Placing a trade
With Verus you describe the position you want and let Verus choose where it executes. This page covers the order flow, sizing, leverage, protective orders, managing an open position, and where to see your savings.
Entering a position
- Select your asset and leverage. If your leverage is above a given venue’s cap, that venue is excluded from routing for this trade.
- Enter your trade size. Optionally enter an expected hold time so Verus includes funding costs in the venue comparison (see Best execution).
- Add a take-profit or stop-loss (optional). You can set either or both before you open, and they are attached as the position opens. See Take-profit and stop-loss.
- Open the trade. Verus routes it automatically to the venue with the lowest all-in cost and sends only that trade’s collateral there. No extra wallet confirmations are needed.
You do not pick a venue per trade. Verus models the full cost of your exact trade on each eligible venue and routes to the cheapest one. You can turn individual venues off for your account under Account -> Venues, and routing then runs across the venues you leave enabled.
Sizing in USD
When you size a trade in USD, the number you enter is the order value (the
position’s notional), not the margin you put up. Verus converts it to a token size
at the current price (size = usd / price), and your margin is then derived from
it: margin = order value / leverage. Changing leverage changes how much margin
the trade requires, not how big the position is.
For example, $1,000 of BTC at a price of $50,000 is 0.02 BTC of notional, regardless of leverage. At 10x leverage that locks roughly $100 of collateral; at 5x it locks roughly $200. The position is the same size in both cases.
The size input has a Size / USD toggle, so you can type either the token size or the USD order value, and a percent slider denominated in your buying power if you would rather size as a share of what you can currently deploy.
The converted token size is rounded down to the venue’s size tick, so the
effective notional may be slightly less than the USD you typed (typing $20
on a high-priced asset can floor to, say, $19.28). The trade panel always shows
the actual notional (Exposure) and the actual margin that is used, both reflecting
the trade that will really execute, not the USD you typed.
Leverage and risk
Leverage sets how much margin backs your order value. Higher leverage locks less collateral but moves your liquidation price closer.
Each venue caps leverage per asset, and the caps differ from venue to venue. A venue whose cap is below the leverage you chose drops out of routing for that trade, so a high-leverage order is compared across a smaller set of venues.
Higher leverage means a closer liquidation price. Even a small position can be fully liquidated on a modest adverse move. Only risk what you can afford to lose.
Order types
Verus exposes market and limit orders, plus take-profit and stop-loss protection (below).
Limit orders carry a time-in-force selector:
| Time in force | What it does |
|---|---|
| GTC (Good Till Cancel) | The default. The order rests on the book until it fills or you cancel it. |
| IOC (Immediate Or Cancel) | Fills whatever it can right away, then cancels the remainder. |
| Post-Only | Only rests on the book. If it would trade immediately against the book, it is not placed. |
Not every venue supports every option, so the selector shows the choices the routed venue actually supports.
Take-profit and stop-loss
Take-profit and stop-loss are available on every venue. You can set them two ways:
- When you open a position. The levels you enter are attached as the position opens, including on the pool-based venues GMX and Ostium.
- On an open position. You can add, change, or remove either level later from the position.
You can express a level three ways, whichever you think in:
- an absolute price,
- a percent gain or loss,
- a dollar PnL amount.
As you type, the input shows the fee-aware net PnL at that level and how far the price has to move to reach it, so you are looking at what you would actually keep, not a gross number.
When a take-profit or stop-loss fires at the venue, the position closes there and the freed funds are returned to your account automatically (amounts below the venue’s withdrawal minimum wait at the venue until they can be withdrawn).
An entry with a take-profit or stop-loss attached is shown as a single bracket row rather than as separate unrelated orders, so the protection stays visually tied to the position it belongs to.
Managing an open position
Once a position is open you can:
- Partially close it, closing a fraction of the size and leaving the rest running.
- Add or remove margin on the position, which moves its liquidation price without changing the position size.
- Edit a resting limit order that has not filled yet.
- Cancel orders that you no longer want to rest.
Isolated margin
Every position uses isolated margin. Only the collateral for that trade is sent to the routed venue, and a liquidation can consume only that collateral, not your other positions or your account balance.
Closing a trade
When you close, your collateral plus any realized profit (or minus any loss) returns from the venue to your account. From there you can redeploy it or withdraw to an external address. See Deposits & withdrawals.
Your savings
After a trade closes, open the Savings tab to see your realized savings: the amount you actually saved versus the alternative venues, based on the trade that really happened, not just the pre-trade simulation.