Vertex has a powerful trading experience for both spot and derivatives.
For the following walkthrough, screenshots from the spot trading page trading console are displayed.
To place a trade, you will need to go through a familiar trade entry flow. Below the screenshot, you will find the details of each decision.
- Buy / Long for perps
- Sell / Short for perps
- Market - immediate or cancel (IOC)
- Limit - set a limit price
🔔 note on market orders - since they are IOC, market orders may partially fill and whatever isn't filled will be canceled. Market orders may fail to execute/fill due to low testnet liquidity.
- Enter the size of trade you want to take by entering the amount of asset or quote, in this case, wBTC or USDC.
ℹ️ A message will appear if the trade requires you to borrow the quote (when buying) or asset (when selling). For seasoned trades - you can choose to not see this message again. If you find borrowing while trading spot confusing, please refer to FAQs in the later section.
- While entering the trade size, your account details will change. It's a good idea to check this before placing the trade. If the margin usage exceeds or is close to exceeding what's possible, the trade will fail (as in the example below).
- Final step - press on the Green or Red button. If your trade can't be executed you will be notified.
On both the trading pages and the open orders sup-page, you will find your open limit orders.
- You will see the % of that order filled.
You can cancel these by pressing
(x) Cancelto the right.
In the positions table on the perps trading page and perpetuals sub-page, you will find your open perp positions.
Closing the entire position
- Press close to the far right.
🔔 Please note - closing a position = a market order for the size of the position but the opposite side. Due to liquidity and tight slippage parameters (flexibility coming soon), a close position request may fail similarly to that of a market order mentioned above.
Closing a portion of the position
You can also manage/close a portion of the position by trading. Example:
- If you are 10 ETH LONG
- You want to close 50% of the position
- You can SHORT 5 ETH to do so
Shortcuts will soon be added to the close position flow so you can quickly select a % of the position to close. But if you would like to test out closing a portion then this is the current way to do it.