Perpetual trading

On Tradeify, traders can open up to 100x leveraged positions with zero price impact. In addition, the protocol offers multiple collateral options, limit & trigger orders, aggregate pricing, and other trader-friendly features for an optimized on-chain trading experience.

Connect Wallet

Step 1: Click the “Connect Wallet” button to open the Connect Wallet dialog.

Step 2: Select the type of wallet you would like to use. If you haven’t installed a browser wallet, it is recommended to install Sui Wallet.

Select Market

Click the market button on the info bar or trading panel to open the dialog, then select the market / underlying asset you would like to trade.

Open Position

Step 1: Select the side for your position. For long positions, you will make profits when the underlying asset price rises and have losses when the price drops; for short positions, you will make profits when the underlying asset price drops and have losses when the price rises.

Step 2: Select the order type you need to use. Three order types are available: Market Order, Limit Order and Trigger Order.

Market Order

Fill orders with the latest market price.

Limit Order

Buy / Long: Fill orders when the mark price is lower than or equal to the limit price.

Sell / Short: Fill orders when the mark price is higher than or equal to the limit price.

Trigger Order

Buy / Long: Fill orders when the mark price is higher than or equal to the trigger price.

Sell / Short: Fill orders when the mark price is lower than or equal to the trigger price.

Step 3: Select your preferred collateral option.

Step 4: Enter the amount of collateral or underlying asset for the position; the fields will adjust for each other accordingly.

Then, adjust the position leverage using the input field, slider or shortcuts. Using leverage will increase your exposure to market fluctuations, and the liquidation risks will increase accordingly. Please be mindful of risk management.

Users can use up to 100x leverage on Tradeify. The product also allows leverage under 1x and input with up to two decimal.

Available Liquidity

The available liquidity is the current position size cap which indicates the amount of tokens that traders can long/short up to at the moment. The available liquidity is calculated separately for long and short positions; it will change along with the total open interest.

Profits In

If this position is closed, your realized profits will be settled in the indicated asset, and there are two scenarios.

• For long positions, the realized profits will be settled in the underlying assets.

• For short positions, the realized profits will be settled in stablecoins.

The amount of profit and loss you make will be proportional to your position size. For example, 300 USD has been used to buy 3000 USD of SUI (Ignore fees). If the price of SUI increases by 10%, the position would have a profit of 300 USD, if the price of SUI decreases by 10%, the position would have a loss of 300 USD (Liquidation).

If a short position was opened instead, then if the price of SUI decreased by 10% the position would have a profit of 300 USD, if the price of ETH increased by 10%, the position would have a loss of 300 USD.

Liquidation Price

Once the mark price reaches the liquidation price, the position will be liquidated. Liquidation happens when the collateral value has fallen below the maintenance margin, which is the minimum amount of collateral required to keep the position open.

Collateral

The position collateral is the number of tokens used, deducting the fees.

Fees

The open fee will be 0.1% of the position value and deducted from the collateral upon opening. Note that when depositing collateral into a long position, there is a 0.3% swap fee for the conversion of the asset to its USD value, e.g. ETH amount to USD value. This is to prevent deposits from being used as a zero-fee swap. This does not apply to shorts. Withdrawing of collateral from longs and shorts do not have this fee as well.

Spread

The spread is the difference between the ask and bid prices for the asset. The spread is 0% under the SUI markets on Tradeify.

Step 5: Depending on the position type, click the “Long” or “Short” button to open the confirmation dialog, then click the “Confirm” button to open the wallet and submit the order.

Market orders will appear under "Positions" immediately after they are submitted. Limit or Trigger orders will appear under "Open Orders."

Price and Funding

The index prices on MUX come from oracle which ensures accuracy and stability. With this mechanism, traders can open positions of any size with zero price impact.

The funding rates are calcualted seperatly for long and short postions on MUX, and the payments will be collected every 8 hours. Funding payments will be settled when traders apply changes to positions.

Change Collateral

Click the “+” button to open the “Change Collateral” dialog, then add or remove collateral based on your needs. Increased collateral lowers the leverage, and decreased collateral raises the leverage.

Cancel Order

Click the “Cancel” button to open the confirmation dialog, then confirm to cancel the order if needed.

Trade History

The trade history will be displayed chronologically, from the latest to the earliest. In addition, you can filter the history by period, market and type.

Close Position

Click the “Close” button to open the dialog, then enter the amount to close.

You will receive the collateral tokens with the PNL applied after closing the position. The profits will be settled in the underlying asset or stablecoins, and the losses will be deducted from the collateral.

Fully Close

When you close the position by 100%, the position size will be reduced to 0, and you will receive all the collateral tokens with the total PNL applied.

Partially Close - Don’t Maintain Leverage

When you close part of the position without maintaining leverage, the position size will reduce by the amount you entered without withdrawing any collateral; only the PNL from the closed amount will be settled.

Partially Close - Maintain Leverage

When you close part of the position and maintain leverage, the position size will reduce by the amount you entered, and a corresponding amount of collateral tokens will be withdrawn with the PNL applied.

Three order types are available for closing a position: Market Order, Limit Order and Stop Loss Order.

Market Order

• Fill orders with the latest market price.

Limit Order

• Long Position: Fill orders when the mark price is higher than or equal to the limit price.

• Short Position: Fill orders when the mark price is lower than or equal to the limit price.

Stop Loss Order

• Long Position: Fill orders when the mark price is lower than or equal to the stop price.

• Short Position: Fill orders when the mark price is higher than or equal to the stop price.