Maintaining your Positions
Last updated
Last updated
Once you have opened a position, several indicators will appear on the chart to help you monitor its health and status.
When you first open a position, an indicator will appear on the chart at the corresponding time and price. In the above image, you can see a Long was opened on the 28th at $66,920.9. The yellow line below indicates the liquidation price of the position. The current price can be seen as $71,557.7, with a Limit Sell order specified to trigger at $75,000. These indicators allow the chart to serve as an at-a-glance reference for you position and any outstanding Limit Orders you have pending.
Below the chart, you will see a series of tabs: Positions, Orders, Order History, and Margin History.
Here you can monitor the status of your open positions by viewing their metrics, and perform several actions. The paramaters are:
Market: The base and quote asset of the position. You can navigate to that market using the dropdown menu at the top left of the screen to view the chart and order book.
Direction: Whether the position you opened is Long (Buy) or Short (Sell). Also indicated is the Leverage of the position. Note that it is possible to increase leverage after opening a position using the trade modal, but not to decrease leverage. To decrease leverage, you can add collateral to the position, which we will cover how to do below in the Allocated Collateral section.
Health: Health is an indication of your margin ratio, in other words how much collateral you have allocated to this position relative to its total notional size, or the inverse of your Leverage. Your health will vary over time as a function of your PnL and unrealized funding. You can always increase your health by adding collateral to the position.
Size: The amount of the base asset you are trading, denominated in units as well as in notional (dollar) value.
Avg. Entry Price: The price at which you opened your position. If you added to your position after initially opening it, the average price will be displayed here.
Liquidation Price: The price at which your position will fail to fulfil the requirements of the maintenance margin needed to keep it open, at which point it will be partially liquidated. You can always raise (for shorts) or lower (for longs) your liquidation price by adding collateral to the position.
Unrealized PnL: Your Profit or Loss for your position at the current moment in time. When a position is open, this PnL is Unrealized. In order to lock in profits, you must partially or fully close the position, at which point the profit will be transferred to your account.
Clicking the share icon will display a graphic which you can then share on your socials if you have a position you are particularly proud of!
Unrealized Funding: Funding rates are the price you must pay or must be paid to you in order to keep your perpetual futures contract open. Funding rates are the mechanism which keeps the Mark Price pegged to the Index (oracle) Price of the asset. Unrealized Funding is the amount you will pay or recieve the next time Funding is settled.
Next Funding: The period of time until funding rates update. The value shown will then be accounted for in your Unrealized Funding, which will be settled at the end of the Funding Period.
Allocated Collateral: The amount of collateral each position is utilizing to remain open. Note that each position is Isolated, meaning collateral is not shared between positions, nor is free collateral in your account allocated to your positions. You can modify the amount of collateral allocated to each position by clicking the pencil icon:
In this window you can see the current status of your account and the position you are modifying. On the left side of the window, Current Account and Current Position metrics are shown. Under Current Account, the value Total Margin is the amount of free collateral you have in your account which you can allocate to this position. Under Current Position, you can view the amount of collateral you have allocated now, your current Position Health, and your current Liquidation Price.
By typing in a value or using the slider at the top of the modal, you can view on the right side of the screen under Account After Allocation and Position After Allocation what the effects will be if you add collateral. This is useful if your position has experienced negative PnL and is approaching liquidation. Adding collateral to the position will increase its health and raise the liquidation price in the case of a short position, or lower it in the case of a long position.
In situations where you have positive PnL and wish to realize some of these profits, you may also Deallocate Collateral by clicking the corresponding tab at the top of the modal. Doing so will increase your leverage and lower the health of your position, so be sure to review the Position After Deallocation metrics and ensure they are to your satisfaction before performing the transaction.
Note that you can increase the allowed leverage of the position through the trade modal, which will allow you to deallocate more collateral if you started with a lower amount of leverage. For example, if you initially opened the position with 6x leverage, increasing the leverage to 12x will allow you to deallocate additional collateral.
Note that you can only increase leverage after opening a position, not decrease it through the trade modal. If you wish to decrease leverage, simply allocate additional collateral to the position.
Finally, at the far right side of the Positions tab is the Close button. Here you can either partially or fully close your position. Clicking it will open up a preview window which allows you to review the transaction before deciding to proceed.
You can adjust how much of your postion you would like to close by typing it in or using the slider. Below, you will see metrics which preview the effects of partially or fully closing your position. They are:
Margin Available: The amount of free collateral in your account
Execution Price: The price at which your position will close.
Realized PnL: The profit or loss which will be credited or charged to your account if you close the position.
Unrealized PnL: The profit or loss of the portion of your order which will remain open in the case of partial closure.
Est. Slippage: The amount of slippage closing your position will incur.
Liquidation Price: What your new liquidation price will be in the case of partial closure.
Fees: The cost of fees paid to close the position.
Position Size: Your new position size in the case of partial closure.
Allocated Collateral: The amount of collateral you will now have dediated to this position in the case of partial closure.
Position Health: Your new margin ratio in the case of partial closure.
Leverage: Your new leverage in the case of partial closure.
