> ## Documentation Index
> Fetch the complete documentation index at: https://yieldxyz.mintlify.site/llms.txt
> Use this file to discover all available pages before exploring further.

# Trade

> Trade directional positions through the Perps API, with tokenized stock exposure coming next.

Trade covers directional, order-book-style positions: open, manage, and close a position against a market instead of entering a recurring-income yield. Every action returns unsigned transactions for you to sign and submit: we construct, you sign.

| Product | Status | API |
| - | - | - |
| [Perps](/documentation/trade/perps) | Live | Perps API |
| [Tokenized Stocks](/documentation/trade/tokenized-stocks) | Upcoming | Not available today |

Perps trades perpetual futures through Hyperliquid. Perps trading carries jurisdictional restrictions: read the [perpetuals disclaimer](/legal/perpetuals-disclaimer) before integrating.

Tokenized Stocks will add on-chain equity exposure to Trade. It has no API surface today: see the [Tokenized Stocks](/documentation/trade/tokenized-stocks) page for what's confirmed so far.

## Next steps

<Columns cols={2}>
  <Card title="Perps" icon="chart-candlestick" href="/documentation/trade/perps">
    Discover markets, open positions, and manage them through the Perps API.
  </Card>

  <Card title="Tokenized Stocks" icon="chart-line" href="/documentation/trade/tokenized-stocks">
    What's confirmed about the upcoming equities product.
  </Card>

  <Card title="Core concepts" icon="shapes" href="/documentation/trade/core-concepts/index">
    The ideas behind a Trade integration.
  </Card>

  <Card title="Coverage" icon="table" href="/documentation/trade/coverage">
    Live and upcoming providers, networks, and markets.
  </Card>

  <Card title="Monetization" icon="percent" href="/documentation/trade/monetization">
    How the builder fee works and where it's configured.
  </Card>
</Columns>


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