GLOSSARY · ORDER TYPES · PERP METRICS
Perp trading glossary.
Read the term, then watch it live.
Seven short explainers for the words that come up on every perpetual exchange: the execution algorithms in the order form and the metrics on the market page. Each one has a worked example and links to the live data or the tool it describes.
Every order type.
Every metric.
TWAP, Chase, Iceberg, and Scale run on seven exchanges from one Proliquid trade form, with funding, open interest, and liquidations beside the chart.
Open the terminalOrder types
How each execution algorithm works, what it costs, and the situation it was built for. All four run natively in the Proliquid terminal.
TWAP order
A TWAP order splits a large trade into timed slices to reduce market impact.
Chase order
A chase order keeps a maker-only limit order at the best bid or ask and reprices as the market moves.
Iceberg order
An iceberg order shows only a small clip of a larger limit order and refills it as it trades.
Scale order
A scale order places a ladder of limit orders between two prices to build a position across a range.
Perpetual metrics
The numbers behind every perpetual market, how they are calculated, and how to read them together. Each term links to the live page for the metric.
Funding rate
The funding rate is the periodic payment between longs and shorts on a perpetual.
Open interest
Open interest is the total value of perpetual contracts currently open.
Liquidation price
Calculate the liquidation price of a long or short perpetual from entry, leverage, and maintenance margin.
CalculatorRead the definition,
then check the number.
Funding rates across seven venues, Hyperliquid liquidation maps, whale positions, and this week's economic calendar are public on Proliquid, no account needed.
- Funding rates for 120 markets, normalized to 8h
- Liquidation maps and largest positions at risk
- Whale trades and liquidations, five-minute delay