Opening a Position

Click on "Long" or "Short" on the Trade page depending on which side you would like to open a leverage position on.

Long position

• Imagine you "buy low and sell high." When you take a long position on a token, you're essentially betting that its price will increase

• If your prediction is correct, you'll earn a profit when you sell the token at a higher price. However, if the price goes down, you'll experience a loss.

Short position

• Imagine you "borrow high and sell low (and then buy back later)." When you take a short position, you're essentially betting that the price of a token will decrease. You borrow the token, sell it at a high price, and then aim to buy it back later at a lower price to return it

• If the price falls, you pocket the difference as profit. However, if the price goes up, you'll need to buy back the token at a higher price, leading to a loss.

After selecting your side, key in the amount you want to pay and the leverage you want to use.

Below the swap box you would see the "Exit Price", which is the price that is used to calculate profits if you open and then immediately close a position. The exit price will change with the price of the token you are longing or shorting.

The trading fee to open a position is 0.1% of the position size, similarly there is a 0.1% fee when closing the position.

There is also a "Borrow Fee" that is deducted at the start of every hour. This is the fee paid to the counter-party of your trade. The fee per hour will vary based on utilization, it is calculated as (assets borrowed) / (total assets in pool) * 0.01%. The "Borrow Fee" for longing or shorting is shown below the swap box.

While there are no price impacts for trades, there can be slippage due to price movements between when your trade transaction is submitted and when it is confirmed on the blockchain.

Slippage is the difference between the expected price of the trade and the execution price, this can be customised in the "Settings" menu by clicking on the "..." icon at the top right of the page.