Trading

Why can't I open a position?

There could be a few reasons that you aren't able to open a position:

You already have an open position - Perennial only allows one position per market. Please check you have no open positions for that market.

You don't have any collateral - Make sure that you have added collateral in the protocol. You can check this by looking here:

The market could be at 100% utilization - The maker liquidity is fully utilized and no more positions can be opened. Check back later as full utilization incentivises new liquidity to be added to the Vaults.

Why is the entry price different to when I clicked the "Place Trade" button?

The price you receive opening a position is the next oracle update, not when you click the button. The protocol is designed this way to stop bots from abusing timing inefficiencies amongst markets. On average the oracle should update every 10-15 seconds.

I reduced my position. Why didn't I get any USDC back?

When you decrease your position size, your collateral stays in the protocol. In order to withdraw it you need to click the "Withdraw Collateral" button and follow the instructions there.

Why does my order show a "Pending" state?

When executing a trade, Perennial uses delayed settlement to ensure consistency in the market. When you submit your order it takes 1 oracle update to be entered into the system.

To learn more about the Settlement flow see here.

Why do my trades keep failing when I use a Gnosis Safe?

Perennial V2 uses a request based oracle. When using a Gnosis Safe you must collect the signatures required to submit within roughly 1 minute to ensure the data isn't stale.

I've had my position open for X minutes, why hasn't funding accrued?

Unlike CEXs, Perennials markets are updated each time someone updates their position within the market (open, close, make, etc). This means that the funding values (along with others) may appear to be stale. Don't worry the market will calculate the latest values on the next update. If you are unsure the you can check the UI to see what the unrealised values should be.

I love the charts on the app. What are you using?

Charts are provided by TradingView, a platform for traders and investors with versatile research tools and market data to help track coins like BTCUSD or ETHUSD on charts and more