Take profit and stop loss are automatic triggers that close your position when the price reaches a level you choose. Take profit locks in a gain at your target. Stop loss limits your loss before it grows further.
You can set take profit and stop loss when you place your initial order, or you can add them afterward on an open position.
To add or update take profit and stop loss on a position already open, open the position, tap the pencil icon, and select Edit SL/TP.
Both take profit and stop loss are triggered by the mark price, not the chart price. The mark price combines the oracle price (a composite across major exchanges) with local trading activity on the protocol, so it may differ slightly from what you see on the chart. This means your take profit or stop loss may trigger at a moment when the chart appears to show a different price.
When your trigger hits, the order fills as a market order at the best available price. There is a built-in slippage tolerance of 10%, which means the order will fill at any price within 10% of your trigger level. In fast-moving markets, the fill price may be noticeably different from the trigger price, and in extreme moves the price can gap past your stop loss before it fills.
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