Trading

What do I need for trading?

Margin trading has risks, we recommend only experienced traders to participate.

There's no special requirements for traders, however, we strongly advise you to gain experience in traditional exchanges before trading on Derify protocol.

Why citizens from certain countries are restricted for trading?

We comply with laws and regulations of all countries and regions.

For compliance purposes, we will restrict traders from certain countries to use Derify protocol.

How long the deposit and withdraw would take?

Depends on the traffic of Ethereum.

Generally, confirmation would take several blocks (about several minutes).

What assets can I use to open positions?

Currently we only support USDT.

We will support USDC and DAI soon.

We will also support other assets as collateral in the future.

How is the execution price calculated?

Clearing Keeper will monitor the index price, and check if the target price is reached and change it accordingly.

Thus you can always execute on the price which you ordered.

Will my order face slippage?

We directly use index price, so you will never have slippage.

However, you may need to pay PCF payment or receive PCF reward.

How long does a transaction take?

It would take about 5 seconds to synchronize the transaction to the block-chain(side-chain).

You don't need to worry about price changes during the transaction, because the execution price is calculated since the moment you placed the order, not the price at the moment price you see execution.

How is PnL calculated?

With the fluctuation of prices, you may receive unrealized profit or unrealized loss.

When you close orders, we will calculate your actual profit and loss (after calculating trading fees and PCF).

Because you may receive or pay PCF, your actual profit and loss will be bigger or smaller than the unrealized profit and loss you see.

How is Margin Ratio calculated?

Remaining margin equity / Held position.

What happen if I open second position?

Positions of same direction will be merged into one single position, with its states adjusted accordingly.

Why my position automatically changed?

Only Automatic Reduction (maintenance margin ratio falls under 3%) may cause position to change automatically, and Mandatory Liquidation (maintenance margin ratio falls under 1%) will cause the position to be liquidated.

Is it possible that my profitable position will be closed by the system like in other exchanges?

Never.

Do I need to pay gas fee for trading?

When you place limited orders, you may need to pay gas fee for as low as $0.0001, you don't need to pay gas fees on other situations.

What derivatives can I found in Derify protocol?

Currently we support CFD for BTC, ETH etc.

More to come in the future!

How can propose new derivatives on Derify protocol?

You can participate in innovation challenge and discussions to make your ideas come true.