How to Trade Perps on Bitoro via Injective
Bitoro recently launched BitoroPro, an orderbook DEX that runs on Injective. BitoroPro enables trading perpetual futures (perps), spot, and swapping functionality as well.
In contrast to spot, which is buying and selling assets for immediate delivery, perps make it possible to speculate on the price of an asset without actually owning it.
Trading on BitoroPro allows you to take long or short positions without an expiry date. The platform is built for newcomers and experienced traders alike, but for anyone who may be just starting on Injective, this quickstart guide will get you going. Let’s go!
Step 1: Set up your wallet
- Choose a wallet: Ensure you have a compatible wallet that supports INJ token / Injective network. Examples include MetaMask, Leap, Kepler, and Ninji, the native Injective wallet. Note — MetaMask + Injective Hub wallet is usable for this purpose but has some limitations for natively displaying and using INJ.
- Install: If you’re already set up with a wallet, skip ahead. If not, install your chosen wallet and follow the setup instructions. Secure your seed phrase and private keys. Full instructions for MetaMask here, Kepler here, and Ninji here.
Step 2: Fund your wallet
Once your wallet is ready, it’s time to add funds. The first step is to select a funding method, ‘deposit,’ at the top right of the interface.
- Fiat — there are a few on-ramp providers to select from, and support for hundreds of fiat currencies. Note — this option may require KYC processes.
- Get INJ — you can purchase INJ from any centralized exchange (CEX) that has listed the INJ token. A small amount of INJ is required to withdraw and to transfer between accounts / subaccounts.
- Crypto — you can choose to use Injective’s native bridge to add assets to your account. The bridge is powered by Wormhole and supports 17+ different chains, including Ethereum, Solana, Polygon, Arbitrum, and others.
Full guide to INJ bridging:
Step 3: Place a Trade
Once your wallet is ready and funds are in place, you can proceed to trade on Bitoro. For perps, the basic steps are as follows.
I — Open the BitoroPro platform in your browser, at inj.app.bitoro.network
II — Agree to terms and conditions. If not already done, click on the “connect wallet” button and select your wallet. Approve the connection request.
III — Find perpetual futures ‘derivative’ in the dropdown on the top left of the interface.
IV — Select a market: Choose the specific market (e.g., BTC/USDT perp) you want to trade.
V — Choose order type: Select the type of order you want to place — market, limit, etc.
- Market order: Executes immediately at the current market price.
- Limit order: Executes at a specified price or better.
VI — Enter details: Input the amount you wish to trade, the price, and define whether you are buying/long or selling/short.
VII — Review & confirm: Double-check the order details and confirm the trade.
Step 4: Manage Your Position
Your position should now be visible at the bottom of the interface.
Monitor positions: Keep an eye on all your open positions, balances, and trade history by visiting the portfolio page.
Set stop-loss: Manage risk by setting stop-loss and take-profit orders.
Adjust margin: If needed, adjust the margin for your positions to avoid liquidation.
Close position: you can exit a position by simply selecting a market or limit order and executing the trade.
By following this guide, you can trade perpetual futures on the Bitoro Network via Injective confidently and efficiently. Always ensure you understand the risks involved and trade responsibly. If you have any questions, hop into our discord.
About Bitoro
Bitoro is the world’s first leveraged trading protocol and aggregator for the perpetual futures market. Our primary goal is to unify the fragmented market under one platform, providing optimal prices, fees, liquidity, incentives, and unparalleled ease of use for traders.
