Perps V1
Last updated
Last updated
Kinetix allows you to trade with up to 50x leverage on Kava in a permission-less, decentralized, and non-custodial way.
Through Kinetix, you can now short and long with leverage ranging from 1.1 to 50x on the following assets:
Kava
BTC
ETH
ATOM
Your position can be opened using collateral such as Kava, wKava, BTC, ETH, ATOM, and USDT.
To connect your wallet, simply go to: https://kinetix.finance/apps/perp and click on 'Connect wallet'.
Make sure to have some Kava (gas token of the Kava Chain) in your wallet to start trading.
To trade an asset, click on the pairs displayed at the top left of your screen, and then select the asset you want to trade from the dropdown menu.
To open a position, click on "Long" or "Short", depending on your preference:
A long position will generate profit if the token's price rises, but will incur losses if the price falls.
A short position will generate profit if the token's price falls, but will incur losses if the price rises.
A market order enables you to enter a position at the current displayed market price.
A limit order enables you to enter a position at a price of your choice, but with the risk that the order may not be executed or may be executed much later.
Select the asset you want to use as collateral for your position (1), the amount you want to place in your position (2), and the desired leverage (3).
As you adjust the Leverage slider, you will notice changes to the Liquidation Price and Fees values. There are three types of fees to consider:
Opening fees, which are equal to 0.1% of the position size.
Closing fees, which are equal to 0.1% of the position size.
Borrowing fees, which are deducted at the start of every hour and vary based on utilization. This fee is calculated as: (assets borrowed) / (total assets in pool) * 0.01%.
A pop-up will appear before confirming your position, summarizing all relevant data and providing you with the option to set slippage to a higher value.
Slippage refers to the difference between the expected price of a trade and its execution price. Thanks to the deep liquidity provided by the KLP pool, Kinetix does not experience price impact due to the position size. However, there may still be price slippage between the time the transaction is submitted and the time the Kava blockchain confirms the trade.
By default, the slippage tolerance is set to 1%. This means that if the price difference between the time you submit the transaction and the time the Kava blockchain confirms the trade exceeds 1%, the trade is canceled. This protects your capital according to the rules you have established.
You can adjust this slippage by :
clicking on the settings wheel, located on the right corner of the page:
A small pop-up window will appear, allowing you to choose the slippage amount that suits you best:
Once you've opened your positions, you can access all relevant information about them in the 'Position' section located below the chart.
Note that by selecting 'Chart positions', you can view your position entry, liquidation level, and advanced orders (SL/TP) directly on the chart.
You can adjust your liquidation level by adding or removing collateral at any time.
You may also notice that the menu allows you to share your trade at any time or simply save it for yourself!
To close your position, you have three options located under the 'Close' button.
a) Close the position completely
To close your position entirely, click on 'Max' and confirm the transaction.
b) Close the position partially
To partially close your position, simply enter the amount you wish to withdraw from it.
c) Close your position partially or entirely with a defined price
You can close your position entirely (by clicking on "Max") or partially (by manually entering the amount you want to withdraw) by setting a Stop Loss or Take-Profit order. To do this, click on the "Trigger" section and enter the price of your order.
Note that when creating an advanced order (SL or TP):
It will appear in the 'Orders' section at the bottom of the chart, as well as on the chart if you have activated the 'Chart position' bell.
If you manually close a position, the associated trigger orders will remain open. You will need to cancel them manually if you do not want the order to be active when opening future positions.
Also note that orders are not guaranteed to execute. There are several situations in which this can occur, including:
The mark price, which is an aggregate of exchange prices, did not reach the specified price.
The specified price was reached but not for a long enough time for it to be executed.
No keeper picked up the order for execution.
Additionally, trigger orders are market orders and are not guaranteed to execute at the trigger price.
If the market goes against your trade, you will reach a point where the loss amount is almost equal to the collateral amount. To avoid this, we calculate your Liquidation Price, which is the price at which your losses and fees exceed 1% of your position's size. Once the token's price hits this point, your position is automatically closed.
Your liquidation price changes over time, especially if you use leverage greater than 10x and hold the position open for more than a few days. Therefore, it is crucial to keep a close eye on your liquidation price.
Any remaining collateral will be returned to your wallet after we deduct losses and fees.
