Looking for some leverage? You’ve come to the right place. Fulcrum lets you margin trade and this guide will show you how. You will need an Ethereum wallet, some ETH to pay for transactions, and ERC20 tokens to use as collateral.
Step 1: Connect your wallet
Click on “Click to Connect Wallet” in the top right corner.
Select your preferred Ethereum wallet. For this guide, we will be using MetaMask, but you can connect using any of the wallets listed below.
Step 2: Select your market
Once connected, choose the market you want to trade from the “Select market” dropdown menu.
In this guide, we will use WETH-DAI as our example.
Step 3: Select your leverage
Go to the bottom of the page and choose your desired leverage for a long or short position
You can use up to 5x leverage. In this example, we will open a long position with 5x leverage. When you’ve chosen your leverage, click “Buy”.
Step 4: Choose position size
Decide how big or small you want your position to be. In other words, decide how much you want to bet.
Confirm the transaction.
Step 5: Manage your position
Your newly opened margin trade will now be viewable on the Fulcrum user interface. You can see the size of your position as well as the liquidation price and interest APR.
If you click on the “Manage” tab near the top of the page, you can see all of your open positions and trade history. The example below contains both long and short positions in two markets: WETH-DAI and WBTC-USDT.
Manage Collateral (Optional)
Clicking on the “pencil” icon next to the collateral amounts will allow you to add or withdraw collateral from your open positions.
Step 1: Adjust Collateral
To add or remove collateral from your loan, adjust the slider between left and right.
Step 2: Withdraw Collateral
To remove collateral from the loan, move the slider toward the “Withdraw” side. Click “Withdraw”.
Withdrawing collateral will make your loan riskier and more susceptible to liquidation.
Step 3: Add Collateral
To add collateral to your loan, move the slider to the “Top Up” side. Click “Top Up”
Topping up collateral makes your loan safer and less likely to get liquidated.
Sell Position (Optional)
To begin selling your position, click “Sell”.
You can choose to partially or completely sell your open position. In this example, we will completely close or exit from our trade. To do this, choose to sell 100% of the position.
You’ve now exited your position. Hopefully, you made some money. 🤑