Trading

SOBAX is a cutting-edge Decentralised Exchange platform that doesn’t require registration. To start trading on SOBAX. Trade all you need is a Web3 wallet.

Connecting your Wallet

You will need to have Zeta in your wallet to start trading.

Open a Position

In the platform, you can choose "Long" or "Short" depending on which side you would like to open a position on.

Choosing to "Long" a position earns a profit if the token's price goes up and makes a loss if the token's price goes down.

On the other side, choosing to "Short" a position earns a profit if the token's price goes down and makes a loss if the token's price goes up.

Setting Slippage

Slippage is the difference between the expected price of the trade and the execution price.

Because of the deep liquidity offered by the SOBAX. Trade pool, there are no price impacts for trades, yet there can be slippage due to price movements between the moment when your trade transaction is submitted and when it is confirmed on the blockchain.

The maximum slippage you accept for a trade can be customized by clicking on your address in the header and on the Settings button accessible from the dropdown menu.

Position Management

Once opened, your trades will be added under the chart, in the Positions list.

Leverage for a position will be displayed as (position size) / (position collateral).

Stop-Loss / Take-Profit Orders

You can set stop-loss and take-profit orders by clicking on the "Close" button and selecting the "Trigger" tab.

Here you can also select the currency in which you want your balance to be paid out when you close the position (Last section -> Receive)

• The mark price which is an aggregate of exchange prices did not reach the specified price

• The specified price was reached but not long enough for it to be executed

• No keeper picked up the order for execution

• Additionally, trigger orders are market orders and are not guaranteed to execute at the trigger price.

Partial Liquidations

In case the market goes against your trade, there will be a price at which the loss amount is very close to the collateral amount.

The Liquidation Price is calculated as the price at which the (collateral - losses - borrow fee) is less than 1% of your position's size. If the token's price crosses this point then the position will be automatically closed.

Due to the borrow fee your liquidation price will change over time, especially if you use a leverage that is more than 10x and have the position open for more than a few days, so it is important to monitor your liquidation price.

If there is any collateral remaining after deducting losses and fees, then the corresponding amount would be returned to your wallet.

Pricing

Thanks to its innovative design there is no price impact for trades on SOBAX.

Trade, even for large orders. This means, you can execute large trades exactly at the mark price.

• The mark prices are displayed next to the market name and under the swap box.

• Long positions will be opened at the higher price and closed at the lower price while short positions will be opened at the lower price and closed at the higher price.

Another advantage of the platform is that there is only a small spread for entering and exiting trades. In the example below, there is no spread or entry and exit prices remain the same.