How to trade Futures on Coin98 Web
WARNING
Perpetual futures risk disclosure
Trading on Coin98 Futures carries significant risks, including (but not limited to) market volatility, leverage and liquidation losses, and smart contract vulnerabilities, any of which may result in the complete loss of your funds.
Prices may be affected by funding rates and liquidity, you may also be subject to automatic liquidations without prior notice.
Market data is provided by Hyperliquid. Coin98 does not own, control, operate, or assume any liability for Hyperliquid’s functionality, accuracy of data, risks, or outcomes.
Getting Started
Before you start trading, make sure you have prepared the following:
Wallet: A multi-chain wallet on Coin98 Extension (perp trading isn’t supported on single-chain wallets)
Collateral:
USDC, and ETH (to pay gas for deposit) on Arbitrum, or
SOL on Solana, which can be converted automatically to USDC on Coin98 Futures upon deposit.
If you don't have those tokens, you can easily deposit, swap, or purchase them directly on Coin98.
Basic understanding of How Perps work
Accept Terms and Conditions
The first time you open the Futures section, a pop-up will appear showing the Terms and Conditions, as well as risk and privacy information. To continue, review the details, check the confirmation boxes, and click Agree.
Add Funds
To start trading, you'll need to deposit funds into your futures account
Step 1: Go to coin98.com => Access Futures
Step 2: Click on Connect Wallet button at the top right corner, then select the wallet you want to use for trading.
Step 3: Scroll down to the end of the page => click Add Funds
Step 4: Input the amount you want to add => click Add Funds.
Note:
Input amount must be above the minimum and not exceed your balance. Current minimums (set by Hyperliquid rules based on market price):
SOL: 0.2 SOL,
USDC: 5 USDC;
Network fee is required to process your transaction.
For USDC (Arbitrum), you need ETH (Arbitrum) for network fee.
When you deposit SOL, it is bridged to Hyperliquid's spot account and automatically converted to USDC. This USDC is then credited to your Hyperliquid perp margin account - no extra steps required. The fee will be deducted from the input amount, so the Available Amount = Input amount - Fee.
Step 5: Click Add Funds and Confirm in your wallet to complete the transaction.
You can check the transaction history in the Fund Activities section.
Start Trading (Long/ Short)
How to open a Long/Short position
Step 1: Select the token you want to trade from the list or use the Search bar to quickly find it.
Step 2: Choose the position type:
Long: If you believe the token price will go up
Short: If you believe the token price will go down
Step 3: Fill in the required information:
[1] Margin Mode:
Cross: All cross positions share the same cross margin as collateral. In the event of liquidation, your cross-margin balance and any remaining open positions under assets in this mode may be forfeited.
Isolated: Manage your risk on individual positions by restricting the amount of margin allocated to each. If the margin ratio of an isolated position reaches 100%, the position will be liquidated. Margin can be added or removed to individual positions in this mode.
[2] Leverage: Set the desired Leverage directly or scroll horizontally.
The minimum and default leverage is 1x, while the maximum leverage depends on the selected token. Higher leverage increases potential gains, and the risk of liquidation.
[3] Enter margin: The amount of funds you put up as collateral. You can input the amount manually or select a percentage of your Available Funds.
The minimum order size is 10$.
If you enter a margin of $2 and apply 5× leverage, your total position size becomes $10, meeting the minimum requirement and allowing you to open the position.
[4] Take Profit/Stop Loss (Optional): Enable Set TP or S by toggling on the button
Position
Take profit (TP)
Stop Loss (ST)
Long
Auto-close when price rises to target
Auto-close when price drops below tolerance
Short
Auto-close when price drops to target
Auto-close when price rises above tolerance
Note:
This step is optional, you can enable it later after a position is opened.
You can set only Take Profit, only Stop Loss or both.
Liquidation price is the price at which the position will be auto closed since the margin is insufficient to maintain the trading. The liquidation price is only determined when the input amount is confirmed.
A Stop Loss is effective only if it is set between the Current Price and the Liquidation Price
After enabling this option, you need to set price and % gain for take profit and % loss for stop loss. You can either:
Input Price and the % Gain/Loss is auto calculated based on the input price, with leverage applied, or
Input % Gain/Loss and the price is auto calculated based on the input % Gain, with leverage applied.
By toggling off the button, you can turn off the Auto close option.
Step 4: Review the Order Summary. Then select Open Long/Open Short and Confirm in your wallet to open a position
You can now check your trade history in the Trade Activities section.
Example
If Bob deposited 100$, select BTC/USD and set x10 leverage → the position size is 1000$.
Bob thought BTC will pump in the near future and decided to open a Long position at $100,000.
