---
title: "Overview"
description: "What this exchange is, where your money sits, and what you are signing."
---

> Documentation Index
> Fetch the complete documentation index at: https://docs.floatout.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Overview

This is a perpetuals exchange running on Hyperliquid.

## What that means for you

**Your funds stay yours.** Deposits go to your own Hyperliquid account, tied to your wallet
address. This site never holds them, never takes custody, and cannot move them. Close this tab
forever and your balance and positions are still there, reachable from any Hyperliquid app with
the same wallet.

**Your orders go to the real book.** They land on Hyperliquid's on-chain order book and match
against every other order on it, not against an internal pool and not against the house. The
price you see is the market price, not a quote.

**Your account is the same everywhere.** Balance, positions, order history and trade history all
live at the protocol level. This site is a window onto them.

## What you pay

Three separate things, and it helps to keep them apart:

| | Goes to | When |
|---|---|---|
| Trading fees | Hyperliquid | Every fill |
| Funding | The other side of your trade | Hourly, while a perp position is open |
| Builder fee | This DEX | Every fill, at a rate you approve up front |

The builder fee is the one that belongs to this site. You approve a maximum rate once, before
your first trade, and it can never be charged above that. Hyperliquid caps it in any case: at
most 0.1% per fill on perps.

## Perpetuals, briefly

A perp tracks the price of an asset with no expiry, so you can hold as long as you keep enough
margin. Funding is the mechanism that keeps it near the spot price: when the perp trades above
spot, longs pay shorts, and when it trades below, shorts pay longs.

Leverage multiplies both directions. If your margin runs out, the position is liquidated by the
protocol, not by us, and we cannot pause or reverse that.

## Next

[Make your first trade](/start/first-trade) is the practical version: connect, fund, approve,
place an order.

Source: https://docs.floatout.trade/start/index.mdx