2.2.2 Trading Perpetual Swaps

Select ‘Perpetual’ from the market selector drop down and a number of contract options will appear, all of them will have the term SWAP in the title which denotes them as perpetual swaps. The first two acronyms within the contract title denote the trading pair. Therefore BTC-USD-SWAP-LIN means that this is Bitcoin (BTC) to USDC stablecoin Perpetual Swap market, whereas for example ETH-USD-SWAP-LIN is the Ethereum Perpetual Swap market.

Perpetual Swaps generally trade close to the spot price but allow the trader to use leverage (up to 100x on CoinFLEX Perpetuals) in both buying or being ‘long’ as well as selling ‘short’ the price of the underlying asset. Therefore, buying and selling them is very simple in the CoinFLEX UI, as described in the Trading UI Overview section of this guide. Once in the BTC Perpetual Swap market, enter the quantity to buy or sell, the price willing to buy or sell (if entering a limit order), and select ‘BUY’ or ‘SELL’. This will enter the order into the order book, executing as a ‘Taker’ order if the price entered crosses the market, or be placed into the market as a ‘Maker’ order if it does not.

The Positions, Active OrdersFilled Orders tabs will all then start giving information on current and previous trading activity.

To close the position there are two options:

  1. In the trade ticket it is possible to close the position by inputting the quantity, the desired exit price and executing in the opposite direction of your position.
  2. Alternatively, in the Positions tab, select ‘Close’ and the system will automatically execute a market order for the quantity needed to exit the position.

Once the position is closed the area under the ‘positions’ tab should be blank. An alternative to closing the position in the Orderbook is to ‘Deliver’ the position.

Our perpetual swaps differ to all others in the market in one important way, as our Perpetual Swaps are deliverable in spot on demand.

To deliver a position, in the positions tab, select ‘Deliver’ on the right hand side of the pane. A pop up will appear giving a warning, in that pop up you can request delivery of any amount of the position available to you based on your amount of collateral/margin ratio. You can only have delivered what you have collateral to pay for (i.e. must be fully funded).

‘Estimated Assets Needed’ indicates the amount of collateral balance needed in order to deliver the desired quantity of coin, ‘Estimated Assets Receiving’ indicates the amount of assets to be received on delivery. This is only an estimate because if the market moves between submitting for delivery, as there may not be enough collateral to pay for the full amount requested. This will be adjusted automatically. Once delivery has occurred the balance will simply appear in the account.

 

 

 

 

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