Skip to main content

Documentation Index

Fetch the complete documentation index at: https://docs.parquet.exchange/llms.txt

Use this file to discover all available pages before exploring further.

This walkthrough takes you from a connected wallet to a closed position. Make sure your wallet holds a small amount of SOL for transaction fees and at least $10 of USDC for collateral.
Trading hours. Parquet only quotes prices during US Regular Trading Hours: Mon–Fri 09:30–16:00 ET, minus US market holidays. Outside RTH the oracle is stale and every trade instruction reverts. If you try to open a position over the weekend, the app shows a MarketClosedBanner and blocks signing.
Deployment status. Parquet is live on devnet today; mainnet has not launched yet. The flow below is identical on both clusters — only the funding source changes (devnet mock USDC faucet vs. real USDC).
New to wallets? Start with wallet setup first. New to perpetual swaps? Read introduction.
1

Connect your wallet

Open https://parquet.exchange/trade and click Connect. Pick the wallet you funded with USDC. The header should show your address truncated and your USDC balance.
2

Pick a market

The SideNav lists every active market. For your first trade, choose AAPL (Apple) or SPY (S&P 500 ETF) — both are typically the most liquid markets during US RTH. The chart, order book, and TradeBox switch to the selected symbol.
3

Configure the trade

In the TradeBox:
  • Select Long (you profit if mark price rises) or Short (you profit if it falls).
  • Drag the leverage slider. The maximum is 250×. Start low — 2× or 3× — while you are learning; at 250× a fresh position liquidates on a ~0.2% adverse price move.
  • Enter collateral in USDC. The protocol minimum is $10 per position; the TradeBox blocks smaller amounts.
  • Set slippage tolerance (in basis points). The default is sized for normal market volatility.
The TradeBox shows your notional size, estimated entry price, and estimated liquidation price as you adjust.
4

Review the fee

Hover the fee row. The opening fee is 0.1% of notional. If your trade reduces the market’s open-interest imbalance (for example: longs are dominant and you are opening a short — or vice versa), the rate drops to 0.05%. The tooltip tells you which rate you will pay.
5

Open the position

Click Open. Your wallet pops up to sign the transaction. Once it confirms, the TradeBox clears and a toast confirms the fill.
If the signature fails with a slippage error, the mark price moved beyond your tolerance. Raise slippage or wait for calmer pricing. If it fails with PriceStale, the session has ended — try again at the next open.
6

Watch your position

Switch to the Positions tab. Your new row shows entry price, current mark, unrealized PnL, ROI, and liquidation price. The liq price is the level at which your equity hits the maintenance-margin threshold of 20 bps. See liquidations for the math, and margin management if you want to add or remove collateral to move that line.Positions stay open across nights, weekends, and holidays — but you cannot close, adjust margin, or be liquidated until the next session. Funding and borrow fees accrue continuously.
7

Close out

Click Close in the position row to open the PositionDetail panel. Confirm full close (or partial, by entering a smaller size) and sign. Realized PnL settles to your wallet in the same transaction whenever the pool’s vault holds enough free reserve to pay you.If a profit close cannot settle in-line — because vault reserves are temporarily drawn down — the close still goes through and your payout is enqueued. The Positions tab shows a Queued row and a ticket number. See payout queue for how the FIFO queue drains.
Once you have closed a position cleanly, try a short, try partial closes, and try adjusting margin mid-trade. Read risks before scaling up.