Hi, welcome to OPNX. Here we will explain what our Repo market is and how you can trade with it on OPNX. To get started, let’s explain what it means to Buy and Sell Repo.
Buying Repo on OPNX can be conceptualized as lending USD in exchange for crypto.
Buying Repo automatically gets you to buy crypto from the counterparty in exchange for your dollars whilst simultaneously selling the same amount of crypto in perpetual futures.
Selling the same amount of crypto that you just bought allows you to lend your dollars whilst not having any exposure to the underlying cryptocurrency asset. In this example, we are lending our dollars by buying Ethereum and selling Ethereum Perps.
Selling Repo on OPNX can be conceptualized as borrowing USD in exchange for Crypto.
Selling repo automatically gets you to sell your crypto to a counterparty in exchange for their dollars whilst simultaneously buying the same amount of crypto in perpetual futures.
Selling the same amount of crypto that you then buy allows you to borrow dollars whilst maintaining the same exposure to the underlying cryptocurrency asset. In this example, we are borrowing dollars by selling our Ethereum and buying Ethereum perps instead.
How to place a limit buy order when trading Repo:
To place a limit order, select the market you want to trade from the drop-down menu on the left-hand side, enter the percentage price you want to receive, and input the number of dollars you want to lend. You will then see the total amount of crypto you will receive in exchange for your dollars.
Check that you’re happy with all of those details, and then press the ‘buy’ button at the bottom.
Next, learn "How to Sell Crypto on OPNX".