Perps
Perpetual Futures (Perps) allow you to place long or short orders with leverage.
Execution runs on Jupiter’s on-chain Perpetuals program.
The markets we currently support are SOL, wBTC, and wETH Perps.
Leverage can liquidate you fast. Size positions conservatively.
What you can do
Open a long or short with up to 250× leverage.
Add to an existing position (same market + direction).
Close a position (partial or full).
Set and manage stop loss (SL) and take profit (TP).
What you set
Market: SOL, wBTC, or wETH.
Direction: long or short.
Collateral amount: what you lock.
Leverage: your exposure multiplier.
Slippage tolerance: default 2% (adjustable per trade).
Optional Stop Loss/Take Profit (SL/TP): trigger-based exits (execution can slip in fast markets).
Perps Commands:
Main menu: 💸 PERPS
/open_long/open_short/active_positions/historical_positions/perps_mobile_app
Buttons
Trade Perps in the bot, or open the Perps Mobile App directly from the bot’s Main Menu for a chart-first experience.
📱 Perps Mobile App(Main Menu) — charts + faster mobile management. See: Perps Mobile App.📈 Open Long— open a long position using FatCat Bot on Telegram.📉 Open Short— open a short position using FatCat Bot on Telegram.🎯 Active Positions— view/manage open positions. See: Manage positions.📚 History— view closed positions and events. See: Position History.
Supported markets
SOL
wBTC
wETH
Requirements and limits
Minimum collateral
$10 equivalent
Leverage
1.1× to 250×
Default slippage
2% (adjustable per trade)
Key terms:
Notional size: your total position size. It includes leverage.
Collateral: what you lock to support the position.
Leverage: multiplier on collateral (example: 10× = 10× exposure).
Liquidation price: price where margin becomes too low. The position can be force-closed.
Borrow fee: hourly cost paid while the position is open.
Perps fees (FatCat + Jupiter)
Perps have FatCat fees and Jupiter program fees.
Most fees are charged as a percentage of notional size (your total position size).
You also pay Solana network fees for on-chain transactions.
Full fee overview: Fee Structure
FatCat fees
Open position
0.08% of notional size
At approval (non-refundable)
Close position (market)
No fee
—
Set stop loss
No fee
—
Set take profit
No fee
—
Modify SL/TP
No fee
—
Cancel SL/TP
No fee
—
FatCat only charges a fee when you open a position.
Jupiter fees
Open position
0.06% of notional
Deducted from position at open
Close position
0.06% of notional
Deducted from position at close
Borrow fee
Variable (hourly)
Ongoing while position is open
Price impact fee
Variable (depends on size)
Deducted at execution
Jupiter uses a borrow fee system (not funding rates).
Borrow fees accrue hourly, depend on pool utilization, and are paid to liquidity providers.
Rule of thumb for open + close fees: 0.20% total (FatCat 0.08% on open + Jupiter 0.12%).
Then add borrow fees if you hold the position.
Advanced: rent + Jupiter reference
A small SOL rent amount can be required to create an escrow account. It is returned when you close the position.
Opening a position (long or short)
Collateral requirements
Long
Must use the token you’re longing (SOL, wBTC, or wETH)
Short
Must use USDC
Adding to an existing position
If you already have an open position of the same type (example: SOL long) and open another, FatCat updates the existing position instead of creating a separate one.
You’ll see a modified summary showing:
Modified position size
Modified liquidation price
Modified total collateral
New effective leverage
What happens after you confirm
Position account: stores collateral, leverage, and settings.
Pricing: uses oracles and on-chain logic for triggers.
PnL: updates with price movements and borrow costs.
Liquidation: can force-close if margin gets too low.
SL/TP + liquidation: trigger vs execution (important)
SL/TP and liquidation are on-chain rules, but they’re not “perfect fills”.
Keep these mental models:
Trigger vs execution: your SL/TP trigger can be reached, then execution happens at the best available on-chain price.
Fast markets can slip: you can exit worse than your trigger in big moves.
Liquidation can win the race: if margin gets too low, liquidation can close you before your SL.
After size changes: if you add to a position or close partially, re-check:
liquidation price
your SL/TP levels
your effective leverage
Always confirm current status in 🎯 Active Positions.
On-chain behavior (details)
Positions live in Jupiter’s Perpetuals Program accounts.
SL and TP are enforced by on-chain rules.
Liquidations protect the underlying liquidity pool.
Managing active positions
Open 🎯 Active Positions, then tap a position to manage it.
Full guide: Manage positions.
You can also manage Perps directly on Jupiter (optional): https://jup.ag/perps
Troubleshooting
If an action fails or looks “off”, it’s usually one of these:
Not enough SOL: you need SOL for network fees (and sometimes account rent).
Wrong collateral type: longs require the market token. Shorts require USDC.
Slippage too tight: increase slippage tolerance for fast markets.
PnL drifting while price is flat: borrow fees accrue hourly while the position is open.
Liquidation price changed: effective leverage changes after you add collateral/size, or as fees accrue.
If you’re still stuck, try again with smaller size and higher slippage.
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