Opening Positions (Arbitrum)
Choose a Price feed
At launch, Ethereum is the only asset available on the Perennial front end, but more assets are right around the corner.
Choose a side
Long --> opens a position in the Long-<asset> market
Short --> opens a position in the Short-<asset> market
Define the position
Enter in the details of the position you want to open.
Step 1: enter the amount of collateral.
Step 2: either... 1) enter an amount, or 2) move the leverage slider (which will auto-calculate an amount
Collateral - the amount of USD to deposit to satisfy the maintenance requirement
Balance: total USDC availiable in wallet
Max: autofills max balance
Amount - the position size you want to open in terms of the market payoff (or the underlying asset). This determines the amount of profit and loss you will accrue when the payoff function moves. Learn more in the Profit and Loss Section
Notional (USD): value of your amount in USD, or the [amount * price]
Leverage - The ratio of notional value to collateral. For example, a $5,000 notional position with $1,000 collateral would have 5x leverage
Position parameters
Profit / Loss — winnings/losses for this current position (resets at full position close)
Est. Entry Price — price at which the trade will open at. This is estimated because delayed settlement makes it such that we cannot know the exact price. Once this is finalized, "Est. Entry Price" will change to "Entry Price"
Liquidation Price — price at which position becomes liquidatable
Daily Funding Rate — rate paid to makers. This changes based on utilization of the pool (so you'll notice it go up and down as you edit the size of your position)
Fee — open/close fees
Open the position
A confirmation dialog will appear after clicking Adjust Position to guide you through the adjustment steps.
(One Time) Approval - The protocol will request you to send an approval transaction to allow Perennial to operate on your collateral
(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.
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