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Sudo Gitbook
  • 👋Welcome to Sudo
  • Overview
    • 💡What is Sudo
    • ✨Sudo Features
  • Trade on Sudo
    • 💎Start trading
      • Supported Assets
      • Fees
      • Market Hours
    • 📚Educational Resources
      • What Are Perpetual Futures?
      • Using Leverage Wisely
      • Risk Management Fundamentals
      • What is Sharpe Ratio
      • Real Trading Scenarios
      • Avoiding Rookie Mistakes
  • Liquidity Providers
    • 💰How to provide liquidity
    • 🛰️SLP
    • 🏦SLP Staking
  • S Rewards
    • S Card
      • Getting S Card
      • S Points
      • Using Your S Card
  • Sudo API
    • Sudo API Reference
      • Trader Data
      • Market Info
  • Sudo SDK
    • Introduction to Sudo SDK
    • Core Concepts
    • Installation and Setup
    • Quick Start
    • 📚v0.0.6
      • API Reference
        • SudoAPI
          • Open Position
          • Decrease Position
          • Pledge In Position
          • Redeem From Position
          • Cancel Order
          • getPositionCapInfoList
          • getPositionInfoList
          • getPositionConfig
        • OracleAPI
          • subOraclePrices
      • Changelog
    • Best Practices
    • Troubleshooting
  • Feature Details
    • Algorithm Balanced Funding Rate (ABFR)
    • Risk control
    • FAQ
    • Roadmap
    • On-chain program
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  • Step 1: Connect Wallet
  • Step 2: Open a position
  1. Trade on Sudo

Start trading

PreviousSudo FeaturesNextSupported Assets

Last updated 5 months ago

Sudo is live on mainnet! Make your first trade

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 15 USDC (worth 15 USD) is being used to buy a 10x BTC long position of size 150 USD.

The "Entry Price" is $101,096 and the estimated liquidation price is $90,986.4.

The trading fee to open and close a position is normally 0.15% - 0.3% 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 15 USDC and the entry price of BTC is $101,096 at that time, your size is 141.48 USD. This value remains constant even if BTC'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 BTC 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.

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