Frequently Asked Questions
Last updated: Sep 3, 2026
Find answers to common questions about Synthetix Exchange.
If you can't find the answer you're looking for, see Contact Support for information about getting help from the AI assistant or a human Support agent. Alternatively, open the chat widget using the icon in the bottom-right corner.
Popular Questions
- Why can't I place an order?
- Why wasn't my Limit Order filled?
- Why isn't my position appearing?
- Why can't I withdraw?
- How do I close my position?
- What happens if I get liquidated?
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Platform Basics
What is Synthetix?
Synthetix is a decentralised perpetuals exchange on Ethereum Mainnet. It lets you trade leveraged long and short positions on a range of assets without giving up custody of your funds.
Do I need to create an account?
No sign-up is required. Connect your wallet and create a trading subaccount directly in the app.
Learn more: Getting Started
Do I need KYC?
No. Synthetix does not require identity verification.
Who controls my funds?
You. Your funds are held by Synthetix smart contracts rather than by a centralised custodian. Synthetix does not have custody of your assets.
Wallet & Access
Can I use multiple wallets?
Yes. Each wallet can have its own set of subaccounts.
Can I use multiple subaccounts?
Yes. You can create multiple subaccounts within a wallet. Subaccounts keep collateral and positions isolated from one another.
Learn more: Subaccounts
I connected the wrong wallet. Can I switch?
Yes. Disconnect and reconnect the correct wallet using the wallet selector.
What happens if I lose my wallet?
Your funds are secured by your wallet's seed phrase. Synthetix cannot recover access to your wallet on your behalf. Store your seed phrase securely.
Tokens & Assets
What collateral can I use?
USDT and WETH are currently supported as collateral in the app. USDT is the settlement asset, while WETH contributes haircut-adjusted collateral value for trading.
Learn more: Depositing Collateral and Multicollateral Margin
How do I deposit collateral?
You can deposit supported collateral, such as USDT or WETH, through the Deposit window in the trading interface.
Select the asset and amount you want to deposit, then follow the prompts to complete the transaction.
Learn more: Depositing Collateral
What tokens do I need?
- USDT - settlement asset and supported collateral.
- WETH - supported non-USDT collateral.
- ETH - gas fees on Ethereum Mainnet.
Why do I see unknown tokens in my wallet?
Unknown tokens may be airdropped spam tokens. Do not interact with them. Synthetix does not airdrop tokens without an official announcement.
Collateral & Margin
Can I trade without holding USDT?
Yes. Deposit supported non-USDT collateral such as WETH and trade USDT-settled markets. Fees, funding, and realised PnL still settle in USDT, so your USDT balance may go negative while positions are open.
Learn more: Multicollateral Margin
Why is Swap unavailable when my USDT is negative?
Your USDT can show as negative while positive unrealised PnL covers it. In that case, it is not effective debt. Swap becomes available when you have USDT debt after positive unrealised PnL is considered.
Learn more: Multicollateral Margin
Why is my Collateral Value lower than my balance multiplied by the price?
Non-USDT assets are subject to haircuts. Collateral Value is the haircut-adjusted value that contributes towards your margin.
Learn more: Leverage & Margin
Why can't I withdraw?
Your withdrawable amount may be limited by your available balance, open positions, margin requirements, outstanding USDT debt, or an existing pending withdrawal.
Check your available withdrawal amount and make sure you have sufficient withdrawable balance. Reducing positions, repaying USDT debt, or depositing additional collateral may increase the amount you can withdraw.
Learn more: Withdrawing Collateral and Multicollateral Margin
Why can't I withdraw all my USDT when I also hold WETH?
USDT withdrawals are limited by your available USDT and positive unrealised PnL. WETH collateral supports margin and trading but does not increase the amount of USDT you can withdraw unless you Swap it or receive USDT through trading activity.
Learn more: Withdrawing Collateral and Multicollateral Margin
Why did my margin drop without closing a trade?
Non-USDT collateral is valued using its index price. A change in the WETH price can therefore reduce your Collateral Value and Adjusted Account Value even if your position PnL has not changed.
