Spot trading on Abyss

Here is a guide to trading Spot on the Abyss protocol.

Let's dive in

When using Abyss for the first time you will be asked to create a new Balance Manager i.e. a Spot Trading Account.

It is the place where you will be depositing and withdrawing funds into in order to place orders. To trade, simply click on deposit and choose directly from your wallet what you wish to trade. After depositing your Spot Account will refresh with the amount of tokens you've just added and the net USD value for that account.

If you want, you can add additional Spot Accounts which are completely isolated from one another or even import others you may have used in the past in the DeepBook ecosystem. To access this, simply click the little settings icon to the right of "Spot Account Overview"

On the right of the spot trading page you will find everything you need to place market and limit orders on Abyss. Simply select Buy or Sell depending on the direction you wish to trade and market or limit. You can choose to pay DeepBook's fees with DEEP and save 25% on the amount of fees you pay.

To place a limit order simply choose the price at which you want to buy or sell and the amount.

When placing a limit buy order if the price you set is above the current market price your order will execute immediately as a taker order (i.e. will not rest on the book). Equivalently if you place a limit sell order under the current mark price the order will execute immediately. In both cases they execute at the best bid / best ask regardless of the price you set.

Once your limit order is placed it will rest on the book and appear in the open orders section of the trading page shown below. You can modify that order by reducing the amount in the order or cancel the order entirely. You can also cancel all the open orders at once.

In the trade history section you will see a history of all the taker trades that have executed. This includes market orders and filled limit orders. Basically anytime you remove liquidity from the book it will show up here.

The order history section shows you a historical view of the limit orders you've placed and if they have been cancelled or filled.