FAQ
My leverage position seem to be missing.
If your leveraged position seems to be missing, please check the following:
a. Confirm you are connected to the correct wallet address that holds your position.
b. Make sure you are on the correct network and chain that your position was created on.
c. Check the "Positions" section in your account dashboard to see if the position is listed there.
d. If your position was recently closed, it may have been liquidated or you may have closed it yourself. Check your transaction history on your wallet address.
If you still cannot locate your position, please contact our support team with relevant details to assist you further.
My position got automatically closed. What happened?
If your position got automatically closed, it may have been due to one of the following reasons:
a. Liquidation: If your position's margin falls below the maintenance margin level, it will be liquidated to protect the platform and other users from potential losses.
b. Auto-deleveraging: In certain cases, when the platform's liquidity is under stress, our risk management system may close positions automatically to maintain a healthy ecosystem.
c. Take-profit: You might have set a take profit % where your position gets automatically closed taking home your profit. Or as the platform manages its risk and offers users up to 900% profit rate, your position might have exceeded the limit.
What is the minimum and maximum position I can take?
The minimum and maximum position you can take depends on the specific trading pair and the available liquidity on our platform. Each trading pair may have different minimum and maximum position limits. These limits can change dynamically based on market conditions.
What is the spread in Gambit and how is it determined?
In Gambit, we use an oracle to retrieve external prices. The spread reflects the assessed riskiness of the asset based on the market's liquidity and trading volume. This adjustment results in the final transaction price. For instance, the average spread for Bitcoin is 0.04%. However, the spread increases with higher price volatility and decreases with lower volatility. Gambit uses the reliability provided by the Pyth network to reflect market volatility in the spread in real-time. (Please refer to the link for more information.)
What is slippage in market price trades?
When a market price trade is requested in Gambit, the current price of the trade target asset is retrieved from an Oracle outside the blockchain. There can be a time difference between when the user requests the market price trade and when the Oracle provides the price. The slippage determines what percentage of this price difference is acceptable. The default is 1%, and if the price difference is within 1%, the trade proceeds; if it exceeds this, the trade is cancelled.
I can't open a trade with 10 USDT.
The minimum position size is 1,500 USDT. Please open a trade so that the 'Investment Amount x Leverage' value is 1,500 USDT or more. For example, to use a position size of 10 USDC, you must use leverage of 150x (150x10=1,500). You can use a higher investment amount with lower leverage. If you use a position size of 300 USDC, it is possible from 5x leverage (300x5=1,500).
What is Slippage?
Slippage refers to the price movement acceptable when opening a position. For example, if the price moves more than 1% while waiting for the blockchain to return asset prices, you may not be satisfied with that trade. You can set the slippage to open within the desired price range, and if the price deviates from this range, the trade does not open.
What is a Stop Loss?
A stop loss is when you liquidate a position at a specified price when losses occur, minimizing losses. It is a safety feature to prevent too much loss from the investment amount. It can be set as a percentage of the investment amount, and you can enter the asset price at which liquidation will occur. If set to 'NONE', it waits until a loss of 90% of the investment amount occurs, and if a greater loss occurs, it liquidates the position.
What is a Take Profit?
Take profit is when you liquidate a position at a specified price when the price moves in the profit-expected direction. It can be set as a percentage of the investment amount, and you can enter the asset price at which profits will be realized. The maximum profit that can be set is 900%, and the position is liquidated when the target price is reached. (TODO: Under what circumstances is the 900% setting not possible?)
What happens to the investment amount when a position is closed?
At the time of position closure, all profits and losses are immediately settled. If the trade ends with a profit, the profit is paid to your wallet. If the trade ends with a loss, the remaining portion of the investment amount is paid to your wallet, and the loss portion is moved to the vault.
What is an active position?
You can check the positions that are currently open.
What is a valid order?
A valid order allows you to check the processing status of your trade request. For market price trades, there is a certain delay before the request is reflected in the blockchain. Normally, the request disappears within seconds after it is processed. However, if the request persists for a long time, you can 'cancel' it. In the case of a Limit Order, it waits until the asset price matches the trade request. You can 'cancel' before the position opens.
