Glossary
Below is a glossary of terms commonly seen within the exchange platform.
Term | Description | Example |
Oracle Price | Price of underlying asset (currently: as reported by Pyth) | $201.01 |
Mark Price | Price of market | $201.05 |
Funding Rate | 1/24 the average premium every hour. if positive, longs pay shorts. if negative, shorts pay longs. see Funding Rates for more details | .0012% |
Open Interest | Total size of all positions (long and short) in the market | 181 SOL |
24h Volume | Total volume traded in past day in the market | $1.04M |
Term | Description | Example |
Market | A base / quote asset pair | SOL/USD |
Direction | The position's bet on price change | LONG,SHORT |
Size | The position's base asset value | 2.3555 SOL |
Notional | The position's quote asset value | $1,000 |
Entry Price | Average price paid (cost basis) for acquiring position | $200 |
Exit Price | Average price realized if closing entire position | $200 |
Liquidation Price | Soft estimate of price where liquidation of account will occur | None |
P&L (Profit & Loss) | Profit and/or Loss of position Calculated on difference between EXIT PRICE and ENTRY PRICE | $0 |
Action | Opens modal for reducing/closing position | ClosePosition |
Term | Description | Example |
Total Collateral | The total USD value of collateral (Wallet Balance +/- UnrealisedPnL) | 101.01 |
Unrealised P&L | Sum of Unrealised PnL in all open positions | 1 |
Unrealised Funding P&L | Unrealised amount collected/paid for funding payments. (will be automatically realised upon next user action) | .01 |
Free Collateral | The value of collateral that can be used to open new risk-increasing positions | .05 |
Leverage | Total Notional Position Size / Total Collateral | 5x |
Margin Ratio | Total Collateral / Total Notional Position Size | 20% |
Partial Margin Req. | The Partial Margin Requirement is the Margin Ratio at which users will be partially liquidated. | 6.25% |
Maintenance Margin Req. | This is the margin ratio at which users will be fully liquidated. | 5% |
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