Trading Features
All trading in Rails Play takes place in a live market environment with simulated capital. Fees are charged to mirror a real-world trading environment.
Read on or jump to each section below:
Basics of Perpetuals Trading
What Are Perpetuals (Perps)?
Perpetual futures, or "perps," are derivative contracts that track an underlying asset's price with no expiration date. Unlike traditional futures, you can maintain a perp position indefinitely, provided you have sufficient margin. Margin, acting as collateral, allows you to manage a position larger than your account balance using leverage.
Note: Perpetual trading is high risk. This content is not investment advice, and results are not guaranteed.
When trading perps, you can express a market view in either direction:
Long (Buy): You profit if the price rises.
Short (Sell): You profit if the price falls.
Both long and short positions require disciplined risk management. Price movement, position size, leverage all matter — regardless of direction.
Orders
Order execution is a fundamental trading skill. Rails Play supports the same core order mechanics used in professional trading environments:
Market Orders: Execute immediately at the best available price.
Limit Orders: Execute only at a specified price or better.
Trigger Orders: Trigger trades when predefined price levels are reached to manage your risk should the market move when you're not actively trading.
How to place orders:
Once you're ready to place an order:
Check all available order types and confirm the information you need.
Go to the Order Panel, and input all required information.
Select the buy/sell button when you're ready to place your order.
You'll see your orders move through the Trade Summary panel, under the corresponding tabs as your order executes.
Available order types:
Market Order
A market order on Rails Play is an order to buy or sell an asset immediately at the current index price. This makes it the fastest and easiest order type to execute because they prioritize speed over price.
What's Required:
Three pieces of information are required to place a market order in Rails Prop:
Order side: Choose a Buy/Long or Sell/Short order.
Leverage: Choose how much leverage you wish to open your position with.
Total: Choose the amount of your order by quantity or value:
Quantity (#): How many units (or partial units) of the asset you are trading.
Total ($): How much you will pay not including any associated fees.
Pro tips:
Percentage Slider: Use the percentage (%) slider to easily choose an amount:
Trigger Orders: Once you have a valid order input, the TP/SL function from the order panel allows you to quickly add a Take Profit or Stop Loss Order order before you place your order:
Limit Order
Limit orders enable you to buy or sell an asset at a specified price or better.
When placing a limit order to buy, it will only be executed at the limit price or lower, enabling you to control how much you pay. Conversely, a limit order to sell will only be executed at the limit price or higher.
What's Required:
Four pieces of information are required to place a limit order:
Order Side: Choose a Buy/Long or Sell/Short order.
Leverage: Choose how much leverage you wish to open the position with.
Price: Enter the price you want your order to be executed at.
Total: Choose the amount of your order by quantity or value:
Quantity (#): How many units (or partial units) of the asset you are trading.
Total ($): How much you will pay not including any associated fees.
Pro tips:
Percentage Slider: Use the percentage (%) slider to easily choose an amount:
Trigger Orders: Once you have a valid order input, the TP/SL function from the order panel allows you to quickly add a Take Profit or Stop Loss Order order before you place your order:
Trigger Order Shortcut
You can also use the pen icon in the Take Profit (TP)/Stop Loss (SL) column for any open position in the Trade Summary panel to access the shortcut for Modify TP/SL. When you already have an open position, this is the quickest and simplest way to add a TP or SL trigger order:
This will then bring up the TP/SL modal:
Enter the price and % of your position that you'd like, and select confirm.
You'll see the updated TP/SL values, and your trigger orders will show in the trigger orders tab in your position summary:
Leverage
Leverage lets you control a larger position while posting a smaller amount of margin. It’s shown as a multiple (e.g., 3×, 5×) and defines your total market exposure relative to your collateral. Leverage increases your position size without changing how the market moves — but it does amplify your exposure. The same price move has a larger impact on your P&L, increasing both potential losses and the risk of failing your evaluation.
Margin is the capital you commit as collateral to open and maintain a leveraged position. It’s not the full value of the trade — it’s the portion you post to support the exposure you’re taking.
Rails Play Evaluations support 1×, 3×, and 5× leverage on all assets and use cross leverage at the account level, meaning:
Leverage is shared across your entire account, not set per individual position.
Your leverage setting can only be changed when all positions are closed.
For example, if you open a $15,000 position:
At 1× leverage, you provide the full $15,000 as margin.
At 3× leverage, you provide $5,000 as margin.
At 5× leverage, you provide $3,000 as margin.
In Perps trading, leverage increases capital efficiency — but also increases risk. Price movements apply to the full position size, and not just your margin. This means profits and losses are magnified by the leverage you use.
Requires less initial margin
Amplifies gains and losses
Requires more margin
Provides greater tolerance for price fluctuations
Price Data
Similar to the Rails platform, Rails Play uses aggregated index data from multiple reputable sources. Our primary feed is the Coindesk Aggregate Index API - CCIX. If CCIX is unavailable, we switch to CoinDesk Aggregate Index API - CCCAGGP, and then Kraken’s Ticket (Level 1) API).
Since alternate feeds and charts may not align perfectly with Rails Play pricing, we recommend using the built-in charting tool within Rails Play.