What is a rollover fee?
This is a fee charged for maintaining a position without liquidating it. This allows traders to maintain proper risk management while using low leverage. Without this fee, the maximum possible outstanding contract for a pair can be maintained for a long period (for example, for several years in a low-leverage stock pair).
The 'Maximum Tradable Reach of Pair' button changes and I can't trade.
You can only make up to 3 trades per pair. Check the 'Valid Position' to see if you have 3 open trades for the selected pair (e.g., BTC/USD).
How do you get the price of a coin/asset?
Gambit uses the credibility provided by the Pyth network to reflect market volatility in real time on the spread. (For more information, please refer to the link.)
I opened a Limit Order position, but it does not appear in the valid position.
The position waits for a few seconds to be recorded on the blockchain. You can check the processing status in the Valid Order tab.
The position is automatically canceled after opening.
The order may be cancelled if the price changes at the time of order entry, exceeding the set slippage. Also, if the stop loss price of the open trade does not significantly differ from the position price, the price may change and the order may no longer be valid and may be immediately cancelled.
Valid order cancellation does not work.
The position is being recorded in the blockchain and the request will soon disappear from the valid orders. You can check the disappeared orders in the valid positions or trade history.
When opening a position, it says to approve the spending limit.
'Spending limit approval' allows permission for the user's assets to be transferred on behalf of the user's account. Before opening a position, the spending limit approval must first be processed. When you request a spending limit approval, Metamask's spending limit approval screen appears. Enter the investment amount (or maximum) of the position you want to open and approve it, then you can open the position.
I get an error saying 'Not enough time has passed since the open order or TP/SL update transaction. Please try again later.'
This can occur when you cancel slippage/update or a limit order. This happens because not much time has passed since the position change was reflected in the contract. You can make a change request after one block.
The profit when closing the position from the valid position is different from the trade history.
There is a slight delay in processing the request to close the position in the blockchain. The price may change during that time.
The price has reached the position's profit realization price / stop loss price, but it has not been executed.
There is a slight delay from executing the order to the blockchain's response. The price may have briefly exceeded the executable range, but by the time of the blockchain response, the position execution may have returned to the non-executable price range.
The stop loss price and profit realization price set when opening the position are different from the % in the valid position.
The price you set goes in as ordered, but the percentage figure can change as the price changes.
Can I go into debt?
You cannot go into debt. You can only lose the investment amount you staked. If your position reaches a position that needs to be liquidated (-90%), your maximum loss is your total investment. Otherwise, your profits or losses will be returned to you. You can liquidate your position at the position you want using the 'Stop Loss Price' and 'Profit Realization Price'.
Can I use stable coins other than USDC?
Currently, only USDC can be used at this time.
When are fees charged?
Fees are charged when you open and close a position. There are also rental costs and renewal costs. For more information about fees, please refer to the document.
How are the P&L and ROI(%) in the valid position calculated?
P&L shows the final trading profit and loss, including the closing fee. P&L and ROI are displayed based on the investment amount registered in the position. For example, for a position opened with an investment amount of 100 USDC and leverage of 10, if the total P&L is +5 USDC, the ROI based on the investment amount is 5%. If the total P&L is -5 USDC, the ROI is displayed as -5%.
How are the trading P&L and final P&L in the trade history calculated?
Trading P&L represents the pure P&L incurred by the trade, excluding opening/closing fees based on the investment amount. The final P&L is the P&L including the closing fee from the trading P&L. So the final P&L excluding fees is displayed lower. The P&L exposed in the valid position before closing the trade is the P&L including the closing fee, which is the same value as the final P&L in the trade history.
How can I know if Gambit is safe?
Gambit places user safety at the forefront of its priorities. To uphold this commitment, Gambit has been rigorously audited by the renowned security firm Secure3 to ensure the highest standards of protection.
However, it is important to acknowledge that, as a decentralized protocol, Gambit might still be susceptible to emerging security threats that have not yet been identified. Users should be fully aware of and willing to accept the inherent risks associated with engaging in transactions on the platform.
Where can I get help if I have a question or error?
Telegram and Discord channels are active. If you post a question, a Gambit member will help you.
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