Binance Futures versus Wallet Perpetuals
Binance Futures is a centralized Binance product with its own account and risk engine. Wallet Perpetuals opens an interface to Aster DEX, with position and order records linked to the same wallet address.
The distinction affects markets, collateral, fees, liquidation calculation, smart-contract risk and support. Never copy parameters from a similarly named Binance Futures contract.
Enable and fund Perpetuals
- 01
Open Wallet → Trade → Perps
Verify regional availability and update the app.
- 02
Select Enable Trading
Read the third-party terms and inspect each requested signature.
- 03
Choose collateral
The product supports selected BSC assets. Volatile collateral adds risk alongside the position.
- 04
Transfer to Perps
Moving funds into the Aster trading balance is a separate on-chain action.
- 05
Test the full cycle
Use a small position to verify entry, fees, funding, close and collateral withdrawal.
Mark price, funding and liquidation
Last price is the latest trade; mark price is used by the risk engine. Funding transfers value between longs and shorts to anchor the perp to its reference market. Check each contract’s exact rules.
Liquidation price is not a stop-loss. At the threshold, the system forcibly reduces or closes risk; higher leverage moves that threshold closer to entry.
Collateral can also move against the position. Model both legs when collateral is volatile, and leave room for funding, fees and a delayed on-chain top-up rather than treating every available dollar as margin.
Orders and position size
Market orders prioritize execution and limit orders prioritize price. Stops reduce operational risk but cannot guarantee a fill across a gap or network incident. Reduce-only helps prevent an accidental position reversal.
- Size from acceptable loss, not maximum leverage.
- Budget funding for the full holding period.
- Check margin mode and shared collateral.
- Use reduce-only for exits.
- Keep a buffer from liquidation and enough gas.
Stocks, ETFs and commodities in Perpetuals
A stock or commodity perp gives derivative price exposure. It does not confer shares, votes, dividends or physical delivery. The reference market can be closed while the perp trades, widening gaps and basis.
Do not confuse a stock perp with a tokenized security. Tokens can have an issuer, backing, multiplier and redemption; perps have funding, margin and liquidation.
Close and withdraw
Close or reduce the position, remove open orders and verify realized PnL. Then transfer available collateral from Perps/Aster back to Wallet and wait for BSC confirmation.