Trading

ZEUS Exchange is a decentralized spot and perpetual exchange that supports low swap fees and low price impact trades.

Trading is supported by unique multi-asset pools that earns liquidity providers fees from market making, swap fees and leverage trading.

Adding a Wallet​

If you do not have a wallet yet, you can use Rabby or Metamask.

Connecting your Wallet​

After you have a wallet, you can connect your wallet by pressing the "Connect Wallet" button on the Trade page.

If you see the message: "Your wallet is not connected to Base", click on "Add Base" to your wallet.

RPC URLs

Since ZEUS is a decentralized exchange, querying of data and submitting of transactions is done through an RPC URL.

There may be times when the RPC URL is not as responsive as it should be, during these times you may notice data being slow to load or not loading on your page. It is also possible to hit the rate limit with the public Base RPC URL (https://sepolia.base.org).

To continue using the exchange during these times you can use a backup URL or switch the RPC URL in the network settings of your wallet and the page should load faster after.

A list of RPC URLs and their statuses can be found on Chainlist.

Sending Tokens​

While we are in the test network we need to specify faucets to request test ETН tokens.

Here is the list of faucets:

- https://docs.base.org/chain/network-faucets

- https://www.ethereum-ecosystem.com/faucets/base-sepolia​

Swaps

ZEUS supports both swaps and leverage trading. For swaps, click on the "Swap" tab on the Trade page, this will open the interface to swap tokens.

For leverage trading, please see the below sections for more information.

Opening a Position​

Click on "Long" or "Short" on the Trade page depending on which side you would like to open a leverage position on.

Long position:

• Earns a profit if the token's price goes up

• Makes a loss if the token's price goes down

Short position:

• Earns a profit if the token's price goes down

• Makes a loss if the token's price goes up

After selecting your side, key in the amount you want to pay and the leverage you want to use.

Below the swap box you would see the "Exit Price", which is the price that is used to calculate profits if you open and then immediately close a position. The exit price will change with the price of the token you are longing or shorting.

The trading fee to open a position is 0.1% of the position size, similarly there is a 0.1% fee when closing the position.

There is also a "Borrow Fee" that is deducted at the start of every hour. This is the fee paid to the counter-party of your trade. The fee per hour will vary based on utilization, it is calculated as (assets borrowed) / (total assets in pool) * 0.01%. The "Borrow Fee" for longing or shorting is shown below the swap box.

While there are no price impacts for trades, there can be slippage due to price movements between when your trade transaction is submitted and when it is confirmed on the blockchain. Slippage is the difference between the expected price of the trade and the execution price, this can be customized in the "Settings" menu by clicking on the "..." icon at the top right of the page.

Managing Positions​

After opening a trade, you would be able to view it under your Positions list, you can also click on "Edit" to deposit or withdraw collateral, this allows you to manage your leverage and liquidation price.

When you open a position or deposit collateral, a snapshot of the USD price of your collateral is taken, so e.g. if your collateral is 0.1 ETH and the price of ETH is 5000 USD at the time, then your collateral is 500 USD and will not change even if the price of ETH changes.

The amount of profit and loss you make will be proportional to your position size. For example, if you open a long ETH position of size 10,000 USD and if the price of ETH increases by 10%, the position would have a profit of 1000 USD, if the price of ETH decreases by 10%, the position would have a loss of 1000 USD.

If a short position was opened instead, then if the price of ETH decreased by 10% the position would have a profit of 1000 USD, if the price of ETH increased by 10%, the position would have a loss of 1000 USD.

Leverage for a position is displayed as (position size) / (position collateral). If you'd like to display the leverage as (position size + PnL) / (position collateral) instead, you can customize this in the "Settings" menu by clicking on the "..." icon at the top right of the page.

Note that when depositing collateral into a long position, there is a 0.3% deposit fee for the conversion of the asset to its USD value, e.g. ETH amount to USD value. This is to prevent deposits from being used as a zero fee swap. This does not apply to shorts. This fee also does not apply when withdrawing collateral for longs or shorts.

Closing a Position

You can close a position partially or completely by clicking on the "Close" button in the position line.

For long positions, the profit is paid in the asset that you need, for example, if you sell ETH, you will receive your profit in ETH.

For short positions, profits will be paid in the same stable currency that you used to open a position, for example, USDC or USDT.

You can set up a token to receive by changing the "Receive" option in the "Close Position" menu. Please note that in this case, your profit token can be exchanged for the token of your choice, if necessary, the exchange fee will be indicated in the "Close position" menu.

Stop-Loss / Take-Profit Orders

The functionality with limit orders is currently under development and will be integrated into the exchange in the future.

Liquidations​

If an ETH long position is opened and the position size is larger than the collateral value, then there would be a price at which the position's loss amount is very close to the collateral value.

This is referred to as the Liquidation Price and is calculated as the price at which the (collateral - losses - borrow fee) is less than 1% of your position's size. If the token's price crosses this point then the position will be automatically closed.

Due to the borrow fee your liquidation price will change over time, especially if you use a leverage that is more than 10x and have the position open for more than a few days, so it is important to monitor your liquidation price.

Collateral can be deposited using the "Edit" button in the position row, this will help to improve the liquidation price and reduce the risk of liquidation.

When a position is liquidated, any collateral remaining after deducting losses and fees would be returned to your account

Pricing​

There is no price impact for trades on Zeus Exchange, so you can execute large trades exactly at the mark price. During times of high volatility there may be a spread from the Chainlink price to the median price of reference exchanges.

The mark prices are displayed next to the market name, long positions will be opened at the higher price and closed at the lower price while short positions will be opened at the lower price and closed at the higher price.

The chart will indicate the average of the two mark prices.

Fees

The cost of opening/closing a position is 0.1% of the position size.

The collateral for long positions is the token for which the sale is carried out, for long ETH positions the collateral is WETH, for long BTC positions the collateral is WBTC and for long positions ETH, the collateral is ETH.

Short positions are secured by any of the supported stable coins, for example, USDC, USDT.

If a swap is required when opening or closing a position, then the usual swap fee is applied, which ranges from 0.2% to 0.8% of the collateral amount, the exact commission depends on whether the swap improves the balance or reduces it.

The network fee, which is used to pay for the costs of the blockchain network, is also described in detail below.

Network Fee​

There are two transactions involved in opening / closing / editing a position:

• User sends the first transaction to request open / close / deposit collateral / withdraw collateral

• Keepers observe the blockchain for these requests then execute them

The cost of the second transaction is displayed in the interface as the "Network Fee". This network cost is paid to the blockchain network.