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Step 1: Determine Your Preference: Choose between a Long or Short position:
Long Position: Profit from a rising token price but incur losses if it falls.
Short Position: Gain from a declining token price but face losses if it rises.
Step 2: Configure Your Trade:
Specify your desired payment amount and select the preferred leverage.
Note the "Exit Price" below the swap box, which dictates your earnings if you initiate and immediately close a transaction. Keep in mind that the token's price, whether you're longing or shorting, will influence the exit price.
Fees
Opening a position incurs a 0.04% fee based on the position size.
Similarly, there's a 0.04% fee when closing a position.
Borrow Fee: The fee for longing or shorting is displayed below the swap box and is deducted hourly.
Price Impacts & Slippage
Trades typically experience minimal price impacts.
However, slippage may occur due to price fluctuations between submitting your trade and blockchain confirmation. You can customize slippage by clicking the "..." icon next to your address at the top right.
After opening a trade, monitor it within the "Open Positions" section.
Click "Edit" to manage collateral, adjust leverage, and control liquidation prices.
Your profit or loss corresponds to your position size, with leverage calculated as (position size + PnL) / (position collateral).
Step 1: Access the "Close" menu.
Step 2: Select the "Stop" tab.
Step 3: Create your trigger order, which will appear in your position's row and the "Orders" tab. You can edit the trigger price if needed.
Note: Order execution isn't guaranteed and depends on factors like the target price, market conditions, and liquidity.
Use the "Close" button to efficiently close your position, in full or partially.
Profits in long positions are paid in the asset you're longing, while short positions yield stablecoins.
The system promptly switches to your preferred asset for payout when you close a position, ensuring flexibility.
Liquidation occurs when (collateral - losses - borrow fee) falls below 1% of your investment.
Monitor your liquidation price, especially with high leverage, as borrow fees can impact it.
Surplus collateral after losses and expenses is returned to your account.
