Fomo perps: how perpetual futures work on Fomo

What perps are on Fomo

A perpetual future (“perp”) tracks an asset’s price without you owning the asset. You go long if you expect the price to rise or short if you expect it to fall, usually with leverage. Unlike traditional futures, perps don’t expire.

Fomo launched perps on 11 June 2026, powered by Hyperliquid and Trade[XYZ]. Fomo listed these markets at launch:

• Crypto, including BTC, ETH, SOL and HYPE
• Stocks, including NVDA, GOOGL and AMD, plus pre-IPO markets such as SpaceX
• Indices, including the S&P 500 and Nasdaq 100
• Commodities, including oil, gold and silver

Perps plug into Fomo’s social features: they appear in the feed, on the leaderboard and in theses, and you can get notified when traders you follow open positions.

Funding your perps balance

Fomo keeps two cash pools: your token cash balance for spot trading, deposits and withdrawals, and a separate perps cash balance. To trade perps, tap Transfer cash on your profile and move USDC across.

• Minimum transfer in: 5 USDC. Minimum transfer out: 2 USDC.
• Transfers are free and usually take a few minutes.
• The first time, Fomo creates your perps account and covers the 1 USDC protocol fee.
• To withdraw perps money, transfer it back to your token cash balance first.

Placing a trade

Pick a market, choose long or short, set leverage in whole numbers, and enter a size. The minimum position is 15 USDC notional. Entries are market orders. The confirm screen shows the estimated entry price, the margin you’ll lock and your estimated liquidation price.

Once open, you can add or remove margin, set take profit and stop loss, close at any time, or set a limit close price.

Leverage limits and what they mean

Leverage multiplies losses as much as gains. Fomo’s own example: a 1,000 USDC position at 10x needs 100 USDC of margin. A 5% move against you loses 50 USDC, half your margin. At 40x, a move of roughly 2.5% against you wipes out the margin; at 5x it takes roughly 20%.

Margin and liquidation

Every position on Fomo uses isolated margin: each position has its own collateral, so a liquidation only costs that position’s margin.

• Initial margin is what you lock to open the trade.
• Maintenance margin is the floor. If your margin, including unrealized losses, drops below it, the position is liquidated automatically and that margin is gone.

Liquidation, take profit and stop loss all trigger off the mark price, which can differ from the chart. The liquidation price shown is an estimate that moves as funding is paid. Liquidation-risk notifications are always on.

Take profit and stop loss

You can set them when opening a trade or later (pencil icon → Edit SL/TP). When triggered, they close as a market order with a built-in 10% slippage tolerance. In fast markets the price can gap past a stop before it fills.

Fees and funding

• Fomo’s fee: 0.05% per trade, charged when you open and when you close.
• Hyperliquid’s fees apply too, as a percentage of the full leveraged position size, not just your margin.
• Funding is paid hourly between longs and shorts. Depending on market conditions you pay or receive it, and over days it can add up.

The exact fee, estimated fill price and margin show on the order screen before you confirm. Fomo doesn’t say whether the referral discount applies to perps fees.

Risks Fomo highlights

Perps carry much more risk than holding tokens. Fomo’s help center lists leverage, liquidation, funding costs, mark-price differences, fast markets and protocol risk from Hyperliquid’s infrastructure. Trades can’t be reversed. Fomo’s own advice is to only trade money you can afford to lose entirely.