Select the NFT collection you would like to trade by clicking on the Collection icon.
A2.) Decide if Long or Short
Click on the long / short panel to select the corresponding trading direction. Entering into a long position effectively means you enter into a futures contract betting on collection price to go up, and vice versa.
A3.) Set Order Type
Choose market order if you want to place the order immediately with whatever price available. Alternatively, use limit order to set desired price for the execution.
A4.) Collateral, Multiplier, and Notional
Collateral Amount and Leverage
To set your collateral amount, you have three options: you can input the value directly, use the slider, or employ the convenient half and max buttons. Reference your available TETH balance above the collateral amount input box to find out the maximum amount of collateral you can pledge.
By clicking the multiplier button, you can view the notional size associated with the chosen multiplier.
Review the transaction fee, entry price, price impact (only for market trades), and liquidation price of the trade in this section. Please be aware the above are just estimated for market trades.
A5.) Slippage Tolerance
Set the maximum allowed slippage tolerance for all trades, bear in mind that low slippage tolerance might result in an unsuccessful trade. Check the transaction fee and total WETH balance required before you click the confirm button to execute the trade.
A6.) Checking Open Position and Orders
You can see more details about the open position of this collection in this section and manage it by increasing your position, adjusting the collateral, or closing the position.
You can also check your orders of this collection in this panel and cancel the order.
A7.) Adjusting Collateral
If you have an open position you can manage your risk by increasing or decreasing the current collateral for this position. The lower the multiplier, the lower the chance of your position being liquidated. Adjusting collateral will change your current collateral and multiplier of your position while keeping notional amount unchanged.
A8.) Partially / Fully Closing a Position
If you wish to exit the open position fully, you can close your position to realise your profit / loss by selecting max and then clicking on the confirm button.
On the other hand, if you wish to reduce your risk / notional amount (i.e. partially close an open position), simply select the desired percentage instead. Please be aware that partially closing a position won’t release any collateral.