Flipper V1 and Flipper V2

Understand the differences between the Flipper V1 and Flipper V2 trading experiences.

Flipper V1 and Flipper V2 are two separate versions of the Flipper trading experience.

They belong to the same ecosystem, but their account setup, execution, balance, and risk-management mechanics are different.

Compare the Versions

Topic	Flipper V1	Flipper V2
Main trading model	Routing through supported venues, including split execution where available	Orderbook-based perpetual futures execution
Networks	The V1 documentation describes the Solana-based release	Account funding through the networks supported in the V2 interface
Getting started	Connect a wallet and follow the V1 deposit and trading flow	Connect a wallet, create a trading account, enable trading, and deposit collateral
Order setup	Venue and routing conditions affect execution	Order type, direction, quantity, margin mode, and leverage affect execution
Risk mechanics	V1 margin, Health Factor, Stop-out Protection, and venue liquidation rules	Account margin, mark price, funding, and liquidation rules
Documentation	Flipper V1 sections	Flipper V2 sections

V1 routing and split-execution mechanics should not be applied to V2 orders.

Which Guide Should I Use?

Use the Flipper V2 documentation if the interface asks you to:

• connect a wallet;

• create a trading account;

• enable trading;

• deposit funds into a V2 trading balance;

• place orders through the V2 orderbook interface.

Use the Flipper V1 documentation if you are trading through the V1 interface with Smart Routing or Manual Mode.

Features shared by the wider Flipper platform do not make V1 and V2 account mechanics interchangeable.

Balances and Existing Positions

Do not assume that balances or positions are automatically transferred between V1 and V2.

Before moving funds or opening replacement exposure, check:

• the product version;

• the connected wallet address;

• the trading account;

• the account balance;

• pending orders;

• open positions.

Opening a position in V2 does not close a position in V1.

Complete any required V1 withdrawal through the relevant V1 flow before making a separate V2 deposit, unless Flipper explicitly provides an official transfer flow.

Security and Audits

Security audits are scope-specific.

An audit covering V1 contracts does not automatically cover V2 contracts or every external component used by the platform.

Always check the product version, contracts, and audit scope listed in the Security section.