Glossary
Below is a index of terms commonly seen on Vortex Markets
Market Info
| Term | Description | Example |
|---|---|---|
Mark Price | Price of the asset on Vortex | $100 |
Oracle Price | Price of the underlying asset | $101 |
Funding Rate | 1/24 the average premium paid every hour. If +, longs pay shorts. If -, shorts pay longs. See Funding Rates for more info | .0015% |
Open Interest | Total size of all positions (Long and short) in the market | 300 ATOM |
24h Volume | Total volume traded in past day in the market | $5.05M |
Position Terms
| Term | Description | Example |
|---|---|---|
Market | A base/quote asset pair | ATOM/USDC |
Direction | The position’s bet on price change | LONG,SHORT |
Size | The position’s base asset value | 3.5 ATOM |
Notional | The position’s quote asset value | $1000 |
Entry Price | Average price paid (cost basis) for acquiring the position | $100 |
Exit Price | Average price realized if closing the entire position | $102 |
Liquidation Price | Soft estimate of price where liquidation of account will occur | $75 |
P&L (Profit and Loss) | Profit and/or Loss of position Calculated on difference between exit price and entry price | Exit Price - Entry Price $2 (following the above example) |
Margin Call | Leverage is larger than the inverse of margin requirement ratio. (Position may be liquidated) | Trader receives a warning that collateral ratio is too low. If unresolved, position and collateral may be liquidated. |
User Account Terms
| Term | Description | Example |
|---|---|---|
Total Collateral | The total USD value of collateral (Account Balance +/- Unrealized P&L) | 110 |
Unrealized P&L | Sum of Unrealized P&L in all open positions | 10 |
Unrealized Funding P&L | Unrealized amount collected/paid for funding payments. (Automatically realized upon a new user action) | .02 |
Free Collateral | The value of collateral that can be used to open new risk-increasing positions | 5 |
Leverage | Total Notional Position Size/ Total Collateral | 3x |
Margin Ratio | Total Collateral/ Total Notional Position Size | 50% |
Margin Debt | For a long position is the amount of cash borrowed to open the position, for a short position is the proceed from the short sale | 300$ |
Portfolio Equity | The sum of equities of all components in the portfolio: Balances, Long & Short Positions, Open Orders | 100$ |
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