™️Trading

What is a margin account and how do I deposit BUSD or USDC?

Your margin account holds BUSD on apemex.exchange for Binance Smart Chain and USDC on Polygon. This account can place trades on the Apemex Margin Contract.

To deposit either currency to your margin account, click deposit and enter an amount. The first time you are making a deposit, you will have to approve the smart contract, which is a separate transaction. This is similar to Uniswap and other DeFi apps.

After you have perma-approved the amount, you can click deposit and transfer a balance of BUSD or USDC into your margin trading account. This balance will then be available for trading.

How do I make a leveraged trade using Apemex?

First deposit BUSD or USDC into your margin account as per prior instructions

Once you have a balance, choose a token pair such as WBNB/BUSD or BTC/USDC and the leverage multiplier you would like to use.

For example:

If you would like to place a long position on WBNB, press LONG WBNB.

If you would like to place a short position BTC, click SHORT BTC.

What are Stop-Loss and Take-Profit?

SL and TP are good ways to protect your trades from fluctuations.

For example:

Setting a stop loss of 10% means that if the token falls by 10%, your order will close.

Setting a take profit of 20% means that if the token rises by 20%, your order will also close.

How much leverage is available?

Up to 10x, depending on the liquidity of the token pair on Apeswap.

When you place an order, your trade will need to borrow funds from the Apemex lending pool.

If there is enough liquidity in the BUSD or WBNB pool, you can place a long on any token (because you are borrowing BUSD or WBNB to buy it with leverage).

If you are attempting to place a short on a token, please make sure that there is enough liquidity in the lending pool for that token (because you are borrowing that token to sell it).

What are the risks of leveraged trading?

In leverage trading, in an oversimplified way, the impact of the price fluctuations is multiplied by the leverage with which the position was opened. This means that at 5x leverage both your profits and losses will be multiplied by 5. Never trade with more than you can afford to lose, and make sure to do your own research before trading.

Why are there gas fees for trading?

Like all true DeFi protocols, you will need BNB for gas fees to interact with the ApemexMargin smart contract. This is because every action on the exchange is a transaction (which contains commands) on the Binance Smart Chain.

Why do I need to approve before I make a deposit?

Smart contracts require you to approve sending funds before you can do so. This is not only a security precaution, but also a result of the way that smart contracts function.

How are trades (swaps) settled on Apemex?

Trades and swaps on Apemex are verifiably settled on-chain through Apeswap on the Binance Smart Chain. There are no centralised nodes involved in the margin trading mechanism at all.

How are token pairs added?

Token pairs are added on Apemex by the multi-sig after vetting their smart contracts and liquidity. In future versions, new token pairs may be selected via token governance. This is a necessary measure to protect lending pools from overt manipulation.

Degen Protocol, on the other hand, will make it possible to add any arbitrary token pairs at will.