OPerps Interface Overview/Glossary
Last updated
Last updated
Asset & Cycle: Connect your wallet and select the asset, cycle timeframe, and options contract type (Call or Put) from the drop-down menu. The platform automatically selects the chain corresponding to the chosen contract.
Current Cycle: View the remaining time for the current cycle, current cycle's leverage, and Profit & Loss data of your connected wallet.
Next Cycle Data: Orders are managed at the end of each cycle during settlement. Consider Expected Leverage, Short & Long OPerps token distribution, and profit/loss limits as they influence trade results and are important for traders to review before trading.
Buy & Sell: Choose between Long or Short OPerps tabs to buy or sell the respective tokens.
Order History: Track your current cycle's trades by checking open orders and active trades in the positions tab. Use the Withdraw tab to see tokens redeemed back into USDC, while the Trades tab displays your connected wallet's trade history.
Previous Cycles: Review chart data illustrating the historical outcomes of recent cycles, including price changes, profit and loss details, leverage, cycle durations, and pool depth.
Other Key words:
Call and Put OPerps:
Call OPerps include Long Call OPerps and Short Call OPerps.
Put OPerps include Long Put OPerps and Short Put OPerps.
OPerps Types:
Long Call OPerps (LCO): Enables traders to profit in rising markets through leveraged trades.
Short Call OPerps (SCO): Enables passive traders to generate yield in neutral or falling markets.
Long Put OPerps (LPO): Enables traders to profit in falling markets through leveraged trades.
Short Put OPerps (SPO): Enables passive traders to generate yield in neutral or rising markets.
Key Metrics and Features:
Expected Leverage: Indicates the expected leverage in the next cycle. Note that this leverage will change based on new traders in the next cycle.
Expected Distribution: Indicates the ratio of Long OPerps traders to Short OPerps liquidity providers.
Previous Cycles Table: Traders and liquidity providers can review leverage, returns, and price changes of LCO/SCO and LPO/SPO in previous cycles.
Next Cycle Max Profit: Indicates the maximum profit a Long Call/Put trader can receive based on leverage and price movement.
Next Cycle Max Loss (Premium): Indicates the maximum loss a Long Call/Put trader can incur, which is limited to the fee that Short OPerps liquidity providers receive from Long OPerps traders.
Open Orders Tab: Displays transactions when a Long OPerps trader or liquidity provider first buys/sells, indicating it's yet to become an active trade. Once the next cycle starts, the trade/position will move to positions where profit and loss can be seen.
Positions Tab: An OPerps trader or liquidity provider can view their live trades, including the current balance and profit/loss.
Last Day APY: Indicates the yield received by liquidity providers as of yesterday, extrapolated for the year.
Last Week APY: Indicates the yield received by liquidity providers last week, extrapolated for the year.
TVL (Total Value Locked): Indicates the Short OPerps liquidity currently invested in the current cycle. This number divided by the number of Long OPerps traders is how leverage is calculated.
Minimum Lock-in: Indicates the minimum amount of time you need to keep your amount invested.