What is a stop order?
A stop order basically allows you to place a buy or sell order after the index price has touched a specific point, called a Stop Price or Trigger Price. When placing a stop order, you specify if you would like to buy/sell, and then provide an amount and a stop price. Once the index price touches your stop price, an order will automatically be placed to market buy/sell your order amount.
For stop orders placed with open positions, stop orders will automatically fully close your position, so you only need to provide a stop price.
What is the index price?
The index price is an aggregate price that uses multiple price oracles from different exchanges. Both liquidations and stop orders use this price to determine when your account needs to be liquidated or a stop order has been triggered. Using an index price like this protects you from unexpected execution in times of high volatility.
Where do I access stop orders on dYdX?
There are two ways to place a stop order. If you have open positions you would like to place a stop on, go to the Positions tab and hover over the column called Stop Price. This will reveal a button you can then click to add or edit the stop associated with your position.
You can also place stop orders in your main account by clicking the Trade tab in the sidebar and selecting the Stop order type.
How do I cancel a stop order on my position?
Open the modal to edit the stop on your position using the instructions above. Then click the Clear button. You will see the button text on the bottom right of the modal change to Remove Stop. Clicking the button and signing the cancel message will cancel the stop associated with that position.
Is there a minimum trade size for stop orders?
The minimum size for stop orders is the same as limit orders: 0.1 ETH for ETH-DAI, ETH-USDC or 20DAI for DAI-USDC.
Can I have multiple stop orders in the same market or position?
For open positions, your stop order will automatically fully close your position, so only one stop order is allowed per position. For trades placed on the " tab, there is no limit to the number of stop orders you can have for each market, as long as those orders can't potentially put your main account under the collateralization threshold.
Can I place stop orders on margin?
Yes - stop orders can be places on margin so long as you maintain a sufficient collateral ratio - 125%. If you have open stop orders and your collateral ratio falls below that threshold, orders will be cancelled based on distance to mid-market price (closest to mid market will be cancelled first). This is because orders further away from mid market impact your collateralization level less than orders closer to mid market.
What are the trading fees for limit orders? What about gas?
There are currently no fees on dYdX. Gas is covered by dYdX when using the ‘dYdX’ market for any trades given that dYdX is sending transactions on chain.
I get a "Something went wrong" error. What's wrong?
If you're using a MetaMask wallet, let us know in the Chat (in the Help dropdown).
If you're using some mobile wallet or using Trezor + MetaMask, please try enabling Compatibility Mode in the wallet dropdown (in the upper right).
If you're using a Ledger, please try connecting your wallet without MetaMask (by disconnecting your wallet in the Wallet dropdown, and then connecting as Ledger). Or you can continue to use it with MetaMask if you enable the Compatibility Mode option in the Wallet dropdown.