Position Actions

Prerequisites

Make sure you've set up and connected your wallet on the Polygon network. You can interact with positions directly through the interface.

Add Margin

You can add margin to a position to decrease its leverage and push away its liquidation price. When adding margin, your position's leverage cannot drop below 1.

Example

You have a 100 USDC sized position at 10× leverage. Your margin is 10 USDC. You add 10 USDC in margin. Your position now has 100 USDC in size with 20 USDC in margin. Its leverage was decreased to is 5×.

Remove Margin

You can also remove margin from a position. This will increase its leverage and pull forward its liquidation price. Margin removal is only available on markets supported by Chainlink.When removing margin, your position's leverage cannot exceed the market's maximum allowed leverage. If the current P/L of your position is negative, the remaining margin tied to your position must be able to cover the negative P/L + a 10% buffer. [image]

Example

You have a 10,000 USDC sized position at 5× leverage. Your margin is 2,000 USDC. The position's P/L is -500 USDC. To cover the negative P/L, the remaining margin must be at least 500 USDC + 10% = 550 USDC. You can therefore remove a maximum of 2000 - 550 = 1450 USDC.

Close Position

To close a position, simply submit an order in the opposite direction. To ensure the order does not result in the creation of a new position, you can select Reduce-Only.The trading interface provides a handy way to close a position (e.g. submit a market reduce-only order in the opposite direction) by clicking on the X next to your position in the Positions panel. This will bring up a modal where you can select you much of the position you want to close.[image]Once your order is submitted, it will be picked up by the DON and executed like a regular market order against your position, reducing its size and sending the executed margin plus profits or losses directly to your wallet.

Take-Profit

To close (or partially close) a position when it reaches a certain amount of profit, submit a reduce-only limit order in the opposite direction.

Example

You have a 100 USDC sized long position entered at a ETH market price of $1000. To add a take-profit, you submit one or more limit, reduce-only sell orders. You can choose the size and price of these orders to close your position partially or at different prices.

Stop-Loss

To close (or partially close) a position when it reaches a certain amount of loss, submit a reduce-only stop order in the opposite direction.

Example

You have a 100 USDC sized short position entered at a market price of $100.To add a stop loss, you submit one or more stop, reduce-only buy orders. You can choose the size and price of these orders to close your position partially or at different prices.Take-profit and stop-loss orders are not automatically cancelled if your position is closed through other means. You can cancel them manually.