Trading
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Your margin account holds BUSD on 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.
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.
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.
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).
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.
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.
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.
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.
Up to 10x, depending on the liquidity of the token pair on
Trades and swaps on Apemex are verifiably settled on-chain through on the Binance Smart Chain. There are no centralised nodes involved in the margin trading mechanism at all.
, on the other hand, will make it possible to add any arbitrary token pairs at will.