Skip to main content

​
Credits

Credits are the in-app currency used to open positions on Noise. You purchase credits during sign-up, and they serve as your collateral for trading.
Credits are non-refundable and non-redeemable. They do not represent USD or any fiat currency. Credits exist solely as an in-app unit for use on the Noise platform.

​
Positions

On Noise, you take directional positions on a trend’s relevance:
  • Long — you believe the trend’s relevance will increase
  • Short — you believe the trend’s relevance will decrease
Your PnL is calculated against the mark price. When you close a position, realized PnL is settled to your account.

​
Order Types

​
Market Orders

Execute immediately at the best available price on the order book. Any portion of a market order that is not filled immediately becomes a limit order resting on the order book.
Market orders are implemented as aggressive limit orders with a maximum slippage of 1.5%. If the full quantity cannot be filled right away, the unfilled remainder is placed on the order book as a limit order at the slippage-adjusted price.

​
Limit Orders

Execute only at your specified price or better. A limit buy fills at or below your price; a limit sell fills at or above. Limit orders rest on the order book until filled or cancelled.

​
Reduce-Only Orders

Close or reduce an existing position without opening a new one in the opposite direction. If you are long 100 contracts, a reduce-only sell for 100 will close your position but won’t open a short.

​
Leverage & Margin

Noise uses isolated margin — each position has its own dedicated margin, independent of your other positions. A liquidation on one position does not affect others.
Leverage is currently fixed at 1x for all markets.
Margin ratio is the ratio of margin used to your account equity. As unrealized losses grow, your margin ratio increases toward the liquidation threshold.

​
Funding

Funding is a continuous payment between longs and shorts that pushes the mark price toward the oracle price.
  • When the market trades above the oracle price, longs pay shorts
  • When the market trades below the oracle price, shorts pay longs
Funding is accrued per second rather than collected at discrete intervals. See How It Works for more detail on the funding rate mechanics.

​
Liquidation

Liquidation follows a staged process based on your margin ratio:
StageMargin RatioAction
Margin Call80–90%Warning issued. No forced action — you can add margin or reduce your position.
Preventative90–100%Partial position reduction is executed automatically to bring the ratio below threshold.
Liquidation≥ 100%Full position closure via market order.