Closing a Position

Closing your position on OrbDex can be done at any time, either to realize profits or cut losses. There are two primary ways to close a position:

• Market Close: The simplest method is to close at market price. From the Open Positions list, locate the position you want to close and click the “Close” button (often there is a quick option like “Close 100%” or a small “X” icon). OrbDex will prompt a transaction to close your position at the current market price. Confirm the close in your wallet. This will execute a market order for the opposite side of your position (if you were long, it will sell; if short, it will buy) for the full remaining size. Once executed, your position size goes to zero and it will disappear from Open Positions. The realized PnL from the trade (profit or loss) will be reflected in your account balance.

• Limit Close (Take-Profit/Limit Order): Alternatively, you can set a limit order to close your position at a specific price. This is essentially like placing a take-profit manually. For example, if you’re long BTC-PERP from $30,000 and you want to close at $32,000, you can place a sell limit order at $32,000 for the size of your position. If the market rises to $32,000, your order will fill and close the position. You can do this through the order entry panel (just like opening, but ensure you select the opposite direction and correct size). If you had previously set a Take-Profit order via the interface when opening the position, that order already exists in Open Orders, and you don’t need to create a new one unless you want to modify it.

• Partial Close: You can choose to close only part of a position. To do this, use a limit or market order for a portion of your position size instead of the full amount. The platform will reduce your position accordingly. For instance, if you have 10 ETH long and you market sell 5 ETH, you’ll be left with a 5 ETH long position open.

• Cancel Stop/Take-Profit if needed: If you manually close a position that had associated Stop-Loss/Take-Profit orders, OrbDex should automatically cancel those now-irrelevant orders. It’s good practice to verify that any open orders tied to the closed position are removed. If not, you should manually cancel them to avoid unexpected trades.

Once a position is closed, check your Wallet/Balance section – your collateral that was tied in that trade (plus any profit, or minus any loss) is now released and back in your available balance. At this point, you have successfully round-tripped a trade on OrbDex from opening to closing.