Opening a Position
Steps
- Choose your market: The public testnet supports ADA/USD, BTC/USD, ETH/USD, XRP/USD, and SNEK/USD
- Choose your direction: Long (price goes up) or Short (price goes down)
- Enter collateral: The amount of USDCx, USDM, or USDA you want to risk
- Set leverage: Choose your desired leverage multiplier
- Review: Check the estimated entry price, liquidation price, and fees
- Sign the transaction in your wallet
Atlas processes your order and your position appears in the Active Positions panel.
Position Details
Once your position is live, you can see the following in your dashboard:
| Field | Description |
|---|---|
| Direction | Long or Short |
| Size | Position size (collateral × leverage) |
| Collateral | Your deposited collateral |
| Leverage | Your chosen leverage multiplier |
| Entry price | Price at time of execution |
| Liquidation price | Price at which position is liquidated |
Order Modes
Market Order (Default)
Executes at the current price when processed.
Limit Order
Specify a target price. Your order only executes when the price reaches your limit:
- Long limit: Executes when price drops to or below your limit price
- Short limit: Executes when price rises to or above your limit price
Orders are Good-Til-Cancelled (GTC). If a limit price is not reached, the order remains open until it is filled or you cancel it.
Order Statuses
| Status | Meaning |
|---|---|
| Awaiting signature | The app built a transaction, but your wallet has not signed/submitted it yet |
| Pending / Submitted | Your order transaction is on its way to the chain or waiting for indexing |
| Awaiting fill | The Order UTxO is on-chain and waiting for the batcher or trigger service |
| Filled | The order was processed and the position is live or updated |
| Unfillable | The order cannot currently be filled; cancel/recover is recommended |
Seeing an order while the related position is already visible usually means there is still an on-chain order or trigger UTxO waiting to be processed or cleared. It is not automatically a stuck order.
Order Cancellation
You can cancel any unprocessed order:
- Go to Pending Orders in the dashboard
- Click Cancel on the order
- Sign the cancellation transaction
Your collateral is returned to your wallet. Cancellation is only possible if your order hasn't already been processed.
Market open orders have a 3-minute cancellation cooldown so the batcher has time to fill the order at the quoted oracle price. Limit orders, close orders, and liquidity orders can be cancelled immediately if they are still unprocessed.