Trade
Last updated
Last updated
On MUX, traders can open up to 100x leveraged positions with zero price impact. In addition, the protocol offers multiple collateral options, limit & trigger orders, dark oracle pricing, and other trader-friendly features for an optimized on-chain trading experience. There are currently five markets on the platform: ETH, BTC, AVAX, BNB and FTM; more markets to come in the future.
Step 1: Click the “Connect Wallet” button to open the Connect Wallet dialog.
Step 2: Select the type of wallet you would like to use. If you haven’t installed a browser wallet, it is recommended to install MetaMask.
Step 1: MUX is deployed on Arbitrum, Avalanche, BNB Chain and Fantom; you can select the network you prefer to use from the menu.
Step 2: After choosing a network, you need to confirm this action in your wallet. If the selected network hasn’t been added to your wallet, MUX will ask for approval to add the network.
Note：The "Wrong Network" state will appear if the network you use in the wallet doesn't match the selected network on MUX. By clicking the "Wrong Network" button or the "Please Use ... Wallet" button, the wallet window will pop up for switching the network to match the one used on MUX.
Click the market button on the info bar or trading panel to open the dialog, then select the market / underlying asset you would like to trade.
Step 1: Select the side for your position. For long positions, you will make profits when the underlying asset price rises and have losses when the price drops; for short positions, you will make profits when the underlying asset price drops and have losses when the price rises.
Step 2: Select the order type you need to use. Three order types are available: Market Order, Limit Order and Trigger Order.
Market Order
Fill orders with the latest market price.
Limit Order
Buy / Long: Fill orders when the mark price is lower than or equal to the limit price.
Sell / Short: Fill orders when the mark price is higher than or equal to the limit price.
Trigger Order
Buy / Long: Fill orders when the mark price is higher than or equal to the trigger price.
Sell / Short: Fill orders when the mark price is lower than or equal to the trigger price.
Step 3: Select your preferred collateral option.
Step 4: Enter the amount of collateral or underlying asset for the position; the fields will adjust for each other accordingly.
Then, adjust the position leverage using the input field, slider or shortcuts. Using leverage will increase your exposure to market fluctuations, and the liquidation risks will increase accordingly. Please be mindful of risk management.
Users can use up to 100x leverage on MUX. The product also allows leverage under 1x and input with up to one decimal.
Available Liquidity
The available liquidity is the current position size cap. The example above indicates the traders can long up to 1.8376 ETH at the moment. The available liquidity is calculated separately for long and short positions; it will change along with the total open interest.
Profits In
If this position is closed, your realized profits will be settled in the indicated asset, and there are three scenarios.
The realized profits will be settled in the underlying assets for long positions.
For short positions, the realized profits will be settled in stablecoins. Users can choose the preferred type of stablecoin to receive upon position closure.
For long positions with underlying assets that don’t exist on the current chain (for example, longing AVAX on Arbitrum,) the realized profits will be settled in stablecoins.
Under the circumstance when the current chain has insufficient tokens reserved, some of the profits might be settled in muxTokens. Users can redeem muxTokens into related tokens on a network with sufficient reserves.
Liquidation Price
Once the mark price reaches the liquidation price, the position will be liquidated. Liquidation happens when the collateral value has fallen below the maintenance margin, which is the minimum amount of collateral required to keep the position open.
Collateral
The position collateral is the number of tokens used, deducting the fees.
Fees
The open fee will be 0.075% of the position value and deducted from the collateral upon opening.
Spread
The spread is the difference between the ask and bid prices for the asset. The spread is 0% under the ETH and BTC markets on MUX.
Step 5: Depending on the position type, click the “Long” or “Short” button to open the confirmation dialog, then click the “Confirm” button to open the wallet and submit the order.
Market orders will appear under "Positions" immediately after they are submitted. Limit or Trigger orders will appear under "Open Orders."
The displayed information are market name, asset index price, price 24H change, long & short open interests under the market and estimated 1H funding rate.
The index prices on MUX come from the dark oracle, which aggregates price feeds from multiple sources to ensure accuracy and stability. With this mechanism, traders can open positions of any size with zero price impact.
The funding rates are calcualted seperatly for long and short postions on MUX, and the payments will be collected every 8 hours. Funding payments will be settled when traders apply changes to positions.
Click the “+” button to open the “Change Collateral” dialog, then add or remove collateral based on your needs. Increased collateral lowers the leverage, and decreased collateral raises the leverage.
Click the “Cancel” button to open the confirmation dialog, then confirm to cancel the order if needed.
The trade history will be displayed chronologically, from the latest to the earliest. In addition, you can filter the history by period, market and type.
MUX allows users to download trade history into spreadsheets. The filters that you are using will be applied to the spreadsheet.
Click the “Close” button to open the dialog, then enter the amount to close.
You will receive the collateral tokens with the PNL applied after closing the position. The profits will be settled in the underlying asset or stablecoins, and the losses will be deducted from the collateral.
Fully Close
When you close the position by 100%, the position size will be reduced to 0, and you will receive all the collateral tokens with the total PNL applied.
Partially Close - Don’t Maintain Leverage
When you close part of the position without maintaining leverage, the position size will reduce by the amount you entered without withdrawing any collateral; only the PNL from the closed amount will be settled.
Partially Close - Maintain Leverage
When you close part of the position and maintain leverage, the position size will reduce by the amount you entered, and a corresponding amount of collateral tokens will be withdrawn with the PNL applied.
Three order types are available for closing a position: Market Order, Limit Order and Stop Loss Order.
Market Order
Fill orders with the latest market price.
Limit Order
Long Position: Fill orders when the mark price is higher than or equal to the limit price.
Short Position: Fill orders when the mark price is lower than or equal to the limit price.
Stop Loss Order
Long Position: Fill orders when the mark price is lower than or equal to the stop price.
Short Position: Fill orders when the mark price is higher than or equal to the stop price.
