Your next move. Spot or Perps.
Swap MON and USDC through Kuru, or trade AUSD-funded BTC perpetuals on Perpl. Keep trading balances separate from your Earn vaults. Perps include an optional, capped reserve for margin top-ups; it reduces some liquidation exposure but cannot guarantee protection.
Available in the local fork demo with synthetic funds. The Perps demo uses a disclosed historical-price fixture. Public trading is closed.
A budget, not a blank cheque.
- 01
Set a budget
Move AUSD into a protection reserve and choose the most Setsuna may ever add. That cap is enforced by the contract.
- 02
Choose when it steps in
Early, balanced or late: how close to maintenance margin a position may drift before margin is added.
- 03
Margin arrives in the instant
When a position nears the line, Setsuna tops it up from the reserve. It never opens, closes or resizes a trade.
You decide how close is too close.
| Setting | Steps in at | Restores to | In practice |
|---|---|---|---|
| Early | +60% over maintenance | +120% over maintenance | Acts well before danger. Uses more budget, sleeps better. |
| Balanced | +30% over maintenance | +70% over maintenance | Acts with room to spare. The sensible default. |
| Late | +12% over maintenance | +35% over maintenance | Acts close to the line. Spends least, cuts it finest. |
On Perpl, 64 of 584 active accounts added margin by hand in the 7 days to 28 Sep 2026, and 81 positions were liquidated. Trading collateral and the protection reserve use AUSD; Earn shares are never used as collateral.