Spot
Trade spot markets with ease.
Last updated
Trade spot markets with ease.
Last updated
Tutorial Contents:
Spot Overview
Spot Markets & Collaterals
How to Place a Spot Trade
Margin Spot & Auto Borrowing
Managing Balances
Spot trading refers to the actual buying and selling of assets. Spot trading is different than trading perpetuals, which refers to the buying and selling of derivatives that represent the underlying asset.
The spot markets available on Vertex depend on what chain you are on since the asset must exist on the chain. The spot markets are listed below.
Spot markets are displayed using ASSET-QUOTE whereby an asset could be wETH and the quote USDC.
If you are buying an asset = You will sell the quote.
If you are selling an asset = You will receive the quote.
Traders must have enough of the quote currency to perform the trade. Alternatively, users can automatically borrow against their account’s margin to trade with larger sizes -- see the "Margin Spot" section further below.
On Vertex, spot assets are referred to as “Balances:"
Balances that have collateral weighting will impact your account’s available margin.
All balances have a deposit and borrow APR. You earn the deposit APR automatically when holding the asset, and pay the borrow APR automatically when borrowing the asset.
In the market specifications sections below, you will find a list of all spot assets their market and collateral values for each Vertex Edge chain -- if they have one.
Below are the general steps to placing a spot trade on Vertex. Further information is outlined in the sections after.
Go to the spot market you want to trade.
Use the trade drop-down.
Press ‘/’ on the keyboard and type the asset.
Decide if you want to trade using Spot Margin (see section below).
Decide if you want to Buy or Sell the asset.
If you are buying, the interface will show you the quote you have available.
If you are selling, the app will show you how much of the asset is available to sell.
Decide what order type you want to use.
Enter the order details:
Amount of assets to buy or sell.
Estimated total quote to sell or receive.
Percentage of your max order.
Optional: Use the advanced drop-down for more order settings.
Review the summary below the submit button.
Click the Buy or Sell submit button to place trade.
If successful, you should receive a "order placed" notification.
NOTE: You don't need to sign to place orders unless you have one-click trading switched OFF.
Spot margin mode allows traders to borrow assets when trading spot markets.
As a result of Vertex’s unique design and integrated money markets, borrowing is facilitated automatically against the trader’s account margin.
Example:
You have 100 USDC.
You also have other deposits such as wETH and wBTC.
Your account has $1,000 of available margin.
You want to place an order for 0.002 wBTC with a cost of 200 USDC (100 more than you have).
You enable Margin Spot which lets you automatically borrow extra USDC to execute the order.
After the trade fills, you will have a balance of -100 USDC (i.e., you are now borrowing 100 USDC).
You can repay his USDC borrow by:
Selling other assets for USDC.
Depositing USDC directly.
Spot Margin is very helpful for traders looking to trade Spreads. Often these traders need larger spot positions to offset the perpetual position.
Margin spot allows the trader to quickly buy that amount of the spot asset without needing to manually sell or borrow.
You can view Balances via:
The ‘Balances’ table under the chart on the reading page.
The ‘Balances’ table on the Portfolio Overview page.
The ‘Balances’ page.
On each Balance, you will find it’s details and actions to the right:
Balance: the amount deposited (+) or borrowed (-).
The value of the balance.
The deposit APR.
The borrow APR.
Actions: Deposit / Withdraw / Borrow / Repay.
Borrows are indicated by a negative balance. They can be repaid via one of the following ways:
Depositing the asset.
Purchasing the asset via a spot order. In the case of USDC, you would sell another asset to “purchase” USDC.
Using the “Repay” feature to convert / swap for the borrowed asset, which is a simplified workflow that places a market order through the spot market.
To easily access deposit and convert workflows, click on the “Repay” option under the spot balances table.
