Crypto Perpetuals on Binance

By the end you will have a crypto perpetuals strategy that places leveraged long and short orders on Binance (the only live perpetuals venue today — Coinbase support is coming soon), with position sizing that accounts for leverage, funding-rate awareness, and a paper-tested webhook before any real capital is at risk.

Prerequisites

• A Nyria account with an active subscription. New here? Start with the Quick Start.
• A connected Binance account (Testnet or Live). Coinbase perpetuals support is coming soon.
• For Binance: Binance Futures enabled on the account (a one-time opt-in inside Binance). Spot-only accounts cannot trade perpetuals.
• An alert source that emits long/short entry and exit signals. This tutorial uses TradingView, but the strategy works with any source documented in Alert Sources.
• A clear answer to: what leverage am I willing to lose at? If you cannot answer this, stop and read Risk Disclosure first.

Long vs short — what changes on a perpetual

A perpetual future is a derivative that tracks the underlying spot price but never expires. You can hold a long or a short indefinitely, paid for via the funding rate (see below).

On Nyria, long and short are configured independently per direction in your strategy. You can:

• Enable long entries and short entries (a true two-way strategy).
• Enable only one direction (e.g. long-only momentum on BTC).
• Use one direction's entry alert to close the opposite direction (the Exit Opposite behavior — useful when your alert source emits "flip" signals rather than separate close signals).

Funding rate — the cost of holding

Funding is the cash payment that keeps the perpetual price tethered to spot. Both Binance and Coinbase settle funding every 8 hours (3 times per day).

• Positive funding (the common case in bull markets): longs pay shorts. Holding a long costs you the funding rate every 8 hours.
• Negative funding (common in panic selldowns): shorts pay longs. Holding a short costs you.
• The dollar amount is position_notional * funding_rate. On a $10,000 notional BTC long at 0.01% funding, you pay $1 every 8 hours — small, but compounds, and spikes during volatility.

Funding is paid out of your margin balance. Nyria does not pre-fund a buffer for funding payments — if funding drains your margin below the maintenance level, the exchange liquidates the position. Treat funding as a recurring tax on the position size, not on your account balance.

Check the live funding rate inside the exchange UI before sizing a position you plan to hold across multiple funding windows. Binance and Coinbase both publish it on the perpetual's contract page.

Position sizing for perpetuals

Sizing a perpetual is not the same as sizing a spot order. You are sizing two things at once:

1. Notional exposure — the value of the position to the market (quantity * mark_price). This is what moves with price.
2. Margin posted — the collateral the exchange holds against the position (notional / leverage). This is what you can lose to liquidation.

Nyria's bot sizing config controls margin posted, not notional. Your strategy's leverage setting then multiplies that into notional exposure.

Worked example — BTC at $60,000, 5x leverage, $200 budget:

• Margin posted: $200.
• Notional exposure: $200 × 5 = $1,000.
• Quantity: $1,000 / $60,000 ≈ 0.01666 BTC.
• Approximate liquidation distance from entry: ~20% adverse move (less fees, less the exchange's maintenance margin buffer — exact number is shown in the exchange UI after the order fills).

The mental model: a higher leverage number means a smaller quantity is not placed — the same dollar budget is placed with a closer liquidation price. Doubling leverage from 5x to 10x on the same $200 budget moves you from a ~20% liquidation buffer to ~10%, while doubling the funding cost.

Margin warnings — read this before going live

• Insufficient margin rejections appear in your bot logs as No available balance (...). The order is dropped, the alert is not retried. If you see these during a planned entry, your margin posted plus existing positions exceeds the account's free collateral.
• Funding-rate drain. A position held flat for a week at 0.03% positive funding across all eight-hour windows pays ~0.63% of notional in funding. On a 10x position that is ~6.3% of your margin gone with no price movement. Plan exit rules accordingly.
• Auto-deleveraging (ADL). When the exchange's insurance fund cannot cover a counterparty's liquidation, profitable opposing positions are forcibly closed at the bankruptcy price. ADL is rare but real on Binance perpetuals in extreme volatility. There is no Nyria-side mitigation.
• Maintenance-margin tier changes. Both exchanges tier maintenance margin by notional size. A position that grows (via pyramiding) into a higher tier may have a worse liquidation price than the first entry showed. Check the tier table in the exchange UI before scaling in.

Step 1: Decide the contract spec before you create the strategy

Pick one primary trading pair for the first iteration. Multi-symbol strategies are supported, but a one-symbol setup is faster to debug.

Worksheet — fill these in before continuing:

Step 2: Create the strategy in Nyria

Step 3: Validate the alert format

Nyria requires that you send a sample alert for each direction you enabled, so it can confirm the parser extracts the symbol and direction correctly. The validator runs the alert through the same parser the live webhook uses.

