Long, Short & Hedge Mode

Going long or short on Yellow.pro perpetuals, and using two-way (hedge) mode to hold both directions on the same pair at once.

In perpetual trading you can profit in both rising and falling markets by choosing your position direction — and, with hedge mode, hold both directions on the same pair at once.

Going Long

When you go long, you're betting the price will increase. You profit if it rises and lose if it falls.

Example: open a long on ETH-USDT at 2,000 with 10x leverage; ETH rises to 2,200 → your position gains 200 USDT per ETH, amplified by leverage relative to the margin used.

Simplified: PnL = (Exit Price − Entry Price) × Position Size. If the price falls far enough, the position is liquidated.

Going Short

When you go short, you're betting the price will decrease. You profit if it falls and lose if it rises.

Example: open a short on ETH-USDT at 2,000 with 10x leverage; ETH drops to 1,800 → your position gains 200 USDT per ETH.

Simplified: PnL = (Entry Price − Exit Price) × Position Size. Losses on a short are theoretically unlimited if the price keeps rising, so risk management is especially important.

	Long	Short
Market view	Bullish (price up)	Bearish (price down)
Profit when	Price rises	Price falls
Loss when	Price falls	Price rises
Max loss	Position size (100%)	Unlimited (price can rise infinitely)

One-Way vs Two-Way (Hedge) Mode

Yellow.pro currently uses Two-Way Mode (Hedge Mode) by default — you can hold a long and a short on the same pair simultaneously, independently of each other.

One-Way Mode — where you hold only one direction per market, and opening the opposite side reduces or closes your existing position — will be supported in a future update.

A long and a short position held on the same market at the same time in Two-Way (Hedge) Mode

	One-Way Mode	Two-Way Mode
Long + short on same pair	Not allowed	Allowed
Opening opposite side	Reduces/closes existing position	Creates a new independent position
Complexity	Lower	Higher
Best for	Directional traders	Hedging strategies

When to use hedge mode

• Hedging a long — open a short to offset a temporary decline without closing your long.

• Strategy separation — run a longer-term long and a short-term short, tracked separately.

• Reducing directional bias — test both sides and close whichever proves wrong.

Each direction is an independent position with its own entry price, size, and PnL. In cross margin, both draw from the same balance. Hedge mode does not eliminate risk — both positions can lose in a choppy market.

Related Articles

• Margin & Leverage

• Understanding PnL

• Risk & Liquidation