# Place a perpetual order

This guide walks through opening a leveraged perpetual position on one of Pod's perp markets. For background, see [Perpetuals](https://docs.v2.pod.network/documentation/markets/perpetuals) and [Market Configurations](/guides-references/references/market-configurations.md) for the live perp market list.

Perpetual markets are quoted in **USD** and use cross-margin: a single USD deposit serves as collateral for all open perp positions on the account. `size` is the order quantity in **base-asset units** and is signed — positive opens a long, negative opens a short. Margin is computed by the market from `|size| × price / maxLeverage`.

See the [Orderbook precompile reference](/guides-references/references/applications-precompiles/orderbook.md) for the timestamp unit, deadline-alignment, and TTL rules that apply to every call below.

## Steps

1. Deposit USD as margin into the orderbook contract.
2. Submit a limit order for the perp market (e.g. NVDA-USD).

{% tabs %}
{% tab title="TypeScript (ethers.js)" %}

```typescript
import { ethers } from "ethers";

const provider = new ethers.JsonRpcProvider("https://rpc.podtestnet.dev");
const wallet = new ethers.Wallet(PRIVATE_KEY, provider);

const ORDERBOOK = "0x50d0000000000000000000000000000000000002";
const abi = [
  "function deposit(address token, address recipient, uint256 amount, uint128 deadline)",
  "function submitOrder(bytes32 orderbookId, int256 size, uint256 price, uint8 orderType, uint128 deadline, uint128 ttl, bool reduceOnly, bool ioc)",
];
const orderbook = new ethers.Contract(ORDERBOOK, abi, wallet);

// USD is Pod's native token — use the canonical native-token sentinel address
const USD = "0xEeeeeEeeeEeEeeEeEeEeeEEEeeeeEeeeeeeeEEeE";
const nvdaPerpId = "0x0000000000000000000000000000000000000000000000000000000000000007"; // NVDA-USD perp (max 20x)
const now = BigInt(Date.now()) * 1000n; // microseconds

// 1. Deposit USD margin
const margin = ethers.parseEther("1000"); // 1,000 USD
await (await orderbook.deposit(USD, wallet.address, margin, now + 60_000_000n)).wait();

// 2. Open a long on NVDA-USD: 5 NVDA at $140 limit
const size = ethers.parseEther("5");          // +5 NVDA long (negative = short)
const price = ethers.parseEther("140");       // limit price in USD
const orderType = 0;                          // 0 = Limit
const deadline = now + 10_000_000n;
const ttl = 60n * 1_000_000n;

const tx = await orderbook.submitOrder(
  nvdaPerpId, size, price, orderType, deadline, ttl,
  false,    // reduceOnly — set true to only close existing positions
  false,    // ioc
);
console.log("Perp order tx:", tx.hash);
```

{% endtab %}

{% tab title="Rust (alloy)" %}

```rust
use alloy::providers::ProviderBuilder;
use alloy::signers::local::PrivateKeySigner;
use alloy::sol;
use alloy::primitives::{U256, I256, FixedBytes};

sol! {
    #[sol(rpc)]
    contract Orderbook {
        function deposit(address token, address recipient, uint256 amount, uint128 deadline) public;
        enum OrderType { Limit, Market }
        function submitOrder(
            bytes32 orderbookId, int256 size, uint256 price,
            OrderType orderType, uint128 deadline, uint128 ttl,
            bool reduceOnly, bool ioc
        ) public;
    }
}

let signer: PrivateKeySigner = PRIVATE_KEY.parse()?;
let provider = ProviderBuilder::new()
    .wallet(signer.clone())
    .on_http("https://rpc.podtestnet.dev".parse()?);

let orderbook = Orderbook::new(
    "0x50d0000000000000000000000000000000000002".parse()?,
    &provider,
);

// USD is Pod's native token — use the canonical native-token sentinel address
let pusd: Address = "0xEeeeeEeeeEeEeeEeEeEeeEEEeeeeEeeeeeeeEEeE".parse()?;
let nvda_perp_id = FixedBytes::left_padding_from(&[7]); // NVDA-USD perp (max 20x)
let now_us = std::time::SystemTime::now()
    .duration_since(std::time::UNIX_EPOCH)?
    .as_micros() as u128;
let one_e18 = U256::from(10).pow(U256::from(18));

// 1. Deposit USD margin
let margin = U256::from(1000) * one_e18;
orderbook
    .deposit(pusd, signer.address(), margin, now_us + 60_000_000)
    .send().await?.watch().await?;

// 2. Open a long on NVDA-USD: 5 NVDA at $140 limit
let size = I256::from_raw(U256::from(5) * one_e18);   // +5 NVDA long
let price = U256::from(140) * one_e18;                // limit price in USD
let deadline = now_us + 10_000_000;
let ttl = 60 * 1_000_000;

let tx = orderbook
    .submitOrder(
        nvda_perp_id, size, price, Orderbook::OrderType::Limit, deadline, ttl,
        false,        // reduceOnly — set true to only close existing positions
        false,        // ioc
    )
    .send().await?;
println!("Perp order tx: {:?}", tx.tx_hash());
```

{% endtab %}
{% endtabs %}

## Closing a position

Submit an opposite-sided order with `reduceOnly = true`. Reduce-only orders can only decrease your existing exposure — they will be rejected if matching them would flip your position direction or open a new one.

{% hint style="info" %}
**Market leverage.** Each perp market has a fixed `maxLeverage` set at creation (20x on every testnet perp). It determines the margin required per position — there's no per-order leverage to set.
{% endhint %}


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://docs.v2.pod.network/guides-references/guides/place-a-perpetual-order.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.