Learn more: Leverage & Margin
Why is my maximum withdrawal zero even though I have a balance?
Open positions may reserve margin, USDT debt may require collateral to remain in the account, or the asset may be fully supporting your existing obligations.
Reducing positions, repaying USDT debt through Swap, or depositing additional collateral may increase your withdrawable amount.
Learn more: Withdrawing Collateral and Multicollateral Margin
Will closing my last position repay my USDT debt?
No. Realised PnL settles into USDT, but remaining debt is not automatically repaid. You can use Swap to repay the debt, or collateral may be automatically exchanged if debt limits are breached.
Learn more: Multicollateral Margin
What's the difference between Swap and Withdraw?
Withdraw sends tokens from your account to your wallet. Swap converts supported non-USDT collateral into USDT within your account and can be used to repay USDT debt.
Learn more: Withdrawing Collateral and Multicollateral Margin
Why was my collateral sold without me clicking Swap?
Forced auto-exchange can occur when your USDT debt exceeds the permitted debt limit.
Learn more: Multicollateral Margin
Does auto-exchange require my approval?
No. Forced auto-exchange runs automatically when its conditions are met.
Learn more: Multicollateral Margin
Why did my USDT go negative overnight?
Funding payments and trading fees settle in USDT. If you hold non-USDT collateral without sufficient USDT, these payments can cause your USDT balance to become negative.
Learn more: Multicollateral Margin and Funding
Are gas fees charged on swaps?
No. Internal Swap transactions do not require a wallet gas transaction. Gas is required for on-chain deposits and withdrawals.
Learn more: Depositing Collateral and Withdrawing Collateral
Trading
What fees do I pay?
Synthetix charges fees for activities such as trading, withdrawals, and other applicable transactions. The fees that apply depend on the action and your trading account tier. Fees may also be adjusted based on applicable referral discounts.
Learn more: Fees and Referral Program
Orders
Why can't I place an order?
Orders may be rejected for reasons such as insufficient available margin, market or leverage limits, or other order conditions.
Check your available margin, order parameters and the relevant market limits before trying again.
Learn more: Leverage & Margin and Order Types
Why wasn't my Limit Order filled?
A Limit Order only executes when the market reaches the specified price or a price that provides an execution under the order's conditions. An order may remain open until it is filled, cancelled or expires.
Learn more: Limit Orders
Why was my order partially filled?
An order can be partially filled when only part of the requested quantity can be matched with available liquidity.
The remaining quantity may stay open and continue to wait for execution, depending on the order type and selected Time in Force.
Learn more: Limit Orders
Why did my order execute at a different price?
The final execution price can differ from the displayed or quoted price because market prices and available liquidity can change before the order is filled.
This is particularly relevant for Market Orders, where the final execution price depends on available liquidity at the time of execution.
Learn more: Market Orders
Why didn't my Trigger Order execute?
A Trigger Order remains pending until its trigger conditions are met. Once triggered, it follows the configured order behaviour.
Learn more: Advanced Order Types
Why didn't my Take Profit or Stop Loss execute?
TP/SL orders remain pending until their configured trigger conditions are met. Market conditions, trigger prices and the state of the related position can affect whether an order executes.
Learn more: Managing Positions and Advanced Order Types
Can I edit an order after placing it?
Some order types can be edited after submission. The available actions depend on the order type.
Learn more: Managing Open Orders
Can I cancel an order after placing it?
Yes. Supported open orders can be cancelled before execution.
Learn more: Managing Open Orders
Where can I view my open orders?
Open orders are displayed in the Open Orders tab of the Portfolio Table. The available tabs and information depend on the order type.
Learn more: Managing Open Orders and Portfolio
Why did my order disappear from Open Orders?
An order is removed from Open Orders when it is executed, cancelled, or expires where applicable.
Cancelling a parent order may also cancel linked child orders, such as Take Profit or Stop Loss orders.
Learn more: Managing Open Orders
Where can I find my order and trade history?
You can view your Order History and Trade History in the Portfolio Table.
