STX-PERPCrypto · Layer 2Trade Stacks (STX) Perpetual Futures
Go long or short on Stacks with up to 100x leverage. No KYC, no sign-up: connect your wallet and trade 24/7.
- No KYC
- No sign-up
- Self-custody
- Up to 100x leverage
- Mark price
- 0.3210
- 24h high
- 0.3400
- 24h low
- 0.3091
- 24h volume
- 2M USDT
Stacks is a network that brings smart contracts and decentralized applications to Bitcoin. It operates as a layer that settles to Bitcoin: Stacks blocks are anchored to Bitcoin's chain, so applications can use Bitcoin's security and finality while gaining programmability that Bitcoin itself does not offer. The project grew out of Blockstack, co-founded by Muneeb Ali and Ryan Shea.
Stacks uses a consensus mechanism called Proof of Transfer. Miners bid BTC to win the right to produce Stacks blocks and earn STX, and the BTC they spend goes to STX holders who lock, or "stack", their tokens to help secure the network. Smart contracts are written in Clarity, a language designed to be predictable and readable so that a contract's behavior can be known before it runs. The Nakamoto upgrade introduced faster blocks and stronger ties to Bitcoin finality, and sBTC lets users bring BTC onto Stacks for use in decentralized finance.
STX is the native token, used for transaction fees, smart contract execution and stacking. Traders follow STX as a leading way to gain exposure to the theme of building applications on Bitcoin.
STX is closely linked to Bitcoin. The price of BTC, and the broader narrative around Bitcoin decentralized finance and layer-2 networks, often set the direction for STX. Because stackers earn BTC rewards, the attractiveness of stacking yields can affect how much STX is locked rather than traded.
Adoption on the network matters as well: the amount of BTC moved onto Stacks through sBTC, total value locked in Stacks applications, and progress on upgrades. Competition from other Bitcoin layer-2 and sidechain projects can divert attention and capital. Miner activity, new STX emissions and general crypto risk appetite round out the main drivers.
The STX perpetual is a futures contract on the price of Stacks with no expiry date. You never own Stacks itself: you go long if you expect the price to rise or short if you expect it to fall, and settle profit and loss in USDT.
You choose your leverage, up to 100x. Margin is cross: your whole perpetual balance backs every open position. Positions are valued at a mark price taken from market data, which can differ from the last trade, and an order more than 20% away from the mark price is rejected.
- 1Connect a wallet. Connect MetaMask, or log in with email or Google, and sign the login message.
- 2Deposit USDT. Deposit USDT and move it to your perpetual account to use as margin.
- 3Choose long or short and your leverage. Open the STX market, pick a direction and leverage, and place a market or limit order.
- 4Manage the position. Set a take-profit or stop-loss, add margin, or close the position whenever you like.
| Topic | Max Orion | Centralized exchange |
|---|---|---|
| Sign-up | No KYC: connect a wallet and sign a message | Email, password and identity checks |
| Your account | Your wallet address is your account | A username held by the exchange |
| Orders | Every order is signed by your wallet | Orders sent under a logged-in session |
| Hours | Crypto, gold and oil, 24/7 | Commodities often follow market hours |
Leverage multiplies losses as well as gains. If the Stacks price moves against your position far enough that your perpetual balance, including unrealized losses, falls below the maintenance margin, positions are closed automatically at the prevailing price and you can lose your whole balance. A stop-loss becomes a market order when triggered and is not guaranteed to fill at its price. Only trade with money you can afford to lose. STX is generally more volatile than Bitcoin, often amplifying BTC's moves in both directions.
Frequently asked questions
A STX perpetual is a futures contract on the price of Stacks with no expiry date. You go long if you expect the price to rise or short if you expect it to fall, post margin in USDT, and keep the position open for as long as your margin covers it.
You can trade Stacks perpetuals with up to 100x leverage. The higher the leverage, the smaller the price move against you that liquidates the position.
No. There is no KYC and no sign-up form. You connect a wallet and sign a message to log in — self-custody wallet sign-in, with no password — then deposit USDT to start trading.
Every market settles in USDT, with cross margin: your whole perpetual balance backs all of your open positions, so a profit on one adds margin to the others and a loss on one reduces the margin left for all of them.
A perpetual has no expiry, so a periodic funding payment between longs and shorts keeps its price close to the underlying market. When the perpetual trades above the underlying, longs pay shorts; when it trades below, shorts pay longs.
A maker order, which waits in the order book, pays 0.02% of its value. A taker order, which fills immediately, pays 0.06%.
Leverage multiplies losses as well as gains. If the price moves against your position far enough that your margin no longer covers it, the position is liquidated and the margin is lost. Only trade with money you can afford to lose.
