Ooki
  • ๐Ÿ‘‹Introduction to Ooki
  • ๐Ÿ“–About Ooki
  • โ”FAQ
  • ๐Ÿ“šGlossary
  • Protocol
    • ๐Ÿ’ฑTrade
      • Opening A Trade
      • Managing/Closing Trade
      • Trade History
      • Leverage
      • Short Selling
      • Complex Orders
    • ๐Ÿ’ธBorrow
      • Liquidation
    • ๐ŸงฎLend
    • ๐ŸฆStake
    • ๐Ÿ“‘Fees
  • Governance
    • ๐Ÿ›๏ธOoki DAO
    • ๐Ÿ—ณ๏ธVoting
    • ๐Ÿ‘จโ€๐Ÿ”งDelegating
  • Tokenomics
    • ๐Ÿ’ฐOverview
    • ๐ŸŽŠToken Migration
  • Developers
    • โšกFlash Borrow
    • ๐ŸงนSweep Fees
    • ๐Ÿ”ฃInterest Rates
    • ๐Ÿ›ก๏ธGuardians
    • ๐ŸฆบAudits
    • ๐ŸนBug Bounty
    • ๐Ÿ“ŠPrice Oracle
    • ๐Ÿš„Avoiding Frontrunning
    • ๐Ÿ“”Contracts
    • Data API
  • Ooki Ecosystem
    • โ›“๏ธMultichain
    • ๐Ÿ—ƒ๏ธBrand Assets
    • ๐Ÿ–Š๏ธStyle Guide
  • Additional Resources
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  1. Protocol
  2. Trade

Opening A Trade

PreviousTradeNextManaging/Closing Trade

Last updated 2 years ago

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With Ooki traders can enter margin long or margin short positions. When entering a position, a user deposits collateral and can utilize leverage by borrowing against the position in order to magnify gains.

When a user enters a short position, they can profit from the decline in price of the underlying asset. Conversely when opening a long position, a trader profits from an increase in price in the position.

Opening a position

To begin trading a user must first connect their web3 wallet:

Then a user must select their desired trading pair, leverage, and whether to open a short or long margin position:

Lastly, the user must then select the amount to purchase and click the Buy/Long button.

This popup window above also displays the following useful information:

  • APR: Refers to the percentage rate that the trader pays per year to maintain the long position.

  • Entry Price: is the estimated price at which the order will be filled.

  • Slippage: Refers to the maximum change in execution price allowable.

  • Liquidation Price: (When reaches this level, the position will be liquidated.)

After selecting the trade amount, clicking buy, the user will see a Metamask pop up window asking them to confirm the transaction with their web3 enabled wallet.

Once you have opened a trade it will appear in the open positions section (see below).

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