Buy a Rate Swap

So you're ready to buy your first swap? Here is an easy, practical walkthrough: Step 1: Select a Market

Step 2: Choose a Notional Value

This is the total amount that will accrue interest (gain or loss), during the duration of your swap. For example $5,000,000 USDC

Step 3: Connect your Wallet

Using Coinbase Wallet, Metamask, Wallet Connect, or your favorite DeFi wallet. Connect to the swap market.

Step 4: Approve Collateral

You should only need to do this once, to approve your collateral for the swap market. Cick "Add Collalteral," on the order widget:

Then, click "Approve" and sign the approval transaction:

Wait for this transaction to complete.

Step 5: Add Your Collateral

Add the prefilled amount of collateral to execute your swap, by click "Add Collateral":

Wait for this transaction to complete

Step 6: Execute your Swap Trade

Finalize your Swap trade by clicking "Buy Swap" on the order widget:

Profit (with a little luck!)

You'll now see your open swap position on the market page below the order widget:

Next up, learn how to Manage Collateral and view your Portfolio

DISCLAIMER: Swaps are leveraged instruments. You can lose all of your collateral if positions move significantly against you. Always understand the risks before trading.