KNOW WHAT YOU’RE TESTING
A paired trade reduces one kind of exposure.
It still needs attention.
The simulation gives you space to learn how funding, costs and changing conditions affect a position. For each risk, see what to watch, what remains, and the specific checks, estimates or automated responses in the simulation beta. Separately labelled notes explain the additional live-trading controls planned for the App Store release; these are not part of the simulation beta.
A gain on one exchange does not automatically move collateral to the other. And collecting funding is only one part of a trade’s total result.
Yesterday’s attractive difference becomes smaller. Your break-even moves further away; if net funding turns negative, holding the pair costs money.
Compare the entry spread with the current average, the accrued result and the daily assessment. Look for a shrinking or reversing funding difference.
The entry rate is not fixed income. A closing rule reacts to observed conditions; it cannot guarantee a profitable exit.
The simulation follows changing funding conditions and can close a paper position when they deteriorate. This automates part of the monitoring and response; you can also close manually.
Opening and closing both sides means multiple trades. Fees, transfers and worse-than-expected fill prices can consume the funding collected.
Compare estimated daily funding with the full entry, exit and transfer bill. Check how long the trade would need to run before covering those costs.
A quote is an estimate. Your actual fee tier, trade size and available liquidity affect live costs. Repeatedly switching routes can mean repeatedly paying to enter and exit.
The app calculates estimated round-trip trading and transfer costs, shows break-even and deducts those estimated costs from the paper result at entry. This makes the cost hurdle visible before you judge a trade’s performance.
One order fills while the other fills partly, fills at a worse price, or fails. Until the exposure is matched, price direction matters again.
Check liquidity warnings and estimated capacity alongside the headline rate. Consider whether both sides could be entered and closed at the intended size.
A depth estimate is not a reserved fill. Prices on separate exchanges can also diverge, leaving a gain or loss even after both sides are opened.
The board surfaces thin-book warnings and capacity estimates, and keeps the paired venues visible together. These help you spot execution constraints before choosing a route. They support selection; the current paper beta does not execute or repair real orders.
The planned App Store release will coordinate both sides of the trade, check the resulting exposure and handle supported execution issues. Unresolved situations will be flagged for attention. These live execution controls are not part of the simulation beta.
Follow the execution sequence →A sharp move creates a loss on one leg. That exchange may close the position if its collateral falls below the required margin—even while the opposite leg is gaining elsewhere.
Review position size, leverage and the collateral required on each exchange. Combined exposure alone does not tell you how close an individual leg is to liquidation.
The paper ledger is not a complete exchange liquidation model. More leverage means less collateral relative to exposure; a spread guard is not a margin guarantee.
The simulation starts with no leverage by default and lets you explore position sizing before risking capital. Paired routes are designed to offset directional exposure. These choices reduce avoidable exposure, but the beta does not provide live collateral management or liquidation protection.
For supported leveraged positions, the planned App Store release will place protective exit orders on the exchanges and check their status. These aim to reduce liquidation and leftover-position risk, but cannot guarantee execution at the intended price.
Follow the execution sequence →Withdrawals pause, a venue goes offline, or a transfer takes longer than expected. Money or positions may remain exposed while you wait.
Complete the required exchange KYC (identity verification) and trading-access checks before live trading. Then read the daily exchange constraints before opening a route and while holding it. A paused withdrawal or unavailable venue can change what is practical.
The app cannot make an exchange process a withdrawal or stay solvent. For real-money use, exchange custody, stablecoin value and any transfer network or bridge introduce additional risks.
Intel can bring exchange constraints into the daily assessment and explicitly recommend no new trades. This helps you avoid entering a route blindly when a problem is known. It is decision support, not insurance against an exchange or network failure.
The planned App Store release will check transfer readiness, coordinate necessary fund movements and verify their progress. These checks reduce operational uncertainty; they do not insure funds against an exchange or network failure.
Follow the execution sequence →An exchange stops reporting or the connection drops. The last observed rate may no longer describe the market you could trade.
Check whether the market view is current and whether the venues in your route are reporting. Treat an estimate based on an old observation accordingly.
That is still an estimate during the gap. The iPhone’s polling and background behaviour matter; the current beta is not a promise of continuous live execution or monitoring.
The app checks data availability when evaluating opportunities and applies safeguards when updates are interrupted. These checks help manage incomplete information, but cannot make unavailable market data current.
For exchange mechanics, see Binance’s funding explanation and Coinbase International’s order and liquidation rules. Each venue has its own contract terms.
The purpose of the simulation is to prepare you for the decisions you would make with real money. That means following actual market rates, accounting for costs and seeing what happens when a trade stops behaving as expected.
A useful practice result is more than a positive balance. Can you explain the route, its costs, what changed while it was open, and why it closed? Those are the habits the beta is meant to build.
The app can close a paper position when its monitoring identifies deteriorating funding conditions. You can also choose to close manually, and the completed position records its closing reason. These simulation controls address funding risk; they do not reproduce every reason an exchange might liquidate a real position.