Trading Page Overview

The Rails trading page is the main and most important on the platform. This is where you will place new trades, monitor open positions and analyze market trends. On it you will find the key components laid out below.

For definitions and calculations of all terms referenced here, please visit the Trading Metrics Guide.

Price Chart Understand the chart and set your favourite markets.

Order Book See what other active traders are bidding on.

Order Panel This is where you place your trades.

Market Data Real-time snapshot of key asset metrics.

Account Summary Find a real-time update of your account.

Trade Summary Access key information on your recent trades.

Recent Trades View the most recent trades (anonymized)

Price Chart

A digital asset price chart is a graphical representation of a cryptocurrency’s price movements over time. It helps traders analyze market trends, price fluctuations, and trading volume. These charts typically use candlesticks, lines, or bars to display price action. Choose your desired asset in the top left-hand corner of the screen to display its chart.

Favourites and Market Filtering

If you are only interested in a few specific assets, you are able 'favourite' the markets you trade most frequently in the Price Chart as shown below.

1. Click on All Markets on the top left of the main Trade screen.

2. Click on the yellow star beside each market that you want to mark as a ‘favourite.’ The star will fill (See below).

3. Click Show favourite markets at the bottom. This will reduce the market selector to only your favourite markets.

To undo or change your selection, click on See all markets and change as required.

Market Data

The market data displayed at the top right of the main Trading page provides a real-time snapshot of key metrics that help you assess the activity and dynamics of the asset selected in the price chart. It includes the following:

• Index Price: The current asset price in USD pulled from CoinDesk's Aggregate Index API.
• 1h Funding: The current funding rate applied to open positions, updated hourly.
• Open Interest: The total number of open contracts in the market, serving as a measure of trader participation.

• 24h Volume: The total trading volume in USD over the last 24 hours, indicating market activity.

• 24h Trades: The number of trades executed in the past 24 hours.

• Next Funding: A countdown to the next funding interval.

Order Book

The order book is a real-time, digital ledger that displays all open buy and sell orders for the asset you are viewing in the price chart. It helps traders see quantity and price levels at which others are willing to buy or sell.

The order book is divided into Buy Orders (Bids) (the prices and amounts buyers are willing to pay and Sell Orders (Asks) (the prices and amounts sellers are offering). By analyzing the order book, traders can gauge market sentiment, identify potential price movements, and make informed trading decisions. The order book also provides two great features to assist with your trades:

• The Spread, which is the difference between the highest bid and the lowest ask price in the order book. It is presented both as a $(asset value) and a % difference.

• A drop down currency switcher, where each asset's order book provides details either in units or USD value of the orders at each price.

Recent Trades

This section provides a snapshot of the most recent trades of the asset currently displayed in the price chart that have been executed. It shows both buy or sell trades with the size (quantity), price and time of each trade.

Order Panel

This is where you place your trades. Visit this article for more information on what order types are available and how to place a trade.

Account Summary

Here you will find a real-time update of your account summary, including balances, fees and trading volume.

• Available Balance: This is the amount you have available to place new trades. It remains static unless you open or close positions, realize profits or losses, or deposit or withdraw funds.

• Account Balance: This is the current, total balance of your account including both available balance and balance in trades. This consistently changes if you have open positions, as the index price of the assets you’ve traded against fluctuates.

• Funding: This is the total funding adjustment applied to your portfolio.
• P&L: Your lifetime realized profit and loss total. P&L is calculated as follows for Long and Short positions. When you close a position, the profit (or loss) you earn (or lose) becomes your realized P&L.

• Fees: The total amount of fees paid for executed trades.
• Volume: The total lifetime volume in USD you have traded.

• Unrealized P&L: The potential profit or loss from open positions. These calculations are the same as shown above, but adjust with fluctuations in your open positions in real time.

Want to know how these values are calculated? Check out the math here.

Trade Summary Tabs

The Rails platform makes it easy for you to access your key information on your recent trading activity at the bottom of the main trading screen.

Position

The Position summary tab provides real-time information on all open positions. It lists the following details:

• Market: The asset name of the trade placed (e.g. BTC-USD).

• Price: The current index price of the asset.

• Balance: The total amount in USD of the open position. This column also indicates the direction of the trade (i.e. whether the position is Long or Short).

• Size: The total asset quantity of the open position.

• Margin: The available balance being held as collateral to control the open position if leverage is used.

• Leverage: The leverage (1x to 10x) selected when placing the trade.
• Liquidation Price: The price at which the position will be liquidated if the market moves against your trade.
• Average Price: The average entry price of all trades used to fill the order.

• Unrealized P&L: The current gain or loss on an open position, based on the difference between the entry price and the current market price, but not yet locked in by closing the trade.

• Realized P&L: The accumulated profits or losses that have already settled as a result of funding.
• Trigger Orders: A place to add or change take profit or stop loss market orders against the position.

Open Orders

This section lists requested orders that have not been filled yet. It displays the following details:

• Status: The status of the open order (e.g. active)

• Market: The asset name of the open order (e.g. BTC-USD).

• Action: The direction of the trade (Buy or Sell).

• Quantity: The total asset quantity of the open order.

• % Filled: What percentage of the open order has already been filled, if not fully executed.

• Price: The limit price in USD set when the order was placed.

• Trade Type: Indicates whether the order was a limit or market order.

• Time Placed: The date and time the order was placed.

• Modify/Cancel: Buttons to enable users to cancel or modify the open order.

Trigger Orders

This section is where you find the trigger orders placed to protect your trades. It displays the following details:

• Market: The asset name of the trade placed (e.g. BTC-USD).

• Trigger Type: Indicates whether the trigger order is a take profit or stop loss.

• Trigger Price: The price at which the trigger order will execute.

• Action: Indicates whether the order will buy or sell when triggered.

• Quantity: The asset quantity that will be bought or sold when the trigger order executes.

• Price: The index price at which the the order will execute.

• Balance: The expected balance of the trade at the time of execution based on the parameters set.

• Trade Type: Indicates whether a market or limit trigger order was set.

• Reduce Only: If Yes, ensures the order will only reduce or close an existing position and never increase or reverse it.

• Time Placed: The date and time the order was placed.

Trade History

This section shows your 50 most recent completed trades from the past 7 days. It displays the following details:

• Market: The asset name of the trade (e.g. BTC-USD).

• Side: Indicates whether it was a buy or sell trade.

• Size: The asset quantity of the trade.

• Price: The asset price in USD at the time the trade was executed.

• Fill Type: Indicates whether the trade was completed or only partially filled.

• Execution Type: Indicates whether the users trade was on the Maker or Taker side.

• Completed At: The date and time the trade was executed.

For your full trading history, visit the Portfolio tab.