1. Please make sure your wallet is using the Arbitrum One network, and it's connecting to MCDEX.
2. Select the perpetual contract you want to trade.
3. Select the type of order you want to place.
4. Set up the leverage that you prefer. Adjusting the leverage will require you to confirm the action in your wallet
Note: MCDEX allows up to 25x leverage.
5. To open a long position, select the “Buy/Long” option; to open a short position, select the “Sell/Short” option.
6. Set the targetted underlying asset price for opening your position.
7. Enter either underlying asset or USDC amount for the position(the amount in the two fields will adjust accordingly). You can also use the slider to enter the amount.
8. For market price orders, you can adjust slippage tolerance and max order percentage under “Advanced Settings.” For limit or stop-limit price orders, you will be able to change the order expiry time, min trade amount and max order percentage under “Advanced Settings.”
9. Once you have finished setting up and are ready to open the position, depending on the position type, click the “Buy/Long” or “Sell/Short” button to open the confirmation dialog.
Note: If you currently have a long or short position with this perpetual contract, the "Close only" option will appear when you try to open an opposite side position. By choosing "Close only," after placing the order, the opposite side position will be applied to your existing position to close it.
Note: For a “Close only” order, the amount cannot be higher than the amount from the existing order.
If you want to open a limit price or stop-limit price order, you will also need to add broker gas beforehand, so MCDEX can place your order to open the position when the market price reaches your targeted price.
10. Click the Buy/Long or Sell/Short button on the confirmation dialog to open the position. You will need to confirm this action in your wallet.
11. You can find your open positions under “Positions.”