How to Close a Position
Closing a position locks in your PnL and releases the margin back to your balance. You can close fully, partially, or automate closes with take-profit and stop-loss orders.
1. Open the Positions Panel
Section titled “1. Open the Positions Panel”All open positions are listed with live PnL, entry price, mark price, and liquidation price.
2. Click Close
Section titled “2. Click Close”Choose:
- Full close — closes the entire position
- Partial close — enter a percentage or a specific size, leaving the remainder open
Partial closes are useful for taking profit on part of a winner while keeping exposure on the rest.
3. Choose Market or Limit Close
Section titled “3. Choose Market or Limit Close”| Close type | How it works | Fee impact |
|---|---|---|
| Market | Executes immediately at the best price, within your slippage tolerance. | Pays the taker rate. |
| Limit | Rests at your target exit price; fills when the market reaches it. | Pays the maker rate — but may not fill. |
4. Confirm
Section titled “4. Confirm”Review the closing price, estimated fee, and net PnL, then confirm. Closing a position also cancels any TP/SL triggers attached to it.
Understanding Your PnL
Section titled “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
Net funding is the running total of hourly payments paid (or received) during the life of the trade — see Fees → Funding.
Automating Closes: Take-Profit and Stop-Loss
Section titled “Automating Closes: Take-Profit and Stop-Loss”Attach TP/SL when you open a position, or add them later from the Positions panel. Both trigger off the mark price rather than the last trade — this prevents accidental triggers from a single rogue print.
- Attached at entry — the TP/SL arms only once your entry order actually fills.
- On an open position — by default the full position closes at market when the trigger fires, within your global slippage tolerance. Triggers auto-cancel once the position closes.
Market vs. Limit TP/SL
Section titled “Market vs. Limit TP/SL”| Variant | Behaviour | Trade-off |
|---|---|---|
| Market TP/SL | Triggers a market order, capped by your slippage setting. | Highest fill probability; slippage can matter 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 on your side of the liquidation price so you exit on your own terms, with capital remaining, rather than leaving it to the protocol.