> For the complete documentation index, see [llms.txt](https://perps.gitbook.io/perps./llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://perps.gitbook.io/perps./overview/trader-guide.md).

# Trader Guide

This guide is for users who want to explore and trade creator markets during the public testnet.

## Before You Trade

Make sure you have:

* Signed in.
* Connected a wallet.
* Switched to Base Sepolia.
* Claimed or received testnet funds.
* Opened a supported creator market.

{% hint style="warning" %}
Use small test trades first. Perpetual markets use leverage and liquidation mechanics, even in testnet.
{% endhint %}

## Explore Markets

Use Explore or a featured market link to find available creator markets. A creator market may show:

* Creator identity and profile details.
* Token or market symbol.
* Price and recent activity.
* Spot-market lifecycle status.
* Perpetual-market readiness.
* Creator rank and XP.

## Spot Trading

Spot trading lets you buy or sell a creator token against its bonding curve. Price changes as trading progresses along the curve.

Use spot trading if you want simple creator-token exposure without leverage.

## Perpetual Trading

Perpetual trading lets you open leveraged long or short positions on supported markets.

* Long means you benefit if the market moves up.
* Short means you benefit if the market moves down.
* Higher leverage increases both upside sensitivity and liquidation risk.
* Funding may be paid or received depending on market conditions.

## Track Your Activity

Open your profile to review:

* Open positions.
* Trade activity.
* Progress, XP, badges, and rank.

XP and badges are participation signals. They do not change trade execution, balances, or liquidation behavior.