#Opening a Position

This guide explains how to open long and short positions on Exolane.

#Before You Start

Make sure you have:

• ✅ Connected your wallet
• ✅ Deposited USDC to your collateral account
• ✅ Enabled 1-Click Trading (recommended)

#Opening a Long Position

A long position profits when the price goes up.

#Steps:

1. Select Market — Choose the asset you want to trade (e.g., BTC/USD)
2. Click Long — Select the long direction
3. Enter Size — Specify how much of the asset to buy
4. Set Collateral — Enter the margin amount
5. Review — Check leverage, liquidation price, and fees
6. Confirm — Click "Open Long" and confirm

#Example:

Outcome:

• If BTC rises 10% → You profit $1,000 (100% gain on collateral)
• If BTC falls 10% → You lose $1,000 (100% loss on collateral)

#Opening a Short Position

A short position profits when the price goes down.

#Steps:

1. Select Market — Choose the asset
2. Click Short — Select the short direction
3. Enter Size — Specify position size (will show as negative)
4. Set Collateral — Enter margin amount
5. Review — Check all parameters
6. Confirm — Click "Open Short" and confirm

#Example:

Outcome:

• If BTC falls 10% → You profit $1,000
• If BTC rises 10% → You lose $1,000

#Understanding the Trade Panel

When opening a position, you'll see:

#Leverage Calculation

Leverage is implicitly determined by your size and collateral:

Leverage = (Size × Price) / Collateral

To increase leverage:

• Increase position size, OR
• Decrease collateral

To decrease leverage:

• Decrease position size, OR
• Increase collateral

#Opening with Limit Price

Instead of a market order (immediate fill), you can set a limit price:

1. Enable "Limit Order"
2. Enter your desired entry price
3. The order will only fill when the oracle reaches that price

#Opening with Stop-Loss / Take-Profit

You can attach protective orders when opening:

#Example: Long with protection

Entry: $100,000
Stop-Loss: $95,000 (5% loss limit)
Take-Profit: $110,000 (10% profit target)

#What Happens After Opening

1. Order submitted — Transaction sent to the network
2. Pending — Awaiting oracle price update
3. Settled — Position opens at oracle price
4. Active — Position accrues PnL and funding

#Fees

When opening a position, you pay:

Example: 0.1 BTC at $100,000 = $10,000 × 0.02% = $2 fee

#Common Issues

#"Insufficient Collateral"

You don't have enough free collateral in your account. Either:

• Deposit more USDC
• Close or reduce existing positions
• Remove margin from other positions

#"Leverage Exceeded"

The position would exceed the market's maximum leverage. Either:

• Reduce position size
• Increase collateral

#"Pending Limit Exceeded"

The market has too many pending orders. Wait a moment and retry.

#Next Steps