Trading and Contracts

What are perpetual contracts?

Perpetual contracts are a type of futures contract without an expiry date, allowing traders to hold positions for as long as they desire.

How do I start trading perpetual contracts on IntentX?

Create an account, deposit USDC collateral, and start trading! Please visit the ‘Trading Tutorials’ pages in our docs for help with setup!

What assets are available for trading with perpetual contracts on IntentX?

IntentX currently allows for trading on >180 pairs, you can find the full list in our docs on the ‘Pair List’ page.

How is margin trading handled in perpetual contracts on IntentX?

IntentX accounts utilize cross-margin, meaning that your portfolio (all assets and positions) is collateral. This means that your ENTIRE account is at risk for liquidation.

What are the fees for trading perpetual contracts on IntentX?

IntentX charges a 0.06% platform fee (0.03% open + 0.03% close) on all positions. Other ‘fees’ include funding rates and the spread(s) quoted by solvers.

How do liquidations work in perpetual contract trading on IntentX?

Liquidation occurs when your ‘Equity Balance’ drops below the required Maintenance Margin (CVA). Due to your account being cross-margin, all of the assets/positions in the account will be liquidated should this occur.

Can I use leverage in perpetual contract trading on IntentX?

Yes, we allow up to 60X leverage on trading pairs.

What risk management tools are available for perpetual trading on IntentX?

You can use the ‘Manage Account’ page in the UI to view all trading/account statistics and deposit/withdraw funds. Stop Loss and Take Profit will also be usable features in the future.

Platform Usage and Features

Please open a ticket on our discord and provide your: twitter account, wallet address, and name you want associated with the account. Entry into the referral program is at the discretion of the IntentX team.

How do referrals work?

Both referrers and referees get a 15% bonus on ‘Trade and Earn’ rewards. Please refer to the 'Referral Program' page for more details.

How do I trade using the mobile/PWA version of IntentX?

Follow the guide in your mobile browser, or on our ‘IntentX Mobile and Progressive Web App’ page, to set up our PWA on your Android or iOS phone.

How do I view my trade history?

Click on the ‘Order History’ tab in the trading UI.

How do I export my trade history?

Click the ‘Export CSV’ button in the ‘Order History’ tab in the trading UI.

Where can I see my trade statistics/manage my account?

You can manage and view all of your account statistics on the ‘Manage Account’ page.

Where do I see my referrals?

View the ‘Referrals’ page in the UI to find your referral statistics.

What networks are supported by IntentX?

IntentX is currently supported by the Base L2, with plans to move to many other chains in the future.

Is there a token associated with IntentX? When is the token generation event (TGE)?

There is currently no token associated with IntentX. However, points are being issued for a retroactive airdrop based on trading volume/consistency when the token goes live. The TGE is estimated to occur in late Q1/early Q2 2024.

Is IntentX audited?

Sherlock audits all backend contracts (SYMMIO). Quantstamp will audit all IntentX contracts.

Technical Questions and Support

What type of collateral is used for trading on IntentX?

The only collateral that can be utilized on IntentX is USDC. We recommend swapping for USDC using DeFi Llama’s Meta-DEX Aggregator, LlamaSwap.

How do I bridge to the chain I want to trade on with IntentX?

You can bridge your assets/USDC via any bridge you like to the Base network. We recommend the Stargate Bridge.

How do I create an isolated trade?

Because IntentX accounts are cross-margin, you must create multiple sub-accounts to have isolated trades.

What should I do if TradingView charts aren't loading?

Make sure that you turn your add-blocker off and refresh the page.

How do I view the profit and loss of my trades?

You can view your position uPNL and PNL on the ‘Positions’ and ‘Order History’ tabs respectively in the trading UI. You can view your cumulative PNL on the ‘Manage Account’ page.

What do terms like Maintenance Margin (CVA), and Equity Balance mean?

  • Maintenance Margin (CVA) - the overall margin required for your account to remain solvent
  • Equity Balance - the total account balance at any given moment, factoring in all of your open positions
  • Remaining Equity to Liquidation - how much equity balance you have remaining before your accounts balance is liquidated.
  • Allocated Balance - available funds to open orders with and their total allocated amounts
  • Locked Margin - the total margin engaged across all live positions, acting as a buffer to prevent excessive position openings
  • Available for Orders - the funds that are still accessible for placing new orders.
  • Estimated Liquidation Price - the estimated liquidation prices for their new and open positions

Where can I find support if I have issues or questions about trading?

You can find support in our documentation or by opening a ticket in our discord.

Liquidity, Positions, and Pricing

What does it mean when there is ‘No Liquidity Available’? When will more liquidity be added?

This means that all of the available open interest provided by the solver is being utilized in open trades. More liquidity will become available as trades are closed/liquidated, or if the solver adds more collateral to facilitate additional OI.

What is Open Interest (OI) in the context of IntentX?

OI is the notional value of all short- and long-open interest on the platform. You can view the current and total OI in the ‘Open Interest’ box within the trading UI.

How can I find the available liquidity for a trading pair?

Select the pair you would like to trade. Once loaded you can view the current and available liquidity for that pair in the ‘Avail. Liquidity’ box in the trading UI.

Why can't I close my position on IntentX if my uPNL is positive?

If your uPNL is positive but you cannot close, the slippage to close may likely cause a liquidation. To address this you can change your slippage in your advanced settings or close the position in smaller increments.

What are the platform fees on IntentX?

IntentX charges a flat 0.06% platform fee for all trades (0.03% open/close). Additional ‘fees’ may include funding rates and the solver spread.

How do I view the spread?

Use the ’Spread (bps)’ box in the trading UI to view the current solver spread.

Trade Management and Risk

Why was my trade request rejected?

Trades can be rejected by the solver at their discretion (I.e. the current price is now dramatically different from the streamed quote). If your request is rejected, please re-input the trade and try again.

How do I cancel a trade if it is stuck?

Click the ‘Close’ button on your position in the ‘Positions’ tab.

Are there Stop Loss and Take Profit options?

Stop loss and take profit options will be available in the future.

Can I cancel a pending withdrawal?

Not currently, but this will be available in the future.

Can I move collateral between sub-accounts?

Not currently, but this will be available in the future.

What does it mean when a position is pending?

The solver has not confirmed the trade yet, please either force close the order or wait for them to ‘Confirm’ or ‘Reject’ the trade.

Why is the liquidation price estimated?

The liquidation price for positions are estimated because they are based on the current margin in the account, which is dynamic as it is cross-margin. Please remember these are simply estimates and will change with the margin in your account.

What are funding rates?

Users with open positions will pay or receive funding fees depending on the underlying contract skew. You can view the current funding rate in the ‘Funding Rate’ box of the trading UI.

CVA and Withdrawals

What is Credit Valuation Adjustment (CVA) and how does it affect trading on IntentX?

CVA is the Maintenance Margin required for your account to remain solvent. Your Equity Balance MUST be higher than your CVA, or your entire account will be liquidated.

Why is the CVA higher with higher leverage?

Because IntentX does not house liquidity locally, nor have an insurance fund to offset losses, there can be no bad debt in the system in the event of a liquidation. Thus, higher leverage requires a higher CVA to ensure that all counterparties are made whole in the event of a liquidation.

Why is there a 12-hour withdrawal time?

There is a 12-hour withdrawal period to prevent fraudulent activities and double-spending. In the future, we hope to reduce the time to withdraw.