- Visit lever.network and click “BSC App”
2. Connect Wallet
Once the page opens, you will need to connect a wallet, please click “Connect A Wallet” at the top right corner.
Since you are trading on Binance Smart Chain, you should switch your MetaMask to BSC, you can check this guide here: “Setting Up MetaMask Binance Smart Chain (BSC)”
We currently support Binance Chain Wallet and browser wallets such as MetaMask, Trustwallet, Eldoo, etc.
3. Deposit Asset
You can start trading only after you deposit assets.
Click “Deposit” and sign the transaction from your wallet.
4. Open Position
Once deposit your assets, you can then head to the “Markets” and Click “Open Position”.
5. Place Your Order
On the Open Position page, you can choose to either long or short BNB by borrowing USDT to buy BNB (Long), or borrowing BNB to buy USDT (Short).
6. Dashboard & PnL
When you have a position, you can check your Profit & Loss, aka PnL on the Dashboard along with other important information by clicking the Dashboard located on the top.
The dashboard will also show you the assets you currently deposited, your debt, and your position’s liquidation price.
7. Closing Position
When closing your position, you can either click the “Close Position” from the Dashboard or go to the market page, select the corresponding asset and click “Close Position” from there, they all lead you to the same place.
Risk Rate
In simple terms, Risk Rate tells you “the safety of your deposited assets against the borrowed assets and their underlying value”. Thus, the higher the risk rate, the safer your deposited assets are. When the risk rate reaches 100%, your position will be liquidated.
Your position's risk rate is displayed when opening a position:
Please note that the Risk Rate is infinite because I don’t have any position and the New Risk Rate is calculated based on the 5x leverage. Once you open your position, you will see a number for your Risk Rate.
You can find a comprehensive guide regarding Risk Rate here.
Limit Order
A limit order is a type of order to purchase or sell a security at a specified price or better. For buy limit orders, the order will be executed only at the limit price or a lower one, while for sell limit orders, the order will be executed only at the limit price or a higher one. This stipulation allows traders to better control the prices they trade.
Stop-Limit Order
A stop order is filled at the market price after the stop price has been hit, regardless of whether the price changes to an unfavorable position. This can lead to trades being completed at less than desirable prices should the market adjust quickly. By combining it with the features of a limit order, trading is halted once the pricing becomes unfavorable, based on the investor’s limit. Thus, in a stop-limit order, after the stop price is triggered, the limit order takes effect to ensure that the order is not completed unless the price is at or better than the limit price the investor has specified.
You can find both Limit Order and Stop-Limit Order at the bottom of the “Open Position” Page.
That’s about it, if you have any more questions, please feel free to ask us in our Telegram Group
