Skip to main content
The right-hand panel is where a trade is actually placed. This page covers every control on it.

​
Market order

The market order ticket with nine controls numbered 1 — Margin mode. Cross shares collateral across all your positions; Isolated confines a position to the margin you assign it. Cross is more capital-efficient and lets one bad position pull down the others; isolated caps the damage at what you allocated. See Margin modes. 2 — Leverage. The multiplier applied to your collateral. Higher leverage means a smaller adverse move reaches your liquidation price. Set this before sizing — it changes what a given size costs in margin. See Leverage. 3 — Position mode. One-Way means one net position per market. The alternative lets long and short exist side by side. 4 — Order type. Market executes now against resting liquidity. Limit rests at a price you choose. Pro holds the advanced types — TWAP, scale orders, and conditional orders. 5 — Direction. Long profits if the price rises, Short if it falls. 6 — Size. How much to trade, in the asset or in USDC — use the selector on the right to switch which unit you are typing. 7 — Percentage slider. Size as a share of your maximum. Quicker than typing, and it respects your leverage and available collateral. 8 — Reduce Only. The order can only shrink an existing position, never open or flip one. Use it whenever you intend to close — it is the safeguard against a closing order accidentally opening the opposite side. See Reduce-only. 9 — TP & SL. Attach a take-profit and stop-loss at the moment you open. See TP/SL.

​
Limit order

Choosing Limit adds two controls. The limit order ticket, with the price field, Mid button and time-in-force selector numbered 1 — Order type. Now on Limit. 2 — Price. Where your order rests. A buy below the current price waits for the market to come down to it; a buy above the current price crosses immediately and pays the taker rate. 3 — Mid. Fills the price field with the current mid-market price. 4 — Size. As before. 5 — Time in force. What happens if the order does not fill immediately: ALO is how you guarantee the maker rate. A limit order is not automatically a maker order — if it crosses on placement it takes liquidity and pays the taker fee. ALO refuses to fill rather than cross. See Order types.

​
Read this before you sign

Below the submit button is the cost of the order you have configured. The pre-trade readout: liquidation price, margin required, order value, slippage and fees 1 — Liquidation price. Where this position gets closed by the protocol. The single most important number on the screen. If it sits close to the current price, your leverage is too high for the volatility you are trading. 2 — Margin required. Collateral this order locks up. It includes an allowance for the fee to close the position later, which is why it is slightly more than size ÷ leverage — see Trading fees. 3 — Order value. Total notional exposure — your size multiplied by price. 4 — Slippage. For a market order, the estimated gap between the price you see and the price you get, plus the maximum you will accept. If actual slippage would exceed the maximum, the order does not execute at any price. 5 — Fees. What this order costs, at your tier. Maker and taker are shown separately because which one applies depends on whether your order rests or crosses.
On a market order, the price in the book is not a promise. You are buying whatever liquidity exists, and in a thin or fast market that can be materially worse than the top of the book. The slippage figure is an estimate from the current book — it is not a guaranteed limit unless you set the maximum.

​
Where to go next

Your first trade

These controls used end to end.

Order types

The full type list, including the Pro tab.

Order rejected

Why an order did not make it onto the book.

Leverage

How leverage sets your liquidation distance.