💎Start trading

Sudo is live on mainnet! Make your first trade here

Step 1: Connect Wallet

Connect your preferred wallet to Sudo

Step 2: Open a position

Find a pair you want to open position against:

Please click either "Long" or "Short" based on your preference for opening a leveraged position.

• Long position

  • Profit is gained if the token's price increases.

  • Loss is incurred if the token's price decreases.

• Short position

  • Profit is gained if the token's price decreases.

  • Loss is incurred if the token's price increases.

Once you've chosen your preferred position, you can select any index token from the dropdown menu as collateral. The corresponding value of your collateral in USD will be displayed. Upon entering your collateral amount and selecting your desired leverage level, the quantity of the underlying asset will be automatically calculated.

In the below example 100 USDC (worth 100 USD) is being used to buy a 10x AAPL long position of size 990.11 USD.

The "Entry Price" is $180.72 and the estimated liquidation price is $162.65.

The trading fee to open and close a position is 0.1% of the position size.

"Reserving Fee Rate" is deducted every 8 hours, which is paid to liquidity providers based on the reserve amount. The hourly reserving fee is calculated as (borrowed assets) / (total assets in the pool) * 0.01%.

Although trades don't cause price impacts, potential slippage can occur due to price changes between when a trade is submitted and confirmed on the blockchain. Slippage represents the disparity between the expected trade price and the actual execution price. Customizing slippage can be done by clicking the "settings" option below "short" in the above screenshot.

At the commencement of each 8-hour period, a funding fee is also deducted. This fee can be either positive or negative to facilitate adjustments. See "Algorithm Balanced Funding Rate" for more details.

Managing Positions

Once a trade is initiated, it becomes visible in your Positions list. By selecting "Adjust," you can deposit or withdraw collateral, enabling you to control your leverage and liquidation price. When you initiate a position or deposit collateral, a snapshot of your collateral's USD price is captured. For instance, if your collateral is 952.381 USDC and the entry price of AAPL is 179.25 at that time, your size is 47,620.59 USD. This value remains constant even if AAPL's price changes.

Leverage for a position is indicated as (position size + PnL - Fees) / (position collateral).

Closing a Position

You can fully or partially close a position by clicking the 'Close' button. Profits are disbursed in the same asset you used as collateral. For example, if you went long on AAPL with USDC as collateral, your profits will be in USDC.

Liquidation

The Liquidation Price is determined as the price at which (collateral - losses - reserving fee) becomes less than 2% of your position's size. If the token's price crosses this threshold, the position is automatically liquidated. Due to changes in collateral prices and the reserving fee, your liquidation price alters over time. If you request a sizable reserve value from the Sudo Liquidity Pool, the reserving fee will be notably higher, your liquidation price will also be affected. Any remaining collateral after accounting for losses and fees will be returned to your account.