Vortex Protocol
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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$
Last modified 7mo ago