> For the complete documentation index, see [llms.txt](https://onchain-cc.gitbook.io/onchain-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://onchain-cc.gitbook.io/onchain-docs/perps/how-to-close.md).

# 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

| Close type | How it works                                                       | Fee impact                                                                             |
| ---------- | ------------------------------------------------------------------ | -------------------------------------------------------------------------------------- |
| Market     | Executes immediately at the current best price against the book.   | Pays the taker fee from your tier (see [Fees](/onchain-docs/perps/fees.md)).           |
| 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](/onchain-docs/perps/fees.md#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

| Variant      | Behaviour                                              | Trade-off                                                                |
| ------------ | ------------------------------------------------------ | ------------------------------------------------------------------------ |
| 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](/onchain-docs/perps/how-to-open.md) for where to set TP/SL during order entry.


---

# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.

## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://onchain-cc.gitbook.io/onchain-docs/perps/how-to-close.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.