If BTC price reaches $110,000 (+10%), the position value increases from $1000 to $1100 → his profit will be $100$ (100% of your initial margin)
If BTC price drops to $95,000 (- 5%), the position value decreases from $1000 to $950 → his loss will be $50 (-50% of your initial margin)
Bob thought BTC price will drop in the near future and decided to open a Short position at $100,000.
If BTC price drops to $95,000 (-10%), the position value increases from $1000 to $1100 → his profit will be $100$ (100% of your initial margin)
If BTC price rises to $105000 (+ 5%), the position value decreases from $1000 to $950 → his loss will be $50 (-50% of your initial margin)
How to modify a position
Your positions will be displayed at the bottom of the page. You can adjust them at any time.
Click the edit icon at the Margin tab to:
Add margin: increase your current position
Reduce margin: decrease your current position
Click the edit icon at the TP/SL to modify your take profit or stop loss status
Click Reverse to switch your position to the opposite direction
Note: The leverage cannot be changed when modifying a position.
Your position will be updated once the action is confirmed.
How to close a position
A position can be closed manually at any time,
Step 1: Scroll down to the bottom of the page. Select Position tab
Step 2: At the position you want to close, swipe right and click Close.
Step 3: Review the details (PNL, fees, etc.), then click Close Long/Close Short if you agree to close.
You can check your history in the Trade Activities section.
Limit Order
How to place a Limit Order
Step 1: Go to coin98.com => Access Futures and Connect with your wallet
Step 2: Select the token you want to trade from the list or use the Search bar to quickly find it.
Step 3: At the top right corner, switch to Limit
Step 4: Enter the amount, set the desired Leverage, and set TP/SL (optional).
Note:
The minimum order size is 10$. If you enter a margin of $2 and apply 5× leverage, your total position size becomes $10, meeting the minimum requirement and allowing you to open the position.
Step 5: Review the Order Summary, then click Long/Short to confirm the transaction
How to cancel a Limit Order
An order can be canceled manually at any time,
Step 1: Scroll down to the bottom of the page ⇒ select Open orders tab
Step 2: At the order you want to cancel, swipe right and click the Cancel icon (X) to proceed.
Withdraw funds
Step 1: Go to coin98.com => Access Futures
Step 2: Connect your wallet, then scroll down to the end of the page => click Withdraw
Note:
Each token has a minimum withdrawal amount (for USDC it is 2 USDC, and for SOL it is 0.2 SOL).
Tokens received = Available - Fee.
Step 3: Click Withdraw and Confirm in your wallet to complete the transaction
Recover stuck funds
For some reasons, such as network congestion, interrupted transactions, or unexpected disconnection during order execution, your funds may become stuck while trading.
Don’t worry, you can now try to recover them by following these steps:
Step 1: Go to coin98.com => Access Futures
Step 2: Connect your wallet, then scroll down to the end of the page => click Withdraw
Step 3: If any funds are stuck, you will see them listed on the screen. Click Transfer All to Futures to proceed.
Note:
Do not close the app while transferring
For SOL, the stuck amount needs to reach at least 0.0498 SOL to qualify for transfer to your Futures balance. If it is lower, please wait until it accumulates enough to proceed.
Your stuck funds will be automatically transferred to your Futures balance once the process is completed.
Understanding Fees on Coin98 Futures
When trading perps on Coin98 Futures, the following fees apply:
Funding perps balance: gas fee to transfer SOL and a 0.07% Hyperliquid conversion fee, no extra fee from Coin98
Opening, closing a position: Coin98 charges a 0.04% builder fee on top of the Hyperliquid trading fee (see tiers below)
Withdrawal from perps balance (bridging USDC from Hyperliquid): A flat 1 USDC withdrawal fee charged by Hyperliquid to cover Arbitrum gas costs. An additional Hyperliquid conversion fee also applies (estimated on the UI).
Perps Fee Tiers (Hyperliquid portion)
This fee section follows Hyperliquid's calculation. Fees are based on your rolling 14-day weighted volume and are assessed at the end of each day in UTC.
