Creating Spot Orders is similar to Margin Orders. The only difference is that on Spot 1X (equivalent to leverage 1X, i.e. no leverage) no borrowed liquidity is used, hence Credit Buckets are not involved. Instead, traders trade only funds they possess in their wallet or trading account balance.

To create a Spot Market Order, please follow the steps below.

NOTE: A Market order is an instant order, meaning that you are ready to buy/sell an asset at the current market price depending on the DEX(s).

In this step, you are supposed to select the asset you want to Sell and the one you want to Buy in exchange by looking for the available assets in the drop-down lists.
​

It's important to stress that when trading on Spot 1X on Primex you can open both Long and Short positions.
​
In a nutshell, Long is when you anticipate the price of the asset to go up, so you wish to Buy it at a lower price and Sell at a higher price later to make profits.
​
On the contrary, when opening a Short position, you expect the price of the asset to drop, so you Sell it at some point to Buy it later when it's cheaper.
​
Let's say we have asset A and asset B. On Primex Long A means Short B and vice versa, so you always Long the Buy asset and Short the Sell asset.
​
In the example below, to switch between Long and Short WBTC against USDC You can switch Sell and Buy:

You can either enter the Sell or Buy amount and the other side of the trade will be calculated automatically. Here you can also see the price of the asset against the other side which you can switch by clicking on the green arrows next to it.

You can either enter the position size manually or click on MAX to use the whole Available which would use your whole balance in the asset being sold.
​
You may select the balance you would like to spend in this trade (Wallet or Account).

You can either choose a specific DEX or one of Primex's DEX aggregation mechanisms.

​

Usually, traders want to control the risk of their position according to their trading strategy, so they decide upfront when they are going to exit it (fix their profits and limit losses). For this purpose, Primex offers closing conditions you can preset, such as Take Profit and Stop Loss.
​
​NOTE: You can set one or both conditions at the same time as they use different trigger prices.

Take Profit price is the trigger price at which the asset will be sold (for Long) or bought (for Short) to realize some profit, which you can set in %. Alternatively, you can enter a specific price manually.

Stop Loss price is the trigger price at which the asset will be sold (for Long) or bought (for Short) when the market price goes against a trader's expectation, thus fixing some loss that satisfies their trading strategy. You can either set the loss in % or enter the Stop Loss price manually.

​

In the hidden options, there is also another menu called Expert Mode. It is similar to expert mode on DEXs so it may be familiar to you if you are handy with them. It allows you to choose a custom Slippage tolerance and Transaction Deadline before proceeding to position opening.

We recommend using it only if you are confident about what you are doing.

That's it! Your position is open. You can learn about how to close or modify it from the respective links.

​