Futures UI Overview

Understanding the Kwenta Futures Trading Interface

  1. Find any outstanding trade reward, display options, the selected network, and the connected wallet here. If no wallet is connected, it will show a Connect Wallet button.

You can switch networks by selecting the network on the UI and selecting an available network.

  1. Trade history on a given asset with an optional toggle to hide this panel.

  1. This area displays a price chart of the chosen contract. As well as market details:

  • Market Price - Adjusted price, including premium/discount for the asset, based on skew

  • Index Price - Raw asset price provided by Pyth with no skew adjustments

  • 24H Change - Dollar amount change of an asset on a rolling 24h basis

  • Funding Rate - A continuous funding rate is levied on Kwenta and is charged every block. Longs pay shorts when funding is positive, and shorts pay longs when funding is negative. Funding is designed to incentivize balanced open interest. Skew is not directly proportional to funding, but impacts funding rate velocity. If skew is positive, funding is increasing, and if skew is negative, funding is decreasing.

  • Open Interest - The total size of all outstanding positions on either side of the market

  • Skew - The balance between long and short open interest. Positive skew means longs outnumber shorts, and negative skew means shorts outnumber longs.

  1. Order entry panel. Place orders either Long (Buy) or Short (Sell). Enter the amount of collateral you wish to allocate and specify how much leverage to apply.

  • Market Selector - Select the asset you wish to trade

  • Cross-Margin Account Details

    • Free Account Margin - Total amount of unused (available) sUSD in your CM account

    • Market Margin - sUSD collateral allocated to the selected markets position

    • Margin Usage - Percentage of margin used across all markets

    • Account ETH Balance - Cross-Margin ETH balance (users will need to deposit .01 ETH into the cross-margin account, to execute advanced orders)

  • Order Type (Smart-Margin ONLY)

    • Market - Execute a delayed market order at current price

    • Limit order - Set an entry order to execute at a specified trigger price

    • Stop-market - Increase or decrease risk by setting a trigger price once the asset has traded at or through a specified price (the "stop price"); the order will execute

  • Margin - Input the amount of initial margin you want to post when opening a position

  • Size - Enter the position size you wish to take

  • Leverage - Current Leverage will display (based on inputs) and/or allows traders the ability to adjust the amount of leverage to apply to their collateral

  • Amount - Use the slider or enter a position size in either sUSD or asset denomination (switch between the two by selecting the double arrows)

  • Optional Take-profit & Stop-loss when entering a trade via a market or limit order

    • Traders can place optional reduce only TP/SLs when opening a take by expanding the advanced set of parameters.

Note: That these TP/SL orders are absolutes and will always bring your exposure to zero when executed. Additionally, advanced orders cannot be canceled automatically, as this requires on-chain approval.

  • Fee Details

    • Protocol Fee - Fees imposed by Synthetix for making use of their liquidity

    • Keeper Fee - $2 Fee paid to the person or robot executing and orders as delayed market orders.

    • Total Fees - Sub-total of all fees to execute an order

​5. In this box, you'll find all the pertinent information pertaining to your open position. It allows you to navigate between your position, (open) orders, trades, and transfers (deposits and withdrawals).

  • Asset name - Displays the open positions asset, e.g. ETH-PERP, and its current value in sUSD

  • Position Direction - Long or Short

  • Total Position size - In asset denomination and its current sUSD value

  • Entry Price - Average executed buy/sell price for your current position

  • Liquidation Price - If the oracle price of the contract reaches the liquidation price when long or short, your position will be liquidated

  • Unrealized P&L - Displayed in sUSD and a percentage and is profit and or loss that hasn't been settled yet

  • Net Funding Rate - Displays the current funding rebated or paid up until this point

  • TP/SL - Displays any take profit and stop losses set for the open position

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