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Last updated
Last updated
ZO allows you to take both long and short positions with leverage, using a range of index tokens as collateral.
Long vs. Short
Long: You profit when the token’s price goes up.
Short: You profit when the token’s price goes down.
After selecting a position direction, choose your collateral token from the dropdown menu. The platform will display your collateral value in USD.
Next, enter the amount of collateral you want to use and select a leverage level. ZO automatically calculates your position size based on these inputs.
Example:
You’re entering 10 SUI as collateral (~$21.42 USD), and choosing 10x leverage.
Position Size: 97.0874 SUI (~$207.99 USD)
Leverage: 10x
The trading fee to open and close a position is normally 0.15% - 0.3% of the position size.
"Reserving Fee Rate" is deducted every 8 hours, which is paid to liquidity providers based on the reserve amount. The hourly reserving fee is calculated as (borrowed assets) / (total assets in the pool) * 0.01%.
Although trades don't cause price impacts, potential slippage can occur due to price changes between when a trade is submitted and confirmed on the blockchain. Slippage represents the disparity between the expected trade price and the actual execution price. Customizing slippage can be done by clicking the "settings" option below "short" in the above screenshot.
At the commencement of each 8-hour period, a funding fee is also deducted. This fee can be either positive or negative to facilitate adjustments. See "Algorithm Balanced Funding Rate" for more details.
Review Trade Details
ZO automatically calculates your key trade metrics:
Entry Price: 2.142
Est. Liquidation Price: 1.928
Open Fee: 0.2912 SUI (~$0.6239)
Available Reserve: 97.09 / 67,689.45 SUI
Reserving Fee Rate: 0.0112% per hour
Click Adjust to either:
Deposit more collateral — lowers your leverage and moves your liquidation price farther away
Withdraw collateral — increases leverage and brings liquidation closer (if you’re confident in your position)
When you deposit collateral, ZO captures a snapshot of its USD value at that moment. This snapshot is used to determine your position size, which remains fixed regardless of future price movement.
You can close your position at any time — either partially or fully — directly from the Positions tab.
Go to the Positions section of the trading interface
Click Close next to the position you want to exit
Choose to close the entire position or just a portion of it
Confirm the transaction
ZO will handle everything in the background — from calculating PnL to returning your funds.
Losses occur in the opposite direction of your position.
