dYdX is focused on building the best product for crypto traders today and in the future. Due to popular demand, we have now added Reduce-Only orders as well as increased max position sizes!
Reduce-Only is available on all order types, as long as the order is either Fill-Or-Kill (FOK) or Immediate-Or-Cancel (IOC). Reduce-Only ensures that your order:
Will only reduce the size of your current position, not increase
Will not open a position with side opposite to your current position (long to short or short to long)
To learn more about Reduce-Only orders, check out our help document on Reduce-Only orders!
Furthermore, traders can now take advantage of higher maximum position sizes. Traders can now hold up to $10M in BTC, ETH, and SOL. To see max position sizes across different markets, see our help document on maximum position sizes.
dYdX is the developer of a leading decentralized exchange on a mission to build open, secure, and powerful financial products. dYdX runs on audited smart contracts on Ethereum, which eliminates the need to trust a central exchange while trading. We combine the security and transparency of a decentralized exchange, with the speed and usability of a centralized exchange.