For Traders - Vanna

What you can do

Goal	How
Borrow without selling	Deposit SOL, LSTs, stables or xStocks and borrow SOL, USDC or USDT (Borrow)
Leverage up to 10×	Use the leverage slider on Margin; borrow one asset or two at once with Dual Borrow
Swap with leverage	Swap inside the margin account on Jupiter or Titan (Spot)
Long or short	Phoenix perps on SOL, ETH, BTC, TSLA and META, up to 5× per order (Perps)
Leveraged yield	Supply to Kamino, or deposit into Perena or delta-neutral basis vaults (Farm)
Close everything	Flash repay closes positions and repays every loan in one guided flow (Repay)

Your numbers

Health factor: collateral ÷ debt. Liquidation at 1.10 or below. See Health Factor.
Leverage: everything the account holds (borrowed funds included, open perps at full size) ÷ your equity. 1.00x means no borrowing.
Collateral left before liquidation: how much value your collateral can lose before the account reaches 1.10.

Every page that can change your account shows a before → after preview of these numbers before you sign.

Leverage can get your account liquidated. Prices, borrow interest, swap slippage, perp funding and vault share prices all move your health factor, which must stay above 1.10. Only use what you can afford to lose.

How to start

Connect and fund from the Faucet.
Open a margin account and deposit collateral.
Borrow, then trade or farm.