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A long says: I want more stock than my USDC can buy at 1×.

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Example

You deposit 10 USDC at 2×.
  1. Margin receives 10 USDC.
  2. Vanna borrows another 10 USDC against it.
  3. Jupiter swaps 20 USDC into TSLAx.
  4. Vault holds ~0.05 TSLAx (at ~$378). Debt is 10 USDC plus interest.
If TSLAx rises, collateral USD rises and health improves. If it falls, health falls. Liquidation price is shown on the row.
Long TSLAx ticket with 10 USDC collateral and 2x leverage

Long ticket. Collateral in USDC, leverage 2×, estimated fill, health 2.69. Click the image to zoom.

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Steps

  1. Open Perps and pick the pair.
  2. Select Long.
  3. Enter USDC collateral and leverage.
  4. Read position size, health, and liquidation price.
  5. Confirm one signature.
  6. Find the row under Current Positions. Close from that row.
You pay USDC borrow APR, not a funding rate. Time is not free.