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A modern decentralized exchange platform. KPerp.Exchange does not require you to disclose any of your Personal Information. Configured a Web3 Wallet? Then you are ready to start trading.
To begin with, you need to connect your wallet. To do this, click on “Connect Wallet”.
(Be sure of having KAVA in you wallet, before starting to trade)
Click on “Trade”, in order to open a position
Once clicked, a trading panel will appear. Then, click on where the number '1' is shown, to choose the cryptocurrency you want to trade with:
Now you need to choose the currency you want to trade with, which is located in the dropdown menu:
After, at point '2' click on either "Long" or "Short" depending on which kind of position you want to open.
If you choose to "Long" a position, this will earn you profit if the price of the token increases, and you will make a loss when the price decreases.
Vice versa, if you choose to "Short" a position, this will earn you profit if the price of the token decreases, and you will make a loss when the price increases.
If you click on point '3 ' a panel will open, where selecting the cryptocurrency you want to pay with can be easily selected.
Having selected your favored cryptocurrency, please enter the amount you wish to trade. Please use the leverage slider to determine at what leverage you want to trade.
Example Situation below:
In the picture below, we have used 50 KAVA to open a Long position on KAVA with a 10x leverage.
As you move the Leverage slider, you can see the values of Liquidation Price and Fees changing accordingly. The Trading Fee to open a position is 0.1% of the position size. There is a similar closing fee of 0.1%.
Additionally, a "Borrow Fee" is deducted at the start of every hour. This is the fee paid to the counter-party of your trade. The fee per hour will vary based on utilization, it is calculated as (assets borrowed) / (total assets in pool) * 0.01%.
The box below the position box summarizes the trade with: the Entry Price, the Exit Price (which is the price you would get if you were to close the trade immediately after opening it), the Borrow Fee and the available liquidity in the pool.
Before confirming the transaction, a pop-up will appear summarizing all the relevant data and giving you the option to set slippage to a higher value.
See the next section for Default Slippage Settings.
Slippage is the difference between the expected price of the trade and the execution price.
Because of the deep liquidity offered by the KPerp.Exchange pool, there are no price impacts for trades, yet there can be slippage due to price movements between the moment when your trade transaction is submitted and when it is confirmed on the blockchain.
The maximum slippage you accept for a trade can be customized by clicking on your address in the header and on the Settings button accessible from the dropdown menu.
Once opened, your trades are added under the chart, in the Positions list.
You can visualize your entry and liquidation prices on the chart by ticking the “Chart positions” box in Zone 1 below:
You can manage your position by clicking on the three little dots in Zone 2. A pop-up will appear that will allow you to either deposit or withdraw collateral. You will notice the effect of this action on your leverage and liquidation price.
Leverage for a position is displayed as (position size) / (position collateral). If you'd like to display the leverage as (position size + PnL) / (position collateral), you can customize this by clicking on your address in the header and on the Settings button in the dropdown menu.
You have the option of being able to share any position.
Here is how it works:
- Click on the 3 dots next to any position to open the 'Share Position' option:
Next, click on 'Share Position' and you will see a graphic will pop up that shows you the details of any position:
Click on 'Copy' to copy the image or click on 'Download' to download the image.
You are also able to share any position on Social media. In order to do this, click on 'Tweet' to tweet any position.
See the next section for Closing Positions.
To close a position completely, click on the "Close" button in zone 2
By selecting the “Max” button in the pop-up window. You will get a summary of PnL and fees before confirming the transaction. To close the position partially, enter any amount below the maximum possible.
You can choose the currency in which you want your balance to be paid out when you close the position (Last section -> Receive)
You can set stop-loss and take-profit orders by clicking on the "Close" button and selecting the "Trigger" tab.
Here you can also select the currency in which you want your balance to be paid out when you close the position (Last section -> Receive)
Please note that the amount of the desired asset to receive is depending on the exchange rate at the time of execution.
Your newly created trigger order now appears in your position's row, as well as under the "Orders" tab where you can cancel or edit it, by changing the trigger price if needed.
It will also be displayed on the chart if you tick the box “Chart positions”.
If you close a position manually, the associated trigger orders will remain open, you would need to cancel them manually if you do not want the order to be active when opening future positions.
Please Note that orders are not guaranteed to execute, this can occur in a few situations including but not exclusive to:
- The mark price which is an aggregate of exchange prices did not reach the specified price
- The specified price was reached but not long enough for it to be executed
- No keeper picked up the order for execution
- Additionally, trigger orders are market orders and are not guaranteed to execute at the trigger price.
In case the market goes against your trade, there will be a price at which the loss amount is very close to the collateral amount.
The Liquidation Price is calculated as the price at which the (collateral - losses - borrow fee) is less than 1% of your position's size. If the token's price crosses this point then the position will be automatically closed.
Due to the borrow fee your liquidation price will change over time, especially if you use a leverage that is more than 10x and have the position open for more than a few days, so it is important to monitor your liquidation price.
If there is any collateral remaining after deducting losses and fees, then the corresponding amount would be returned to your wallet.
Thanks to its innovative design there is no price impact for trades on KPerp.Exchange, even for large orders. This means, you can execute large trades exactly at the mark price.
- The mark prices are displayed next to the market name and under the swap box.
- Long positions will be opened at the higher price and closed at the lower price while short positions will be opened at the lower price and closed at the higher price.
Another advantage of the platform is that there is only a small spread for entering and exiting trades. In the example below, there is no spread or entry and exit prices remain the same.