Levana Perps v2 Beta Testnet Tutorial
Here is a quick walkthrough of how to test out the beta of Levana Perpetual Swaps
Step 1: Load the Perps Beta trading page
You can find the trading page for the Beta at
https://beta.levana.exchange/en/trade/ATOM_USD
Step 2: Connect with your Keplr wallet
Levana Perps currently only supports Keplr, but other wallet integrations are on the roadmap.
Select Connect on the top right side of the screen.
Select Keplr Wallet.
Levana Perps is running on the Osmosis testnet, so you will need to manually add the Osmosis testnet to Keplr.
After adding the testnet, connect the beta site to your Keplr Wallet.
Step 4: Tap the Faucet
To trade, you need testnet funds. Tapping the built-in Faucet will provide them.
Select Faucet on the top right of the screen.
The Faucet has a limit of one Faucet “tap” per wallet, per day (24 hours).
To complete the “tap”, you’ll need to prove you’re human.
Complete the Captcha, (seriously can we go back to training Google to recognize road signs?).
Wait 30 seconds (refresh the page if you don’t see an updated balance of testnet ATOM tokens)
Step 5: Select the amount of ATOM you want to use as collateral for a leverage position
Let’s break down all the details of this order:
Market vs Limit vs Trigger — currently we only support Market orders, which means you buy into a position at the current market price, Trigger and Limit orders will enable you to set a price of the asset to enter and exit positions.
Long vs Short — Long means you expect the price of the asset to go up, Short means you expect the price of the asset to go down.
Amount — How much collateral you want to use to create your position.
Token Type — Which asset you want to use to buy into your position.
Leverage — Amount of exposure you want to have in the market, the higher the leverage the more profits you can make if the market moves in your favor, but also impacts the risk of the position by raising the liquidation.
Max Gains — Unique and innovative feature of Levana Perps v2. By default, long positions will remain open as long as the current price of the asset is above the liquidation price. Users pay continuous cost of capital fees to keep positions open. A user can optionally lower the Max Gain, essentially creating an automatic “take profit” point. When the asset hits the Max profit limit, the position is automatically closed and the profits are locked in. The system rewards the user for setting a Max Gain percentage by drastically reducing the cost of capital fees required to keep the position open.
Liquidation Price — Price at which your position will be liquidated. It is important to keep track of the liquidation price and to adjust the leverage or position size to prevent liquidation.
Position Size — Total notional size of the position. This is calculated by the amount of collateral and the leverage applied to that collateral.
Trade Fee — Fee associated with opening the position.
Step 6: Place your order
Step 7: View your open positions
Levana Perps v2 allows users to open multiple positions in the same market. This is because a user may have multiple strategies they want to execute at the same time. Some high leverage positions may be for short term price swings, but have higher fees, and some positions may have lower Max Gains or lower leverage but are designed to be kept over for longer periods of time.
You can see your open positions below the price chart.
Let’s review the terminology:
Direction — Is your position is long or short
PnL — Keeps track of your profits or losses on this position
Position Value — Current value of the position if it was closed now
Position Size — Size of the position based on the leverage applied
Leverage — Amount of leverage in the position. As fees are taken from the collateral, the exact leverage amount will fluctuate.
Entry Price — Price of the asset when the position was opened
Liquidation Price — Price that if the asset drops to this price or below, the position will be closed
Max Gains Price — Price of the asset which would cause the position to close in profit
Max Gains Remaining — Amount of gains that the asset can achieve until the Max Gains are reached
Step 8: Edit your position
You can edit any position by tapping that position on the Open Positions column. You can update the order and change the amount of collateral, the leverage multiplier, and the Max Gains on the position.
Step 9: Close your position
Closing your position is a little tricky with the current beta UI/UX, we’re streamlining this in a future front end facelift.
Select the check box next to the positions you want to close.
Select the word Close above the positions list.
Step 10: View your closed positions
You can always view your previously closed positions by clicking the Closed Positions Tab
This will show you historical information about the positions you closed.
Step 11: Get Help/Give feedback
Let us know what you think by clicking the Help button. Need assistance? Want to tell us what features you want to see, what worked and what didn’t work for you. It’s all available from the Help menu.
