Adding and Opening Positions
Last updated
Last updated
First, approve the selected margin + potential premiums on the long/short/swap section. You will need to approve more than your margin(for the premium deposit when a position is added)
Enter the desired margin and leverage, and click execute. A modal will pop up that simulates and summarizes your newly added position.
The required payment shown is your margin + initial premium deposit.
You can increase your initial premium deposit using the settings(using the settings icon) if you want your position to last longer. Otherwise, you can always choose to replenish your deposit in the position manager.
Once click confirm position, a new position will be opened for you or a position will be added to your existing position(same pair, same direction).
Your position will be force closed when your initial premium deposit depletes. You need to increase your deposit using the position manager if you want to keep your position open.
The leverage slider will show what is the maximum leverage available for your margin, given current liquidity conditions. You will not be able to take a position that exceeds this leverage unless you lower your margin.
Proceed to the limit section, enter the desired price at which your position will be added, enter your desired margin and leverage, and place an order.
The order will be at default valid for 100 minutes, but you can modify this in the settings. Note that while you can make your order valid indefinitely, there is a chance that the order might not be filled if it is too old(due to different borrowed liquidity profiles).
Similarly to market orders, you will need to deposit a certain amount of premiums for your position will be filled. Your position will borrow from the AMM at the instant the order is filled, so your deposit will remain untouched and will start being used only after it is filled.
You can check your order status on the order tab, which will exist until it is filled. When you cancel your order, you will get your premium deposit back.
