price, size, unrealized P&L, margin used, and liquidation price. Yamata continuously updates your unrealized P&L based on the current mark price of the contract.
Closing Positions: To realize profits or cut losses, place an opposite order of the same size (or use the Close button if available). You may use market orders for immediate exit or limit orders to target a specific close price. If you set stop-loss or take-profit orders, they will trigger automatically to close your position at the predefined levels.
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