A winning close returns your collateral and settles your profit after fees. A losing close deducts the loss from your collateral and returns the rest.
A winning position
Section titled “A winning position”When the treasury covers your payout, net profit is available as cash at settlement. Your remaining cash margin returns to your balance.
Is the payout fully funded?
Profit is available as cash.
Cash pays first; only the rest queues.
A profitable close settles through the close curve, before fees: at launch just under 95% of a large move, and less of a small one. A take-profit or stop-loss is a close and uses the same curve. Governance can change the curve for future positions; each position keeps the terms set when it filled.
A losing position
Section titled “A losing position”The loss comes out of the position’s margin. Your remaining cash margin returns to your balance. Liquidation uses all active margin, including added margin that has activated.
Every settled position earns MOG on its trading edge. A losing close earns MOG only on its open fee.
Each position keeps the close curve it filled with.