FAQ

Why does ETH² cost about the same as ETH? Because it's listed at the coin's price: mark = (S ÷ ref)² × ref, so on listing day they're equal. From there ETH² moves twice as far in percent terms (and drifts down slowly by the funding rate). Use the ETH² vs ETH chart view to see both on one axis.

Is 3x on ETH² like 3x on ETH? No. For small moves ETH² moves twice as much as ETH, so 3x on ETH² behaves like about 6x on ETH, and the liquidation price is closer than you'd guess. The ticket shows the max move to liquidation; read it.

What's a knock-out? A position above the standard max leverage. It has a fixed exit price set when you open and can never lose more than its collateral. See Leverage.

Isolated or cross margin? Isolated. Each position has its own collateral and its own liquidation or knock-out price. Use Margin on a position to add collateral (lower leverage, closed further away) or take some back out (higher leverage, up to the market's max).

Can I set a maximum leverage so I don't fat-finger 50x? Leverage is the slider on the ticket, saved per market. To make 50x impossible by accident, set a lower max leverage from the ✎ next to it: the slider then stops there.

Who is on the other side? The pool. It hedges on Derive. See Pool and Safety.

Is this real money?

Not here. This site runs on test dollars at live prices: paper (instant test dollars) or testnet (test dollars that move on Robinhood Chain testnet). The real-money site is separate.

Can I trade on my phone? Yes, two ways. Link your phone: connect on your computer, click your address, then Link your phone and scan the QR code with your phone's camera. Your wallet signs once, and your phone opens Stratos on your account for 30 days. A linked phone can trade and manage positions, but withdrawals and linking more devices need your wallet; unlink it any time from the same window. Or use a wallet app: tap Connect wallet on your phone and pick MetaMask, Coinbase Wallet, Trust Wallet or Phantom, which opens Stratos in that app's browser.