Manage your positions

Open Your hedges. Every open position is one live row: your locked rate against the live mark, unrealized P&L, and margin health. Open a row for the full picture. Settlement runs itself at the delivery date. Time: ~3 min.

1Open Your hedges

In the Your hedges blotter, every position you hold against CRX is one row, marked continuously against the live rate. Three numbers per row, all live:

• Locked rate vs live mark. The rate you bound at, against the market now. The gap is your move.
• Unrealized P&L. What the position is worth at the current mark.
• Margin health. Healthy, or a VM call open. A routine move raises no call; the collateral is already posted.

Margin health has its own column; open margin calls, if any, sit in the header KPIs.

Step 1: the hedges blotter: locked rate versus the live mark, unrealized P&L, and live margin health per hedge, with margin calls in the header.

2Open a position

Click a row. The full position opens: what you stand to get at the current mark, your locked rate versus today's, the protected amount, and the settle date with the days left. The same screen carries the margin block and the settlement terms further down.

Step 2: the position detail: live P&L, your locked rate versus today's rate, the protected amount, and when it settles.

3Read its margin health

Lower on the same position screen sits the margin block: your initial margin (the requirement), your account value against it, and the maintenance floor below which liquidation arms. A margin call fires only at a breach: when your account value falls to the initial-margin line. Variation margin settles your running P&L from collateral you already posted, so a routine move clears you rather than calls you. What follows a breach depends on your credit terms: liquidation at once, or a cure window to top up if your relationship carries one. See Margin & VM (~4 min) and Credit Model (~8 min).

4Let it settle

A hedge settles by itself, at the delivery date, in cash. The contract reads one reference price, moves the difference between your locked rate and that fixing in USDC, and returns your initial margin to your general balance. You do nothing. History records it as settled at the fixing.

Step 4: History records the settled hedge: settled in full at the fixing, the cash difference cleared in USDC, with nothing for you to do.

Most of the move has already reached you: variation margin clears the running P&L cycle by cycle, so settlement is the final true-up, not a surprise. Why the fixing is read once, on an EMA that no single tick can push: Settlement (~3 min).

Can I get out before maturity?

Not on your own, and not yet. A hedge runs to its settle date and clears itself there; as a taker you hold the position to maturity. A jointly-signed early close, where you and CRX agree a rate and unwind ahead of the date, is on the roadmap; there is no unilateral early exit today. Laying off inventory is a maker action, not a taker one. The mechanism, when it lands: Close Early (~3 min).

Next: Withdraw (~1 min). Move collateral and won profit back to your wallet.