Trading on V1 (Testnet)

Introduction

Welcome to DeriW, the decentralized perpetual contract trading platform where security and high capital efficiency are paramount. Our platform boasts low fees and minimal slippage, ensuring a seamless trading experience. With leverages of up to 100x, DeriW empowers users with non-custodial services, allowing them to securely manage their funds while maximizing trading opportunities.

Adding a Wallet

Before you start trading on DeriW, you will have to sign in with your wallet. Sign in with any of the supported Wallets or create a new one for your convenience. Refer to Deriw Testnet FAQ for more information on supported wallets.

Connecting Your Wallet

Once you have a wallet, you can link it by clicking the "Connect Wallet" button on the Trade page. Alternatively, you can manually add the network:

Trade

Visit the DeriW website and click on Trade.

Below is what the Trading inferface of DeriW looks like.

Price Chart

Users have the option to observe the DeriW candlestick price chart, which allows them to track historical pricing within the day or adjust the time interval to view daily, weekly, or monthly data.

Trade Sidebar

Within the trade sidebar, you have the ability to select your position mode, margin mode, order type, and adjust leverage for your position.

Order Book

The order book provides a view of the current open orders. It displays price, size, and the available sum for both bids and asks.

Position Section

In the position section, users can monitor their current positions, open orders, order history, trade history, transaction history, and assets. Users can also review their unrealized PnL (uPnL), estimated liquidation price, margin ratio, and other pertinent information related to their current positions. Additionally, users can close their position directly from this window using either a market or limit order.

Opening a Position

On the Trade page, click "Long" or "Short" based on your preference for opening a leverage position. Long positions profit from price increases and incur losses with price decreases, while short positions work oppositely. Specify the amount and leverage, and note the "Exit Price" below the swap box, which calculates profits for immediate position closure.

Closing a Position

Partial or complete position closure is possible by clicking "Close" in the position row. Profits for long positions are paid in the token being longed, while short positions yield profits in the stablecoin used to open the position.

Stop-Loss / Take-Profit Orders

Create trigger orders for stop-loss and take-profit by selecting the "Trigger" tab. Trigger orders appear in your position's row and can be edited or canceled manually.

Market Order / Limit Order

Market order is executed at the best available price in the order book and prioritizes immediate execution over price, meaning the trade is filled as soon as there are matching orders in the order book. Limit orders allow users to set a specific price at which they are willing to buy or sell an asset. They are added to the order book and are only filled when the market reaches the specified price. Swap between Market/Limit orders easily on DeriW.

Leverage

On DeriW, you can leverage up to 100x on your trade both on limit and market orders.

Liquidations

Monitor your liquidation price, which changes over time. Deposit collateral to improve liquidation price and reduce the risk of liquidation. In case of liquidation, remaining collateral after losses and fees is returned.

Rebates

Based on the choice of fees on the platform chain, rebates will be returned in the corresponding currency, with the same rebate ratio and fee rules.

Stablecoin Pricing

During stablecoin depegging, short positions incur collateral costs based on a spread from 1 USD to the official price. Profits for short positions are paid out based on a price of 1 USD or the current official price, whichever is higher. Swaps using depegged stablecoins also have a spread.

Long positions remain unaffected, but a warning is displayed if a large spread exists when swapping from a depegged stablecoin to long collateral. Alternative swap platforms can be considered to execute the swap before opening a long position.