# Buy a Rate Swap

So you're ready to buy your first swap? Here is an easy, practical walkthrough:

### Degen Mode

**Step 1: Choose a Direction**

Will interest rates go up or down?

<figure><img src="/files/lcsCNxr1341CDd5FFpY8" alt="" width="375"><figcaption></figcaption></figure>

**Step 2: How much to wager?**

Slide the widget up to the amount you want to bet on rate movement

<figure><img src="/files/DtrJqtr9K0scP55gRK5q" alt="" width="375"><figcaption></figcaption></figure>

**Step 3: Finalize your Prediction**

Lastly, you'll need to click `[Approve]` to enable trading, `[Post Collateral]` to fund your Prediction, and `[Place Prediction]` to finalize your bet

**Step 4: Profit**

If rates move in your favor, collect that sweet sweet yield

<figure><img src="/files/SG7gSA87MbYsJbn19AJf" alt="" width="375"><figcaption></figcaption></figure>

### Pro Mode

**Toggle on Pro Mode:**

<figure><img src="/files/WYE19WXTalfkmAbPDKPe" alt="" width="375"><figcaption></figcaption></figure>

**Step 1: Select a Market**

<figure><img src="/files/aJ53ZgIIS77O9WzWkQFm" alt=""><figcaption></figcaption></figure>

**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

<figure><img src="/files/Kv2Zy8akWa2PxX6zYMq9" alt="" width="155"><figcaption></figcaption></figure>

**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:

<figure><img src="/files/paoCQ9mUgPMawCXbLBHu" alt="" width="156"><figcaption></figcaption></figure>

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

<figure><img src="/files/McfttHCNagWeEUB6vBlk" alt=""><figcaption></figcaption></figure>

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":

<figure><img src="/files/ybUPO38aF7pCsWBoUDDF" alt=""><figcaption></figcaption></figure>

Wait for this transaction to complete

**Step 6: Execute your Swap Trade**

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

<figure><img src="/files/oWLuLem4ALhXAYSmE506" alt=""><figcaption></figcaption></figure>

**Profit (with a little luck!)**

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

<figure><img src="/files/X2o3qi9iYzLctMqOd7ey" alt=""><figcaption></figcaption></figure>

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.*


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