> For the complete documentation index, see [llms.txt](https://docs.jetbit.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.jetbit.com/trading.md). # Trading The trading screen is where you open and manage positions. This page walks through the layout and the mechanics behind it. ## The trade screen at a glance Across the top you see the market you are trading, its mark price, 24 hour volume, high and low, the current funding rate with a countdown to the next funding, and the maximum leverage for that market. The chart in the middle shows the JetBit Pool Index price, with the usual timeframes from one minute upward, candles, and indicators. On the right is the order panel, where you set up and place trades. On the left is the Pool Counterparty panel, which is unique to Jetbit and worth understanding. ## The pool is your counterparty Every position on Jetbit fills against one shared liquidity pool. There is no order book matching you against another trader. The pool takes the other side, so there is always a market. The Pool Counterparty panel shows the state of that pool in real time. Pool capacity tells you how much of the pool is in use and how much is free to trade against. Pool skew shows how the pool is currently positioned, long against short, across all traders. When you set up an order, the panel also shows whether your trade adds to the pool's skew or offsets it. You do not need to read this panel to trade, but it gives you a clear picture of how much room there is and which way the crowd is leaning. ## Placing an order Start by choosing Long or Short, then pick your order type. A Market order fills right away at the current price. A Limit order rests until the market reaches the price you set, then fills. Next, set your margin mode. Cross margin uses your whole balance as collateral for the position, which lowers the chance of liquidation but puts more of your balance at risk. Isolated margin walls off a set amount of collateral to that one position, so a liquidation only costs you what you assigned. Set your leverage with the slider. The panel shows your contract size, your position size, and the collateral required as you adjust. You can type a size or use the percentage buttons to commit a share of your balance. If you want to set exits in advance, turn on Take Profit and Stop Loss and enter your levels before you open. When everything looks right, place the order. The position opens and shows up under Positions at the bottom of the screen. ## Funding Because perpetual futures never expire, funding keeps their price close to the underlying market. Every four hours, funding settles between longs and shorts at the current rate. You can see the rate and the countdown to the next funding at the top of the trade screen and in the Markets table. On Jetbit, funding flows into the liquidity pool as part of the house edge. ## Closing and liquidation You can close a position at any time from the Positions tab, in full or in part, at the current price. If the market moves against you and your margin runs too low, the position is liquidated automatically to stop your loss from growing past your collateral. A liquidation carries a fee that goes to the pool. Isolated margin limits a liquidation to the collateral on that position, while cross margin can draw on your wider balance to keep a position alive longer. Setting a stop-loss is the simplest way to stay in control of where you exit. ## Keeping an eye on risk The status bar along the bottom of every screen shows your equity, unrealized profit and loss, margin used, and account health, next to network status, gas, block height, and oracle health. Health is the one to watch. As it falls toward liquidation, it is telling you the position needs more margin or a smaller size. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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