Opening a Position

What is a Position?

When opening a leveraged trading position on TsunamiX V2 you specify three inputs:

  • Trade Type, either going Long or Short

  • Collateral Amount, can be in any TLP asset for longs, and stablecoins for shorts.

  • Leverage, which can be any value between 1.1x & 20x (for now!)

By submitting the order and confirming the transaction, your specified inputs will be used to create a User Position tied to your wallet on the blockchain.

User Positions consist of the above inputs, along with the following parameters:

  • Entry Price, the average oracle price at the time of order creation

  • Market Price, the current oracle price for the underlying asset

  • Liquidation Price, the price at which your collateral is liquidated

  • Net Value, Initial Collateral + PnL - Borrow Fees

  • Size, defined as Collateral * Leverage

TsunamiX V2 offers the following order types to open a new position:

  • Market: Order will fill near the current mark price. The difference between where the order is executed and the current mark price is determined by any artificial slippage and/or execution delay due to keepers.

  • Limit: Order will fill at selected limit price or better. For longs, if limit price is set above mark price, then the order is treated as a market order. For shorts, if the limit price is set below mark price then the order is treated as a market order.

  • Stop Limit: A limit order will be activated when the price reaches the stop price. Stop price must be placed above mark price for longs and below mark price for shorts. If not the order will be triggered as a market order.

As the Market Price increases or decreases, so will the value of your Collateral & Position Size.

The more leverage you take on, the more profit you make for changes in Market Price.

*Market, limit, and stop orders are not guaranteed to execute*

How to Open a Position

In order to open a position go to and toggle the trading module to V2, then select the type of position you would like.

Once you select a position type, you need to choose an asset to Long or Short. Below is what the UI looks like when you are longing BONK.

Once your position is open it will be displayed in the Activity Section, which can be found at the bottom of the trading screen:

Enter a collateral amount above the minimum $5 and choose the amount of leverage to use on the position. These two factors determine the Position Size:

posSize=Collateral×LeverageposSize = Collateral × Leverage

The average entry price and position size will determine the position quantity as follows:

posQty=posSize/entryPriceposQty = posSize​/entryPrice

Example: If a user longs BONK/TUSD at $0.000021585175 and selects 10x leverage level with 500 TUSD collateral, their position size will be 5,000 TUSD and position quantity will be approximately 231,640,466 BONK.


When a trader opens a new position via market order, the order first goes into a pending state.

TsunamiX V2 maintains keeper nodes that monitor pending orders and validates positions before each order is executed at the latest oracle price.

Last updated