# Perpetuals Trading \[NEW] In PancakeSwap Perpetuals, we've rebuilt our trading experience from the ground up — powered by Aster infrastructure, optimized for high-leverage retail traders. Instead of managing your own bridging or dealing with fragmented liquidity, PCS Perps gives you a seamless, fully on-chain trading experience with deep liquidity and up to 200× leverage on BTC. The new experience brings meaningful upgrades to PancakeSwap Perpetuals users: ### **Two Modes, One Product** Not everyone trades the same way. Simple Mode lets you go long or short in a single tap with preset sizes — no configuration needed. Pro Mode unlocks limit orders, TP/SL, and full position management for traders who want more control. Switch between modes anytime without affecting your open positions. ### **Up to 200× Leverage** PCS Perps supports up to 200× leverage on BTC — significantly higher than most retail perps products. This makes it one of the few platforms built to accommodate high-leverage trading behavior without forcing users onto a separate chain or interface. ### **CEX-Grade Execution, Onchain** PCS Perps is powered by Aster's orderbook infrastructure, bringing deep liquidity and institutional-grade execution to a fully onchain trading environment. You trade directly from your wallet — no deposits to a separate account, no custodial risk outside of liquidation events. ### **Unified Wallet Experience** Your spot and perps activity live in one place. PCS Perps integrates directly into the PancakeSwap interface, giving you a single wallet view across all your onchain positions. ### **CAKE VIP Fee Tiers \[Coming soon]** Hold CAKE in your connected wallet to unlock fee discounts on every trade. More details coming soon. ### **Revenue Tied to CAKE** 20% of all perps trading fees is routed directly to CAKE burn, linking trading activity to long-term token value. The more volume on PCS Perps, the more CAKE is removed from circulation. --- # 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.pancakeswap.finance/trade/perpetual-trading/perpetuals-trading-new.md?ask= ``` 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.