Executing Trades

Discover how traders execute orders to go long on various digital assets. These traders, called "takers", use liquidity provided by the protocol to open and close perpetual positions.

Order types

Order Type	Description
Market Order	Executes at the current market price (from the oracle + potential slippage). It’s the fastest way to enter a position.
Limit Order	Executes only if the market crosses a specific “better” price. Example: “Go long at 50k” (the price is 51k now, so if it dips to 50k, it triggers a buy).
Stop Order	Executes if the market crosses a specific “worse” price. Example: "Go long at 70k” (the price is 60k now; you want to catch momentum going upward).
Trigger Order (Stop Loss / Take Profit)	Separate from entry orders—these are conditions to close a position automatically if price hits a threshold. A network “keeper” must send the final transaction to trigger your order.

Tip: Market, Limit, and Stop are used for opening a position. A Stop Loss or Take Profit is used for closing a position once conditions are met.

Open a Position

1. Choose Market & Collateral

   • E.g., BTC/USD with “USDC” as collateral.

2. Select a side

   • E.g., long/short

3. Select Leverage

   • Type your desired multiple (1x–150x, subject to max).

4. Enter Order Type

   • Market or set a limit/stop price.

5. Confirm

   • The contract checks your collateral, calculates fees, and if valid, opens your position.

Step-by-Step Example (Market Order, Long)

1. Collateral: 500 USDC (You deposit 500 tokens into the vault).

2. Leverage: 5x => Position Notional = 2,500 UUSD.

3. Click “Open Long”

   • The protocol takes your 500 collateral, checks everything, and opens a 2,500 notional BTC/USD position at the current price (minus any slippage).

4. Fees: Suppose 0.1% open fee => 2.5 USDC is deducted from your margin.

Close a Position

You can fully or partially close.

• Market Close: Sells (or buys back) instantly at the current price.

• Partial Close: Specify how much leverage/collateral to remove.

• Trigger Close (Stop Loss / Take Profit): If price crosses your chosen threshold, a keeper can finalize the close.

Closing Fees apply, so plan for that. If your trade was profitable, leftover profits are credited from the vault to your wallet. If the trade was a loss, your collateral will be reduced accordingly.

Stop Loss & Take Profit

After opening a trade, you may set or update:

• SL: The price to close if the market moves against you.

• TP: The price to close if the market moves in your favor.

Once triggered, an external call to “TriggerTrade” finalizes it. If no one triggers it, the position remains open.