Opening Positions (Arbitrum)

Choose a Price feed

At launch, Ethereum is the only asset available on the Perennial front end, but more assets are right around the corner.

Choose a side

  • Long --> opens a position in the Long-<asset> market
  • Short --> opens a position in the Short-<asset> market

Define the position

Enter in the details of the position you want to open.
Step 1: enter the amount of collateral.
Step 2: either... 1) enter an amount, or 2) move the leverage slider (which will auto-calculate an amount
  • Collateral - the amount of USD to deposit to satisfy the maintenance requirement
    • Balance: total USDC availiable in wallet
    • Max: autofills max balance
  • Amount - the position size you want to open in terms of the market payoff (or the underlying asset). This determines the amount of profit and loss you will accrue when the payoff function moves. Learn more in the Profit and Loss Section
    • Notional (USD): value of your amount in USD, or the [amount * price]
  • Leverage - The ratio of notional value to collateral. For example, a $5,000 notional position with $1,000 collateral would have 5x leverage

Position parameters

  • Profit / Loss — winnings/losses for this current position (resets at full position close)
  • Est. Entry Price — price at which the trade will open at. This is estimated because delayed settlement makes it such that we cannot know the exact price. Once this is finalized, "Est. Entry Price" will change to "Entry Price"
  • Liquidation Price — price at which position becomes liquidatable
  • Daily Funding Rate — rate paid to makers. This changes based on utilization of the pool (so you'll notice it go up and down as you edit the size of your position)
  • Fee — open/close fees

Open the position

A confirmation dialog will appear after clicking Adjust Position to guide you through the adjustment steps.
  1. 1.
    (One Time) Approval - The protocol will request you to send an approval transaction to allow Perennial to operate on your collateral
  2. 2.
    (Combined) Collateral Deposit and/or Open Position - Send a transaction to deposit your collateral into the market and/or to open your positions

Congratulations! Your position has been created

The position is now in a Pricing state. This is necessary to prevent frontrunning. The position will be fully opened and eligible for Profit and Loss after the next oracle update. For more information, see the Settlement section.