Your first trade

From an empty ticket to an open position and back, with every number on the way explained.

Pick a market and a side, type what you are willing to pay, set the leverage, then press Buy or Sell and sign in your wallet. Nothing is charged to open. The position appears in the positions panel and on the chart, and you close it from its Close tab.

This walkthrough opens a small long and closes it again. Read Liquidation first if you are going anywhere near the top of the leverage slider.

The ticket, field by field

Market: What you are taking a view on. The header shows its mark price and funding rate, and the chart follows it.
Side: Long profits when the price rises, Short when it falls. Neither side is cheaper to open. Funding is what makes one side cheaper to hold at any moment.
You're paying: The USDC that leaves your wallet. It becomes the position's collateral, less a $10 execution budget if you set a take profit or stop loss.
Leverage: The multiple between collateral and position size: size = collateral x leverage. The slider's top is 10000 / initial_margin_bps of the market, so a 5% initial margin means 20x.

What the ticket tells you before you sign

Entry price, the current oracle mark.
Liquidation price, where this position would be closed against you. Watch it move as you drag the leverage slider.
Fees. Opening is free. The row shows what holding costs per day in borrow and funding, and the closing fee, which is only ever taken out of profit.
TP/SL execution budget, the $10 taken from what you pay when a trigger is set. See Take profit and stop loss.
Collateral and Slippage, the amount actually backing the position and how far the mark may move before the open is rejected. Slippage defaults to 1%.

Opening

Pick the market and the side The chart follows the market header, so what you see is what you are about to trade.
Type what you want to pay Start small. A first position that teaches you something costs less than one that proves something.
Set the leverage The liquidation line on the chart moves with the slider. Put it somewhere the market has to be genuinely wrong to reach.
Press Buy or Sell and sign The wallet shows the transaction. Once it confirms, the position appears in the positions panel and on the chart as an entry line.

Closing

Open the position, choose 25%, 50%, 75% or Max on the Close tab, and sign. What comes back is the collateral you free plus or minus the price move, less accrued borrow and funding, and less the closing fee if the trade made a profit. See Opening and closing for partial closes.