Our development update communicates what we’re working on at Interdax and an indication of when these new features will become available.
In November, the major developments were:
Interdax Exited the Beta Stage
On November 6, Interdax officially left the beta stage, which coincided with the first anniversary of our mainnet launch.
Spot trading pairs for BTC-USDT and ETH-USDT were also launched. Read more about spot trading in our guide here.
Filecoin USDT Perpetual Released
Trade the FIL stablecoin perpetual with up to 100x leverage, taker fees of 0.05% and maker fees of 0%.
An overview of FIL can be found in our article ‘What is Filecoin?’
To display the breakdown of balances and the riskiness of positions more clearly in the interface, a margin widget was added on November 16, replacing the margin tab.
The margin wheel is entirely green when there are no open orders or positions. The available balance for the sub-account currently in use is displayed when you hover over it.
Once a limit order has been submitted for a coin perpetual (e.g., BTC-PERP), the orange section of the wheel will show the initial margin requirement. To display the amount of funds required for the initial margin, hover over the orange section:
Once an order has been executed, it then shows the margin maintenance requirement as a red portion of the wheel.
The percentage in the middle of the wheel will increase from 0% as soon as a position is opened, visualising the maintenance margin as a percentage of your balance.
The colour of the percentage inside the wheel shows the riskiness of your position(s).
If the maintenance margin requirement is:
- Below 10% of the sub-account’s balance, the percentage is shown as white,
- Above 10% and below 30% of the sub-account’s balance, the percentage is shown as orange,
- Above 30% of the sub-account’s balance, the percentage is shown as red. It also flashes once the percentage reaches 65% or higher to indicate a higher risk of liquidation:
For spot markets, there are two wheels.
If you’re trading the BTC-USDT spot pair, one wheel is for the BTC balance and the other is for the USDT balance. You can click on an individual wheel to zoom in on it.
When submitting a limit sell order to exchange BTC for USDT, the BTC wheel will show the funds placed on hold in blue. If the available balance falls below the amount represented by the section highlighted in blue, then the open order is cancelled.
If instead, you want to buy BTC with USDT, the amount of USDT placed on hold to ensure the order remains open is shown by the blue section for the USDT wheel:
Once a spot order is executed, both wheels turn green again, and the balances are updated.
If there is an open order to sell BTC at spot while there is also an open position in BTC-PERP for a single sub-account, the margin wheel will show both the funds placed on hold and the amount required to meet the maintenance margin, along with the available balance:
If the maintenance margin approaches the value of the available balance, the open order to sell BTC will be cancelled to avoid liquidation and prevent the available balance from falling below the maintenance margin requirement.
Along with the addition of the margin wheel, we’ve improved the balances tab, so it shows the USD estimate of the grand total balance across all assets and sub-accounts:
A scroll bar has also been added to the instruments list as well:
Upcoming in December
New Trading Instruments
New trading instruments are due to be released in December.
Improvements to Liquidity
We are actively working on improving and bringing more liquidity on board, in particular we are making continual improvements in this area with the help of several high-volume clients.
If you have any comments or questions, please contact us via one of the methods shown below.