Trading
How to trade on DeFunds?
Last updated
How to trade on DeFunds?
Last updated
To trade on the DeFunds platform, navigate to the main window of your fund and scroll down to find the 'Trade' button in the menu on the right. Click it.
Notice that if you don't trade by yourself, only the appointed manager will have access to trading.
After clicking the 'Trade' button, you will be able to choose among the trade services you've selected during the fund creation.
By choosing 'Swap', you can directly exchange one token for another using 0x. It's quite straightforward. To do so:
1) Enter the desired amount of one token or another. You can switch between tokens by selecting from the provided lists.
2) Once you've entered the desired amounts, the 'Swap' button will activate.
3) Click it, sign the confirming transaction, and the swap will be executed.
The second most common trade service on DeFunds is GMX. With GMX V2 terminal built-in on DeFunds, you have access to most GMX terminal features. For example, you can switch the time of chart refreshment or selected token/USD chart by clicking on the lists above the chart.
Using GMX, you can:
1) Open Long or Short positions: Choose the needed section in the upper right menu and set the desired number of tokens in the position in the text field. You can also set the leverage up to 50x.
You can also set slippage during the creation of the position. Note that allowing low slippage, e.g., less than 0.30%, may result in failed orders if prices are volatile.
2) Create Limits and Stop Loss / Take Profit (SL/TP) Orders for relevant positions: Open the section for which you want to open an order (long/short) and the matching tab below. Then set the desired numbers, click the button 'Create', and sign the confirming transaction. You can also create SL/TP orders by clicking 'SL/TP' on the position itself.
3) Manually edit or close positions: Click on the 'edit' or 'close' buttons directly in the position card (shown on the screenshot below). Different windows will pop up:
3.1) 'Close' window allows only to close the desired position.
3.2) 'Edit' window allows both to deposit or withdraw some funds to/from the position being edited.
Important Note: Every operation in DEX needs confirmation by signing a MetaMask transaction. To perform these transactions, you need to have tokens of the chosen chain in your MetaMask wallet to pay network commissions.
Important Note 2: To make changes to a position, make sure you have USDC in your account, as all changes are made through it. If you don't have USDC in your account, you can use our internal swap or an external service to exchange.
To fasten these processes, you can use One-Click Trading. More about this feature can be found in the special instruction.
Additionally, there are several Frequently Asked Questions about trading with GMX, which will be addressed in yet another special instruction.
