Trading on Hibachi

When placing a trade on Hibachi, you are trading a perpetual future contract (perp), meaning you provide collateral in USDT to go long or short on a specific asset. This differs from spot trading, where you buy the actual token itself. To learn more about the differences, please refer to this guide.

Opening a Position

To place a trade on Hibachi, first go to the top left of the screen and select your market from the dropdown menu.

Once you've chosen your desired market, navigate to the right side of the screen and select your order type. For more information on the various order types we offer, check out Order Types.

Next, decide the size of the position you want to open. You can either manually input the exact amount in the size bar or use the slider to adjust the position size based on a percentage of your max position size.

While selecting the position size, you can toggle between displaying the amount in the native asset or in USDT.

Finally, click "Buy" if you want to long the asset or "Sell" if you want to short it. On the summary page, review your order and click "Confirm" to open your position.

Closing a Position

Below the orderbook and price chart, you'll find three tabs:

• Positions: Displays all of your current open positions.

• Open Orders: Shows orders that have been placed but are not yet filled.

• Trade History: A record of all the trades you've executed.

To close an open position, you have two options: a market close or a limit order in the opposite direction. A market close will immediately exit your position but may not secure the best price.

Alternatively, placing a limit order in the opposite direction allows you to close your position at your desired price, though it carries the risk of remaining unfilled if the market doesn't move in your favor.

Market Close

To market close an open position, go to the positions tab and locate the position you wish to close. On the right side, click “Market Close,” which will show you a summary of the trade closure. Here, you can choose the percentage of the position you want to close, then click “Confirm” to complete the process.

Limit Close

To limit close your open position, navigate to the limit tab on the right side of the screen where you can place a trade. Similar to opening a trade, select the amount and your desired limit price, then choose "Buy" or "Sell" based on your original position. Opening a trade in the opposite direction will effectively cancel out your initial position. After that, click "Confirm" to create the order. Once your price limit is reached, the order will execute, and your original position will be closed.