I use dropshot a lot but I’m usually using bait and from a boat and for panfish (yellow perch, bluegill/pumpkin seed, rock bass, etc). I have also used it with plastic grubs and finesse worms.

Having said that, drop shot is fairly basic. I usually use light line (5lb test flurocarbon) with a swivel snap tied at the end and a 1 or 2 oz sinker attached to that.

For a hook I just use what looks to be the right size. While I do have specialty drop shot hooks, I often tie a regular one on the line with a dropper loop knot cinched tight to the main line (there is also a drop shot rig knot - like a surf knot).

Any pole can be used - it’s a question of the fish and your preferences. Cost-wise, it’s comparable to fishing with a Hubert blubber/slip-bobber.

I’m going to answer your question but in the middle you’ll be asking, why is this guy on about pike when I asked about perch? It’s because if you target perch, you will also come across pike as they feed similarly. If you don’t prepare for them, you might kill them.

The 5ft rod will be fine for a narrow, shallow-ish water. How wide is the canal? Depending on the tip and the size of the fish, the feeder should be good as it’ll be sensitive. It might be a bit unwieldy but people will spin in big rivers with 11ft+ rods. Just don’t use your lightest tip as you might snap it if you snag something. Is your section of the canal urban? They have all sorts of junk in! If it’s urban and concrete, grab a cheap landing mat off eBay so you don’t damage the fish on the bank.

One thing to consider is your line. Some people go heavy for two reasons. First, you can pull the fish out quicker. If you get a pike, they’re a lot more delicate out the water than they seem, and if they’re too tired when you put them back, they’ll die. Second, unlike match fishing where you just lose a hook if you get a snag with spinning, you potentially lose an expensive rig. You might get away with cheap plastics small perch, but bigger spin baits are expensive. 100lb line means the hook will bend out before the line snaps and you can reel them back and replace the hook. ( Don’t pull snags with the rod! Wrap the line round a study stick and pull.)

Do you have braid on your current setup? It won’t birds nest so much as it doesn’t twist up in the same way as e.g. fluorocarbon. And as it doesn’t stretch, you can feel the bottom and bites better. But you risk snapping a delicate tip because the rod has to do all the work. Keep this in mind if you stick a spool of heavy braid on your favourite feeder rod.

If there are perch in the water, you have to plan to catch a pike unless it’s a closed pond guaranteed to have no pike. Best to be prepared for it. If you lose a plastic bait in a pike you might kill it and it might be an old fish so don’t do that! Even worse with barbed trebels, as these might sew up the pike’s stomach. This raises three considerations.

First, strike early. Better to lose the fish than deep hook a pike. Second, you’ll want a steel leader because a like will cut through nylon easily. Perch won’t be scared by the steel leader. They’re greedy af! Third, carry long handled side cutters and long handled snipe-nosed pliers. (12" long because pike can be big!)

You’ll need the pliers in case you deep hook a pike and if that doesn’t work you can cut the hooks in half to remove the bait. If you do catch a pike and it takes a while to unhook or it’s a long fight, hold it by the tail in the water and push it back and forth to get some oxygen through its gills. It’ll have a better chance of surviving.

If you’re after perch, you might also come across Zander. More rarely, also chub. Neither one is shy, so you can still catch them with a steel leader. In shops, the smallest steel leader wire will probably be 20lb, which is a little heavy for dropshotting perch. You can buy 10lb steel wire on eBay. It might ship from China, so it could take a while, but it’s useful. It’s so thin it’s easy to knot. Whether you use 10lb or 20lb+ (you’ll want 100lb+ if you up your braid and use expensive swim baits), you’ll need 18" between the bait and the swivel because a pike might swallow 10–12" and wrap another 4–6" around their jaw because they can spin when they fight and if their teeth touch nylon, you’ve lost it.

Get swivels to match the weight of the line. This will help stop the line twisting up. Have a look for snap-on connectors for the hook end as you can then switch baits easily. Careful with some connectors because a pike’s flat mouth can snap them open. You probably want something like mustad stay-lock snaps.

As for hooks, you can get a pack of sea fishing hooks for cheap online. You might want weedless ones. You could try a Texas rig with them. They might be bigger than you’re used to. Perch will take a size 0 or bigger. If you want to go for small perch, you can make a jig hook with a size 8 barbless, a AAA split shot, and some steel leader wire. Otherwise, you’ll notice that almost all of them use lead weights. Double check the law on that in your area. If they’re legal, don’t touch your mouth after handling them.

Do not pick up perch like they pick up bass in the US! They’re related fish but they have different has mechanisms. If you pick up a perch with your thumb in its mouth, you’ll consign it to a slow death because it won’t be able to eat.

Google a picture of a canal. It’s shallow in the nearside, deeper in the middle, and shallow on the far side. But the far side tends to have more vegetation. Perch might hide in the vegetation (moreso, pike). They also like concrete structures. And they like to be in the shallow near side because that’s where the little silver fish are. If there are silvers, the perch won’t be far behind.

As they follow the silvers, you I have to try different depths and learn your water. I found they feed well in twilight but I’ve had lots of smaller ones in the middle of hot summer days.

If you’re interested, the Zander (I’m not sure if they’re in the Leeds Liverpool, but I heard they were in canals further south in the UK) will be in the deeper sections, especially near lochs or under bridges. They like the nutrients near the locks and have an eyesight advantage in dark places. They feed well in twilight and in cloudy days.

I realise this was a bit of an info dump. I hope I’ve answered your questions, but feel free to ask for more detail.