🧊Interface

Bitoro is a decentralized exchange allowing trading without the need for a username or password. In addition to aggregated liquidity, the platform also uses an aggregate price feed which reduces the risk of liquidations from temporary wicks.

Market

Bitoro features a market dropdown selection that allows users to easily switch between different trading pairs and assets. By clicking on the market dropdown in the top-left corner of the trading interface, users can browse through an extensive list of available perpetual contracts, selecting the desired asset to trade.

By clicking on the "heart" icon to the left of the trading pair, you are adding that pair to your watchlist which shows on the main trading screen, above the market data section.

Liquidity Source: Orderbook <> AMM

By selecting "Orderbook" you will trading via Bitoro's Orderbook, and by selecting "AMM" you will be trading via Bitoro's AMM. Both have unique features that we will discuss below.

Orderbook

The "Place Order" panel on Bitoro enables users to enter and manage their trades efficiently. Here is an outline of what all the components within it mean:

Buy and Sell

To initiate a trade, you can use the "Buy" and "Sell" buttons to switch between longing and shorting a particular asset, respectively. Clicking on "Buy" means you are entering a long position, speculating that the asset's price will rise. Conversely, clicking on "Sell" means you are entering a short position, speculating that the asset's price will decline.

Order Amount

You can enter the order amount manually in the input field or by dragging the leverage slider. The leverage slider allows you to adjust the size of your position based on the desired leverage. As you move the slider, the order amount will update accordingly. This feature helps you quickly adjust your position size according to your risk appetite and available margin.

You may also switch your input preference between the current asset and USDC. This option provides flexibility in expressing your order amount in terms of the asset you are trading or its equivalent value in USDC.

Enable Trading / Connect Wallet

Click here to either connect your wallet or to enable trading (you will need to enable trading once your wallet is connected for the first time in order to deposit funds and place your first trade).

Order Limit Size

This shows the amount of liquidity for a selected market that is likely to be available immediately upon execution of the trade / market order. Any amount above the order size limit could be converted to a limit order until further liquidity is available. We provide this as a guide only.

Liquidation Price

Once your trade details are entered, this will show the price at which your position will be liquidated should the trade be executed. This price is a function of the current market price, account collareral and positon leverage.

Fees

This shows the total fees that will be deducted on execution of the trade, a combination of Bitoro's position fee and fees assessed by the underlying protocol (please see Fee Structure section for futher details on fees).

Orderbook Account

The section allows the user to deposit USDC to their account, settle outstanding PnL, and withdraw USDC from their account. This also shows the account balances, inlcuding unsettled PnL on open and closed trades.

Further information on entering and executing trades on the Orderbook is provided in our Tutorials section.

AMM

Buy/Sell and Order Amount

The only real difference between the Orderbook and AMM trade screens, is that our AMM allows the user to select between a number of different collateral options.

Take profit / Stop loss

The TP/SL feature allows traders to enter trigger prices whereby their trade will be closed out when the market hits a certain level to either 1) take profit after a certain point, 2) stop losses after a certain point, or both.

Further information on entering and executing trades on the AMM is provided in our Tutorials section.

Chart

Bitoro offers an integrated TradingView chart. The chart provides a visual representation of an asset's price movements over various timeframes. You can switch between timeframes such as 15 minutes, 1 hour, 1 day, 1 week, 1 quarter and 1 year, by selecting the desired option.

The TradingView chart offers advanced charting tools and additional customization options.

Key Data Points

Above the chart, you will find several important data points that provide a snapshot of the current market conditions for the selected asset. These include:

  1. Index Price: The index price represents the current fair market price of the underlying asset, derived from multiple exchanges. This price serves as a reference point for the perpetual futures contracts.

  2. 24H Change: The 24-hour price change shows the percentage change in the oracle price of the asset over the past 24 hours. This metric provides a quick overview of the asset's recent performance and helps identify potential trends.

  3. 24H Volume: The 24-hour trading volume represents the total value of all trades executed on all available underlying protocols for the selected asset during the past 24 hours. This metric indicates the liquidity and trading activity for a particular asset.

  4. Open Interest: Total open interest refers to the cumulative value of all open positions in the selected asset on all available underlying protocols. This metric provides an indication of the market's overall exposure and interest in a specific asset.

  5. Funding Rate: The current funding rate is the periodic payment exchanged between long and short positions holders in a perpetual futures contract. This rate ensures that the oracle price remains close to the index price over time. A positive funding rate means that long position holders pay short position holders, while a negative funding rate means that short position holders pay long position holders (Note: funding rate is not shown on our AMM).

Orders & History

The "Orders & History" section on Bitoro provides an overview of your trading activities, allowing you to keep track of your open trades, open orders, closed positions, and trade history. This documentation will explain each tab within the "Orders & History" section to help you better understand your trading history on the platform.

Positions

The "Positions" tab displays a list of your active trades on Bitoro across all markets. These trades are still open and have not yet been closed. For each trade, you will see information about the trade details. You have the option of closing a trade directly from this window via "Close Trade" button.

Orders

The "Orders" tab shows all open orders across all markets. When you place an order, it initially enters a pending state until it is executed by keeper bots. During this time it will appear under "Orders". Once your order is executed, it will appear finalized in the "Positions" tab.

History

The "History" tab shows all executed trades, across all markets, with associated details, including timestamp.

Orderbook & Recent Trades (Orderbook Only)

The "Orderbook" and "Trades" sections on Bitoro provides a real-time overview of all recent orders and trades executed across all available underlying protocols for that particular market. This information offers valuable insights into the market's trading activity and can be useful for understanding market trends and making informed decisions.

In the "Trades" section, you will find the following data for each trade (with the same for "Book" apart from the timestamp):

  1. Price: The price at which the trade was executed. This data point provides an insight into the current market price for the asset and can be useful for identifying potential entry or exit points for your trades.

  2. Size: The size represents the size of the trade, expressed in terms of the traded asset. This information can help you gauge the relative size of each trade and identify significant transactions that may impact the market.

  3. Time: The time of execution indicates when the trade was completed. This timestamp provides a chronological view of recent trading activities, allowing you to monitor market trends and identify potential patterns or shifts in sentiment.

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