How to Close a Position
Closing a position locks in your P&L and releases the margin back to your balance. You can close fully, partially, or automate closes with take-profit and stop-loss orders.
[SCREENSHOT: Open positions panel with close button]
Steps
1. Go to Perps — Positions Panel
On the Perps tab, open the Positions panel. All currently open positions are listed with live PnL, entry price, mark price, and liquidation price.
2. Find the Position to Close
Locate the position. Each row shows the asset, direction (long/short), size, entry price, mark price, unrealised PnL, and the funding accrued so far.
3. Click Close
Click Close on the position. You will be prompted to choose:
Full close — closes the entire position
Partial close — enter a percentage (e.g. 50%) or a specific size to close part of the position, leaving the remainder open
Partial closes are useful for taking profit on part of a winning trade while keeping exposure on the rest.
4. Choose Market or Limit Close
Market
Executes immediately at the current best price against the book.
Pays the taker fee from your tier (see Fees).
Limit
Rests at your target exit price; fills when the market reaches it.
Pays the maker fee from your tier — and may not fill if the market doesn't move there.
A market close guarantees execution. A limit close lets you target a specific exit price but isn't guaranteed.
5. Confirm
Review the closing price, estimated fee, and net PnL, then click Confirm. The position is removed from the Positions panel once filled.
Understanding Your PnL
Realised PnL is calculated at close:
Long: (Exit price − Entry price) × Size − Fees − Net funding paid
Short: (Entry price − Exit price) × Size − Fees − Net funding paid
Fees include the trading fee on the closing order. Net funding is the running total of hourly payments paid (or received) during the life of the trade — see Fees → Funding.
Success: Closing a position locks in PnL. Unrealised PnL becomes realised and is credited to your margin balance immediately after the close fills.
Automating Closes: Take-Profit and Stop-Loss
You can attach TP/SL orders when you open a position, or add them later from the Positions panel. Both trigger off the mark price rather than the last trade, which prevents accidental triggers from a single rogue print.
Market vs. Limit TP/SL
Market TP/SL
Triggers a market order with a fixed 10% slippage cap.
Highest fill probability; slippage can be meaningful in fast markets.
Limit TP/SL
Triggers a limit order at a price you specify.
Tightest price control; may rest unfilled if price gaps past your limit.
A common pattern: set a stop loss below your liquidation price (long) or above it (short) so you exit on your own terms before the protocol closes you out.
Attaching TP/SL
From the position — defaults to closing the full size. Simple and beginner-friendly. Cancellation is straightforward.
From a parent order (OCO style) — child TP/SL orders activate only if the parent fully fills, or partially fills and is then cancelled because of insufficient margin. If you cancel the parent manually, the children are cancelled too.
TP/SL on the Chart
You can drag your TP/SL levels directly on the TradingView chart on the Perps surface. Dragging a level into territory that would trigger immediately is blocked — to prevent fat-finger closes.
Info: A stop-loss placed above your liquidation price is the single biggest risk-management win on perps. It guarantees you exit on your terms, with capital remaining, rather than leaving it to the protocol.
See How to Open a Position for where to set TP/SL during order entry.
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