Any trade made within the United States will have a maximum borrow period of 28 days.

At expiration, the position will be automatically closed out. Collateral in the position will be used to buy back the amount of owed currency to repay the borrow (plus interest). The leftover collateral is withdrawable by the trader by clicking the withdraw button on a closed position.

For example, in the case of a Short ETH position, DAI collateral is used to buy back ETH and remaining DAI is withdrawable by the trader. In the case of a Leveraged ETH position, ETH collateral is used to buy back DAI and remaining ETH is withdrawable.

This trade has a fee that increases from 0% to 5% over an hour and may be executed by any other account running our open-source liquidator bot. The bot run by the dYdX team will attempt to execute the expiration after the spread has passed 1%.

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