# How to Trade On-Chain Perps using Mango Markets

Trading with leverage on-chain requires you to open a Mango account in your fund and requires a **one-time fee of 0.035 SOL** to do so. 

The first 3 steps of this guide show you how to setup a Mango account within your Solrise fund and steps 4-5 show you how to open and close a leveraged position. It may seem like a lot but once you're familiar with the interface, the process is very self-explanatory.

### Step 1

* Go to [Solrise.Finance](https://solrise.finance/) and click **Launch App**.

![](/files/G7XmaadHhh2qgcvFh8C0)

* Click **Connect Wallet** in the top right corner and then click **Solflare**.

![](https://academy.solflare.com/wp-content/uploads/2022/05/Screen-Shot-2022-05-02-at-10.45.56-1024x566.png)

### Step 2

* You’ll be automatically taken to the **Explore** page. Click **Manage** on the top right.

![](/files/yFkvWFOZtEkScQeshFqK)

* Click on **Mango Perps** on the left side of the screen.

![](/files/KdmSksssEx5nA5OFpsQr)

In order to trade with an on-chain leverage, you'll need to make Mango account. There's a **one time cost of 0.035 SOL** in order to do so. Make sure to always have SOL in your wallet to pay for fees!

### Step 3

* Click **Create Account** on the right side of the screen.

![](/files/y62AcOqq8Rm6q2HxLhfZ)

* Type in the amount you want to leverage trade with and click **Create and Deposit**.

![](/files/zyoXjTr9m8IbHjxkS9co)

* **Approve** the transaction.

![](/files/iJLGp21S16zBnx9EBwI8)

You now have access to up to **20x leverage** on a growing list of assets to trade on-chain.

![](/files/rE3nTFTXRy2mvaEb0okQ)

#### The order types are the following:

![](/files/jjXTKzSfsB8GwVpFh21t)

### Step 4

* Decide how much you want to trade and type in your order.

You can specify how much slippage you would accept and if price slips more than your Max Slippage, your order will be partially filled up to that price.

![](/files/plcf6oIuKkfq7JuqW8KB)

* click **Buy SOL-PERP**. (this could also be Sell BTC-PERP or Buy ETH-PERP, etc)
* **Approve** the transaction.

![](/files/kacVsQwc1rgi797dcEaW)

* You can now see your live position details on the top and bottom of the page. 

![](/files/3EmRGGoyNrWbuEsZCvm0)

Keep an 👀 on the **estimated liquidation price** in the bottom right corner.

FYI, occasionally Solana doesn't fetch all of the live data so your PnL may say N/A but don't worry, as long as the Solrise interface says you have a position - you do.

There is a lot more you can do with the Solrise trading interface such as set limit orders and move them around on the chart or view your account within Mango's interface and utilize their borrowing and lending capabilities but for the sake of this guide, we're just opening and closing a trade. 😄

### Step 5

* If you haven't been liquidated or placed a limit order to get out of the trade, click the **Close** button on the bottom right corner of the page. 

![](/files/YD6IFsxwnzRUFBmirtVd)

* The following pop up will appear. Use the slider to decide how much of your position you want to close and then click **Close Position**.

![](/files/rexaKIKddPWoFzNXfXoh)

* **Approve** the transaction.

![](/files/kacVsQwc1rgi797dcEaW)

### That's it!

You've now successfully completed a permissionless, round trip, leveraged, on-chain trade of a digital asset on the world's highest performing blockchain. The fact that you can do this with other people's capital while not actually *custodying* their capital is one that should not be overlooked. As more assets and financial products are integrated into Solrise, managers will just have more ways to make money for their investors and themselves. 


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