Tier
14d weighted volume ($)
Taker
Maker
Taker
Maker
Taker
Maker
Taker
Maker
Taker
Maker
Taker
Maker
Taker
Maker
0
0.045%
0.015%
0.0270%
0.0090%
0.0315%
0.0105%
0.0360%
0.0120%
0.0383%
0.0128%
0.0405%
0.0135%
0.0428%
0.0143%
1
>5M
0.040%
0.012%
0.0240%
0.0072%
0.0280%
0.0084%
0.0320%
0.0096%
0.0340%
0.0102%
0.0360%
0.0108%
0.0380%
0.0114%
2
>25M
0.035%
0.008%
0.0210%
0.0048%
0.0245%
0.0056%
0.0280%
0.0064%
0.0298%
0.0068%
0.0315%
0.0072%
0.0333%
0.0076%
3
>100M
0.030%
0.004%
0.0180%
0.0024%
0.0210%
0.0028%
0.0240%
0.0032%
0.0255%
0.0034%
0.0270%
0.0036%
0.0285%
0.0038%
4
>500M
0.028%
0.000%
0.0168%
0.0000%
0.0196%
0.0000%
0.0224%
0.0000%
0.0238%
0.0000%
0.0252%
0.0000%
0.0266%
0.0000%
5
>2B
0.026%
0.000%
0.0156%
0.0000%
0.0182%
0.0000%
0.0208%
0.0000%
0.0221%
0.0000%
0.0234%
0.0000%
0.0247%
0.0000%
6
>7B
0.024%
0.000%
0.0144%
0.0000%
0.0168%
0.0000%
0.0192%
0.0000%
0.0204%
0.0000%
0.0216%
0.0000%
0.0228%
0.0000%
Total perp taker fee = Hyperliquid fee (from tier above) + 0.04% Coin98 builder fee Example at Tier 0 (base): 0.045% + 0.04% = 0.085%
Staking Tiers (HYPE)
Staking HYPE reduces your Hyperliquid trading fee portion:
Wood
>10
5%
Bronze
>100
10%
Silver
>1,000
15%
Gold
>10,000
20%
Platinum
>100,000
30%
Diamond
>500,000
40%
Maker Rebates
High-volume makers receive an additional rebate on the Hyperliquid portion of their fee:
1
>0.5%
-0.001%
2
>1.5%
-0.002%
3
>3.0%
-0.003%
Maker rebates are paid out continuously on each trade directly to the trading wallet.
FAQ
1. What is the minimum amount for adding funds and opening position?
The minimum amount for adding funds and position size is set by Hyperliquid rules based on the market price.
For adding funds:
SOL: 0.2 SOL
USDC: 5 USDC
For position size: 10$
2. What is the minimum and maximum leverage per pair?
The minimum leverage is 1x for all supported tokens. The maximum leverage depends on each token, for example, BTC can have leverage up to 40x.
3. Can I add funds with any tokens, or is there a list of supported tokens?
You can deposit the supported tokens only, such as SOL on Solana, USDC on Arbitrum and then they will be automatically converted to USDC for trading.
If you do not have those tokens, you can deposit, swap for them, or buy them directly on Coin98.
4. Can I adjust Take Profit (TP)/Stop Loss (SL) or Position Size after opening a position?
Yes, you can edit TP/SL and Position size at any time. Other parameters like leverage are not adjustable once the position is opened.
5. What happens if my margin is too low?
Margin is the deposit you put to open and maintain a position. If you put less margin, it means you are using only a small portion of your own funds and relying heavily on borrowed funds from the exchange by setting high leverage to get the same position size. This will make your position easier to be liquidated if price moves against your position's direction. In that case, your position will be automatically closed to ensure the borrowed funds are repaid.
For example, if you only use $100 as margin with 20x leverage, you can open a $2,000 position size, but you are borrowing $1,900. Even a small 5% drop in price would wipe out your $100 and cause liquidation. On the other hand, if you use $1,000 with 2x leverage for the same $2,000 position size, you borrow less, and your position can survive a larger price drop before liquidation.
6. Why can't I withdraw?
You still have open positions. Close them before withdrawing.
Your funds are less than the minimum withdrawal amount. Each token has a minimum withdrawal amount (for USDC it is 5 USDC, and for SOL it is 0.2 SOL).
Note: You can only withdraw the amount shown in Available. The actual tokens received = Available - Fee.
7. How long does it take to process adding funds?
The processing time depends on each token
Sol ~ seconds,
USDC ~ a minute,
8. When withdrawing, can I receive a different token than the one I used to add funds?
Yes, the default token displayed for withdrawal is the latest added one, but you can choose which token to receive after withdrawal.
9. Why is my available balance lower than the amount I added?
Because a small portion of your added funds is used to cover the network fee, so:
Available amount = Input Amount -Network Fee.
10. What type of margin does Coin98 Futures Web support?
Currently, Coin98 Futures Web supports Isolated and Cross Margin for perpetual. Each position has its own dedicated margin and is independent of other positions in your wallet.
Troubleshooting
1. Trying to add funds but failed, why?
You may leave the screen before the transaction finished. Please stay on the screen until you see a success message.
Your wallet balance is below the minimum required. Top up your wallet, then try again.
Make sure your Internet connection is stable and try to switch to a better one.
3. Why is Auto Close not working?
For Long: TP must be above the market price; SL must be below the market price.
For Short: TP must be below the market price; SL must be above the market price.
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