Trading hours. Parquet trades 24/7. During regular US trading hours (Mon–Fri 09:30–16:00 ET, minus US market holidays) prices track the live US equity market. Off-hours and weekends, pricing comes from an off-exchange reference feed. A banner at the top of the app tells you whether the market is in regular trading hours, transitioning between sessions, or off-hours — off-hours the per-market open-interest cap is tighter than RTH (5M) and an ADL tail-backstop is armed; the leverage tiers are the same in every session (see risks).
The flow below is identical on both clusters — only the funding source changes (real Solana USDC
EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v on mainnet vs. devnet mock USDC faucet).New to wallets? Start with wallet setup first. New to perpetual swaps? Read introduction.
Connect your wallet
Open
https://parquet.exchange/trade and click Connect. Pick the wallet you funded with USDC. The header should show your address truncated and your USDC balance.Pick a market
The sidebar lists every active market. For your first trade, choose AAPL (Apple) or SPY (S&P 500 ETF) — both are typically the most liquid markets during US RTH. The chart and the trade panel switch to the selected symbol. Fills happen at the oracle/mark price against the USDC liquidity pool — there is no bid/ask order book to match against. (If you place limit, stop, or take-profit orders, you will see those pending trigger orders listed separately.)
Configure the trade
In the trade panel:
- Select Long (you profit if mark price rises) or Short (you profit if it falls).
- Drag the leverage slider. The maximum is tiered by position size — up to 200× for the smallest (wallet-market notional ≤ 1M), and the same in every session (set by the 50 bps initial margin). Start low — 2× or 3× — while you are learning. At 200× a brand-new position sits essentially at its liquidation point once the open fee is taken — the smallest move against you can wipe it out almost immediately.
- Enter collateral in USDC. The protocol minimum is $10 per position; the trade panel blocks smaller amounts.
- Set slippage tolerance (in basis points). The default is sized for normal market volatility.
Review the fee
Hover the fee row. The opening fee is 0.1% of notional. If your trade reduces the market’s open-interest imbalance (for example: longs are dominant and you are opening a short — or vice versa), the rate drops to 0.05%. The tooltip tells you which rate you will pay.
Open the position
Click Open. Your wallet pops up to sign the transaction. Once it confirms, the trade panel clears and a toast confirms the fill.
Watch your position
Switch to the Positions tab. Your new row shows entry price, current mark, unrealized PnL, ROI, and liquidation price. The liq price is the level at which your equity hits the maintenance-margin threshold of 40 bps (venue-wide). See liquidations for the math, and margin management if you want to add or remove collateral to move that line.Positions stay open across nights, weekends, and holidays — and the venue stays open too. You can close a position or adjust its margin at any time — and, as on any leveraged venue, a position can be liquidated at any time (including nights and weekends) if its equity falls below the maintenance-margin level. Outside RTH the off-hours risk-parameter column applies (the same leverage tiers, a 5M OI cap per market, and an armed ADL tail-backstop). Funding and borrow fees accrue continuously.
Close out
Click Close in the position row to open the position-detail panel. Confirm full close (or partial, by entering a smaller size) and sign. Your realized profit normally settles to your wallet in the same transaction. If the pool’s reserves are temporarily drawn down, your payout is queued and paid in turn (see the next paragraph) — you are still paid in full.If a profit close cannot settle in-line — because vault reserves are temporarily drawn down — the close still goes through and your payout is enqueued. The Positions tab shows a Queued row and a ticket number. See payout queue for how the FIFO queue drains.