Long or short ETHFI with leverage — no expiry, hourly funding, one Polymarket balance.
The ETHFI perp tracks the price of ETHFI with no expiration date. Go long if you expect the price to rise, short if you expect it to fall; the position stays open until you close it or your margin is liquidated. An hourly funding rate — paid between longs and shorts, capped at ±4% per hour — keeps the perp price anchored to the reference price.
Leverage limits are set per contract and change over time — the largest contracts list the highest maximums (BTC lists up to 50x). Leverage multiplies losses exactly as it multiplies gains: at 50x, a ~2% adverse move wipes out a fully leveraged position's margin; at 20x it takes ~5%; at 10x, ~10%. When margin is exhausted the position is liquidated and the collateral is gone. Beginners should start at 1–3x, or skip leverage entirely, until funding and liquidation mechanics are second nature. Confirm the live maximum on the ETHFI contract page before trading.
Trading fees start at 0.04% for takers and 0.0125% for makers at standard volume, stepping down for high-volume accounts. Funding is the second cost: hold a position on the crowded side and you pay the other side every hour. Margin is held in pUSD, and the same Polymarket balance works across perps and prediction markets. Full breakdown: perps fees and funding rates explained.
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One balance for prediction markets and perps. Check the live contract, start at low leverage, and size small while you learn.
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