> ## Documentation Index
> Fetch the complete documentation index at: https://docs.kimia.live/llms.txt
> Use this file to discover all available pages before exploring further.

# Making Your First Trade

> Open, monitor, and close a SOL-PERP position from the Kimia app.

This is the trader's walkthrough. If you want the code-level view, see
[trade a perpetual](/guides/trade-perpetual).

## 1. Connect your wallet

Open the [Kimia app](https://kimia.live), click **Connect Wallet**, and pick
your wallet. Approve the connection. The cluster dropdown should read **devnet**.

## 2. Deposit collateral

Your perp positions draw from a **UserAccount**, a PDA that holds your USDC
collateral. The first time you trade, the app creates this account for you and
prompts a deposit in the same transaction.

* Minimum deposit: **\$10 USDC** (prevents rent-rounding issues)
* Max leverage: **10×** (initial margin ratio 10%)
* Maintenance margin: **5%** (liquidation trigger)

<Tip>
  Deposits are instant and non-custodial. Your USDC sits in a market-scoped vault
  authored by the `kimia-perp` program; only your wallet (or your chosen
  delegate) can withdraw it.
</Tip>

## 3. Pick a direction and size

The trade panel exposes four fields:

| Field            | What it means                                               |
| ---------------- | ----------------------------------------------------------- |
| **Side**         | Long (profits if SOL rises) or Short (profits if SOL falls) |
| **Size**         | Notional SOL to trade, in 9-decimal precision               |
| **Order type**   | Market (fills immediately) or Limit (rests on the book)     |
| **Max slippage** | Taker-only; reverts the tx if fills exceed your tolerance   |

Your required margin is shown live: `size × price × initialMarginRatio`. Free
collateral shrinks as resting orders reserve margin upfront.

## 4. Submit the order

Market orders consume up to four resting counterparties per tx. If not all of
your order fills, the remainder is either:

* Cancelled (if you set **Post-Only = false** and **Market = true**), or
* Rested on the book at your limit price (otherwise)

## 5. Monitor the position

The **Positions** table shows:

* **Entry price**, weighted average across all your fills
* **Mark price**, the clamped-to-oracle price used for PnL and margin
* **Unrealized PnL**, live
* **Liquidation price**, derived from your collateral + position size

Liquidation price moves when:

* You deposit / withdraw collateral
* Funding settles (moves your collateral silently)
* You increase or decrease the position

## 6. Close the position

Click **Close**, or place a market order in the opposite direction of equal
size. Realized PnL flows back into your `UserAccount.collateral`, then you can
withdraw it to your wallet whenever you want.

<Warning>
  Withdrawals must leave enough collateral to satisfy **initial** margin, not
  just maintenance. This prevents opening a position and instantly pulling out
  collateral that the margin check was relying on.
</Warning>

## Common errors and what they mean

| Toast                        | Cause                                                            | Fix                                                            |
| ---------------------------- | ---------------------------------------------------------------- | -------------------------------------------------------------- |
| `StaleOracle`                | Oracle update wasn't posted or is > 60 s old                     | Refresh, retry; a new oracle update is prepended automatically |
| `InsufficientFreeCollateral` | Resting orders or the new position would exceed your free margin | Cancel open orders or deposit more USDC                        |
| `SlippageExceeded`           | Market order moved too far before filling                        | Raise `max_slippage_bps` or reduce size                        |
| `OrderbookFull`              | 32/32 asks or bids, rare                                         | Wait for cancellations or fill takers                          |

See the full list on the [troubleshooting guide](/getting-started/troubleshooting).