Your first trade

This guide walks you through opening and closing your first leveraged position on derp.trade. Make sure you have already set up your wallet and have USDT in it.

Step 1: Choose a market

Browse the available markets on the main page. Each market shows:

• The token name and ticker (e.g., SOL-DERP)
• The current price
• 24-hour price change
• Available leverage range

Click on a market to open the trading interface.

Step 2: Select long or short

• Long - you profit if the price goes up.
• Short - you profit if the price goes down.

Click the Long or Short button on the trading panel.

Step 3: Set your position size and leverage

1. Enter the amount of USDT you want to use as collateral.
2. Choose your leverage multiplier (e.g., 2x, 5x, 10x).
3. The interface shows your notional position size (collateral x leverage) and your estimated liquidation price.

Step 4: Confirm and execute

1. Review the trade summary - entry price, fees, and liquidation price.
2. Click Open Position.
3. Approve the transaction in your wallet.

The trade executes immediately via the AMM. No waiting for a counterparty.

Step 5: Monitor your position

Your open position appears in the positions panel below the chart. You can see:

• Your entry price
• Current unrealized PnL
• Liquidation price
• Accumulated funding

Your PnL updates in real time as the price moves.

Closing your position

When you are ready to take profit or cut losses:

1. Find your position in the positions panel.
2. Click Close.
3. Approve the transaction in your wallet.

Your PnL (minus fees) is returned to your wallet as USDT.