8min

Trading on Drift

Choosing markets

Select the market you would like to trade by clicking the drop down "change market" or by using the scrollable ribbon.

market ribbon (long bar) and drop down
market ribbon (long bar) and drop down
market dropdown
market dropdown

Deciding whether to Long or Short

Select long (Buy) or short (Sell) on the top of this modal

long/short buttons
long/short buttons

Selecting Position Size and Leverage

Enter in the amount of the underlying you want to buy with the text input on the left or how much USDC collateral you want to use with the text input on the right, you can also use the leverage slider to change the size of your position and the buttons below, the slider will show much much leverage you are using. You can also set your maximum allowed slippage (your size is size)

position modal
position modal

Opening position

When you are ready to open the position click the button on the bottom of the modal, check the information of your trade, make sure all the details are correct and you will finally be asked to sign the transaction with the wallet you have connected.

Drift offers market and limit orders that you can use to manage risk with. (If you are a beginner and just want to buy the perpetual contract at its current price then go with a mark price)

order type selector
order type selector
confirmation modal
confirmation modal

Adjusting position

If you have an open position you can make adjustments by either longing or shorting the same asset. To adjust your position follow all the same steps as above on the same asset. Varying the leverage you use will change your liquidation price.

Closing positions

Once you are done with a trade it is time to close out of that position. Go to your positions under the "Positions" tab and select "Market close" to realise your PnL

Document image

Your Wallet Balance should then reflect your Total Collateral if you have no Unrealised PnL left.

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Updated 31 Mar 2022
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