Kwenta | PerpsV2

Kwenta - Derivatives Trading with Deep Liquidity | Synthetix Perps - The Liquidity Layer of DeFi

First go to the Manage tab at the top, then select the Vault you'd like to perform your trades with.

Make sure you select the correct chain. Kwenta is available on Optimism. If your Vault is only deployed to Arbitrum, you will need to also deploy to Optimism.

If you haven't yet funded Optimism in your Vault, you will need to Bridge USDC.e from Arbitrum. More info here.

Once you've switched to Optimism, you can select Kwenta (Perpetuals).

From here you will have a screen of current positions / previous trades (bottom center), the currently selected pair (top left), a chart for the currently selected pair (top center), deposit/withdraw margin balance ("Edit") button (right side), and your open/increase position menu (also right side).

The button to Close a position can be found in the list of your current Kwenta positions (center bottom of screen), to the right of your current positions' information.

Select a Pair

In the top left of the screen, just on top of the chart area, you can select the pair you wish to view or trade in. The list will likely be longer than can fit on your screen; you can scroll up and down this list.

Adding Margin

For now, Vaults use isolated margin accounts for each pair. You will need to add margin separately for each pair you wish to trade.

Margin can be deposited or withdrawn as sUSD. You can spot trade to it from the Spot Trading screen on Optimism.

Near the top right of the Kwenta Perpetuals screen, you will find the sUSD Margin balance amount, and an Edit button to deposit or withdraw sUSD.

Managing Positions

Open or Increase a Long or Short

From the screen on the right, you can: Β· Manually enter a desired Position Size Β· Adjust your leverage between 0.01x - 50x with the slider Β· View the current entry price and estimated fees Β· Submit your Transaction

Showing a 0 sUSD Margin balance? Each pair uses its own isolated margin account. Make sure to deposit sUSD for the pair you're looking at trading.

Multiple Positions

Managers may open up to three Kwenta positions, as long as each pair's margin accounts are appropriately funded.

If combining positions (see below: Adding to Positions and Opposing Positions), Kwenta effectively realizes your PnL at the moment the new position is opened, and then aggregates the previous and new position.

Different Assets

Positions for separate assets are unique.

Multiple positions for the same asset are combined.

Adding to Positions: Long+Long, Short+Short

If you already have an open position and add another for the same token, in the same direction (i.e. another Long when you already have a Long, or a Short when you already have a Short), the two positions will be combined.

Doing so will increase the total collateral, and adjust the existing leverage based on what you opted for with the new position. (i.e. increasing or decreasing leverage proportionally to the new position's.)

Opposing Positions: Long & Short for the Same Asset

Kwenta/PerpsV2 combines opposing positions. If you have an open Long, and open a Short, it will effectively close that portion of that Long.

If you initiate an opposing position that is larger than your current open position, it essentially results in the closure of the initial position. The excess amount beyond the closed position will constitute the size of your new position. To put it simply, if you already have a $5 Long position and you open a $15 Short position, the Long position will be completely closed, leaving you with a $10 Short position.

Close a Position

The second major section, near the center of the screen, is "Positions" and "Trades". Here you should see your active positions. (Recently opened positions may take a little bit to show up.) Click the Close button to the right of the position's information.

This will bring up a menu enabling you to close the position. To reduce a position without fully closing it, open a position in the opposite direction (see here).

This screen shows valuable information, including estimated Profit-and-Loss, price impact, and trade and execution fees.

Positions can take some time to update, and may not immediately display in the UI. If it has been more than 10 minutes, Hard Refresh (Ctrl+R) to ensure you've got the latest from the Valio App.

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