Learn how to repay open borrow positions on Vertex.
On Vertex, trading is simple and efficient. An outstanding trading experience also requires enhanced risk management, which is why Vertex introduces tools like Health Check.
The Repay feature allows traders to easily repay borrows on Vertex via depositing or converting another asset, taking the guesswork out of the equation.
In this tutorial, you will learn how to complete a Repay on Vertex.
Users can always manually repay by:
- Using the Deposit pop-up to deposit the asset.
- Buying the asset on one of Vertex’s spot markets.
However, the Repay Modal makes it easy to repay a borrow and takes the manual guesswork out of it.
Tip – If you are ever unsure of a term, term hovering over it to see the tooltip.
- To repay a borrow, press the
Repaybutton and initiate a pop-up.
- Repay buttons can be found:
- In the Control Centre.
- On the borrows and balances table (click on the three-dot dropdown).
- There are two options for Repaying:
- Deposit = Deposit the asset currently borrowed from your wallet into Vertex.
- Convert = Buy back the asset borrowed on a Vertex spot market.
- Both serve to clear or reduce a borrow balance
- After selecting deposit or convert, you'll need to pic
- Click on the Asset drop-down and select the borrow to repay.
- If repaying non-USDC borrow, users must buy that asset back using USDC.
- Amount Borrowing = Amount of the selected asset currently borrowed.
- Available = The amount available to deposit if depositing from a wallet OR the amount of an asset available to sell (without leverage).
- Balance = Current balance of a selected asset. Negative balances represent borrowing.
- Enter the amount to repay.
- Press on Max Repay to repay the total borrow (or as much as possible given account equity etc.).
If doing the max repayment using the convert option, you may end up with a small positive balance of the asset you are repaying. That is because the convert (trade) may execute at a better price than the one quoted.
- Press on Deposit & Repay or Convert & Repay.
- Confirm the transaction in your wallet.