Sample long entry — JSON payload:

{
  "ticker": "BTCUSDT",
  "action": "buy",
  "direction": "long"
}

Sample short entry — JSON payload:

{
  "ticker": "BTCUSDT",
  "action": "sell",
  "direction": "short"
}

Sample long exit — JSON payload:

{
  "ticker": "BTCUSDT",
  "action": "exit",
  "direction": "long"
}

Sample short exit — JSON payload:

{
  "ticker": "BTCUSDT",
  "action": "exit",
  "direction": "short"
}

For the complete payload field list (price overrides, position size overrides, strategy variants), see Webhook Reference.

Step 4: Wire the alert source

The Pine Script below is a template — it emits a single message that Nyria's parser turns into the JSON above. Replace the strategy.entry / strategy.close lines with your own signal logic.

//@version=5
strategy("Nyria Perp Long/Short Template", overlay=true)

// --- your signal logic goes here ---
longCondition = ta.crossover(ta.sma(close, 9), ta.sma(close, 21))
shortCondition = ta.crossunder(ta.sma(close, 9), ta.sma(close, 21))

if longCondition
    strategy.close("short", comment='{"ticker":"BTCUSDT","action":"exit","direction":"short"}')
    strategy.entry("long",  strategy.long,  comment='{"ticker":"BTCUSDT","action":"buy","direction":"long"}')

if shortCondition
    strategy.close("long",  comment='{"ticker":"BTCUSDT","action":"exit","direction":"long"}')
    strategy.entry("short", strategy.short, comment='{"ticker":"BTCUSDT","action":"sell","direction":"short"}')

// In your TradingView alert: set "Message" to {{strategy.order.comment}}
// and "Webhook URL" to your strategy's https://trades.nyria.io/webhooks/... URL.

To use this:

1. Paste it into the Pine editor and Add to chart.
2. Click the alert clock on the strategy, set Condition to Any alert() function call, set Message to {{strategy.order.comment}}, and set the Webhook URL to your Nyria strategy webhook.
3. Save the alert. TradingView will now POST the JSON in the comment field whenever Pine fires strategy.entry or strategy.close.

For the cURL equivalent (useful when testing without TradingView):

curl -X POST https://trades.nyria.io/webhooks/REPLACE_WITH_YOUR_STRATEGY_TOKEN \
  -H "Content-Type: application/json" \
  -d '{"ticker":"BTCUSDT","action":"buy","direction":"long"}'

Replace REPLACE_WITH_YOUR_STRATEGY_TOKEN with the token from your strategy's Integration tab.

Step 5: Deploy a bot on Testnet (or a tiny live budget)

Do not point this at a real-money account on its first live alert. Use Binance Testnet first.

Step 6: Watch the first round-trip

When your first alert hits the webhook, two log streams update:

• Strategy logs (visible to anyone with view access to the strategy) record that the alert was parsed.
• Bot logs (visible only to you) record that your bot sized the order and the broker accepted, rejected, or errored.

Open both tabs side-by-side for the first entry. Common first-time issues:

Step 7: Promote to live

Only after you have observed at least five full round-trips on Testnet (or a tiny live budget) with no error-level bot logs:

1. Stop the Testnet bot.
2. Create a new bot pointing at the Live Binance account.
3. Start with a budget no larger than what you are willing to lose entirely on the first trade. Liquidation is a real outcome, not a theoretical one.
4. Monitor for the first 24 hours, especially across a funding window (every 8 hours on the hour, UTC-aligned on both exchanges).

Reference — Binance vs Coinbase perpetuals on Nyria

Coinbase columns describe the planned integration — Coinbase perpetuals are coming soon and cannot be connected yet.

For broker-side setup details, see the per-broker pages: Binance, Coinbase. For the exact webhook payload schema, see Webhook Reference.

Common pitfalls

• Sizing in dollars-of-notional instead of dollars-of-margin. Nyria's budget is margin. A $1,000 budget at 10× is $10,000 of notional. If you meant $1,000 of notional, set the budget to $100.
• Forgetting that pyramiding compounds margin, not just notional. Three pyramided 10× entries at $100 each = $3,000 notional and $300 of margin tied up. The fourth entry can fail with Insufficient margin long before you intended.
• Holding through funding without a budget for it. A 10× long held for 30 days at 0.01% per 8-hour window (the long-run BTC average) pays roughly 0.09% per day of notional, or ~2.7% per month. On 10× margin that is ~27% of margin lost to funding alone, before any price movement.
• Assuming exit alerts close all entries. Nyria's exit logic closes positions in the direction the exit alert specifies. If you pyramided three long entries, a single long-exit alert closes all three (Nyria flattens by direction, not by entry). If you want partial closes, you must send multiple exits with explicit quantities — see Webhook Reference.
• Switching leverage after the position is open. Both exchanges only allow leverage changes on flat positions. Changing the strategy's leverage field while a bot has an open position has no effect on that position — it only applies to the next entry.

Next steps

• Bots — pyramiding, budget modes, and pause rules.
• Trading Behavior — the full matrix of entry/exit/flip behaviors.
• Risk Disclosure — read before going live.
• Binance broker reference
• Coinbase broker reference
• Webhook Reference — every field the parser will recognize.