πŸ’Ή
Trade

🚦Placing a Trade

To the right of the price chart is the Trading Console. This is your trading control center.

Choosing the market

  • Click on the 'Change market' dropdown above the trading console
  • Choose your desired market -> chart and details will change

Go long or short

  • At the top of the trading console is a toggle
  • Choose to Long or Short the asset

Enter the order size or leverage you wish to take

  • Choose (type) how many units of the asset you want to long/short -> $UST value and leverage will populate OR
  • Use the leverage slider to choose how much leverage you want to take on account -> order size and $UST will populate. Note: the slider starts at your current account leverage

Place order & sign transaction

  • Press the (Place Long or Short Order) button at the bottom of the console.
  • A Terra Station prompt will pop up.
  • Sign and post the transaction
You must close any existing long positions before opening a short position, and vice versa.

πŸͺ‘ Current Position

Scroll below the chart and trading console and you'll find your current position details. This is also where you can close your position.
The details here are the same as on the dashboard's Trades display, except for:

Liquidation price

The price at which your ACCOUNT will get liquidated. Since Vertex is a cross-margin trading platform, your position's liquidation price depends on the margin usage spread between all open positions.
  • Multiple trades/LP positions open -> liquidation price is dynamic across all account positions
  • Only this position -> liquidation price stays constant as long as no additional positions are opened

Total funding

The + / - $UST value of funding payments you've made or received while holding the position

Action: close position

By clicking on this, you'll be prompted to sign and post a transaction on Terra station.
❗ When you close a position, your +/- unrealized PnL will be realized.

πŸ’± Market

You will always be able to view the mark price & funding rate. You can choose to toggle between viewing the price chart or market details.

Mark Price

  • Is calculated by the vAMM's x*y=k, which you can learn more about here Perpetual AMM/LPs​
Funding & Funding Rate
  • Periodic payments between long and shorts to push the price (AMM) of the perpetual close to the spot (oracle) price.
Chart
  • A line price chart based on the Oracles price, who's address and last transaction you can find in the details section

Details

  • Market commission: % taken of each trade that goes to liquidity providers
  • Liquidity: the pools total value in $UST
  • Maintenance margin: the minimum amount of equity an account must maintain
  • AMM deposited assets: the amount of non-UST assets