Opening and Adjusting Positions (Mainnet)

Choose a side

• Maker - Maker positions are pooled and matched against taker positions pro-rata. Learn More

• Taker - Taker positions give you exposure to the market's payoff. Learn More

Define the position

Enter in the details of the position you want to open. Each of the following fields is modifiable, you must input values for 2 and the last value will be automatically calculated

• Collateral - the amount of USD to deposit into the Market

• Exposure - the position size you want to open. This determines the amount of profit and loss you will accrue when the payoff function moves. Learn more in the Profit and Loss Section

  • The notional (USD) value of your position will be displayed at the bottom of the form

• Leverage - The ratio of notional value to collateral. For example, a $2,000 notional position with $1,000 collateral would have 2x leverage

  • Selecting the "Keep Leverage Fixed" toggle will keep the leverage value constant and modify the Exposure and Collateral values when changed

Open the position

A confirmation dialog will appear after clicking Adjust Position to guide you through the adjustment steps.

1. (One Time) Approval - The protocol will request you to send an approval transaction to allow Perennial to operate on your collateral

2. (Combined) Collateral Deposit and/or Open Position - Send a transaction to deposit your collateral into the market and/or to open your positions

Congratulations! Your position has been created

The position is now in a Pricing state. This is necessary to prevent frontrunning. The position will be fully opened and eligible for Profit and Loss after the next oracle update. For more information, see the Settlement section.