Learn more: Trade & Order History
What's the difference between Order History and Trade History?
Order History records the orders you submit, including orders that may be filled, cancelled or expired. Trade History records executed trades resulting from those orders.
Learn more: Trade & Order History
Positions
What is the maximum leverage?
Maximum leverage varies by market and position size. Leverage limits can decrease as notional position size increases.
Check the market detail panel in the app for the current limits.
Learn more: Leverage & Margin
How do I close my position?
You can close an open position from the Positions tab in the Portfolio Table. Select the Close action for the position you want to close, then review and submit the closing order.
Learn more: Managing Positions
Why can't I close my position?
A position may not be able to close if there is insufficient available liquidity, insufficient margin, or an issue with the order parameters.
Check that you are using the correct market and direction, and that your position size and available margin are sufficient to submit the closing order.
If the issue persists, contact Support with your wallet address, subaccount, market, and details of the order.
Learn more: Managing Positions and Order Types
Why did my TP/SL disappear?
Take Profit and Stop Loss orders are linked to the position or parent order they were created with. If the related parent order or position is closed or cancelled, the associated TP/SL orders may also be cancelled and removed from Open Orders.
Check your Positions and Open Orders tabs to confirm the current state of your position and TP/SL orders.
Learn more: Managing Positions and Managing Open Orders
What is funding?
Funding is a periodic payment between long and short positions that helps keep perpetual prices aligned with the underlying market.
Learn more: Funding
What is the difference between mark price and last price?
The mark price is used for margin calculations, PnL and liquidations. It is derived from external perpetual markets to help resist manipulation.
The last price represents the current fair value of the Synthetix perpetual and is used for UI display.
Learn more: Pricing
What happens if I get liquidated?
Your positions may be reduced, closed or transferred to designated SLP accounts. A liquidation fee is deducted, and remaining collateral may be returned to the account.
In multicollateral accounts, all collateral types in the affected subaccount may be involved in the liquidation process.
Learn more: Liquidations
Technical Issues
My wallet won't connect. What should I do?
- Ensure your wallet is set to Ethereum Mainnet.
- Refresh the page.
- Try clearing your browser cache.
- Try a different browser or disable browser extensions.
- Contact Support if the issue persists.
Why am I seeing a wrong network error?
Switch your wallet to Ethereum Mainnet and refresh the page.
Why is my transaction stuck pending?
You may need to speed up or cancel the transaction from your wallet.
Why did my transaction fail even though gas was used?
A failed transaction can still consume gas. This may happen when a contract condition is not met at execution time, such as price movement or an open interest limit.
Check the error message in your wallet or block explorer.
Why isn't my deposit showing?
After depositing, allow the transaction time to confirm, then refresh the trading interface.
If the transaction has confirmed but the deposit is still not showing, contact Support with your wallet address, subaccount, and transaction hash.
Learn more: Depositing Collateral
Why is my withdrawal pending?
Withdrawals may take time to complete after they are submitted. Allow time for the transaction to confirm, then refresh the trading interface.
If the withdrawal remains pending, contact Support with your wallet address, subaccount, and transaction hash.
Learn more: Withdrawing Collateral
Why did my withdrawal fail?
A withdrawal may fail if the request does not meet the required conditions.
Check your withdrawable balance and try again. If the withdrawal continues to fail, contact Support with your wallet address, subaccount, and transaction details.
Learn more: Withdrawing Collateral
Why isn't my balance updating?
Wait for the transaction to confirm on Ethereum Mainnet. If the transaction has confirmed but the balance has not updated, refresh the page and check that you are viewing the correct subaccount.
Why isn't my position appearing?
Check that the order was successfully submitted and that you are viewing the correct subaccount / market. Refresh the trading interface and check your Positions tab and Trade History or Order History.
If the position still does not appear, contact Support with your wallet address, subaccount and details of the order.
Why is the trading interface not updating?
Check that your internet connection is stable and refresh the trading interface. Also make sure your wallet is connected to Ethereum Mainnet and that you are viewing the correct wallet, subaccount, and market.
If the issue persists, contact Support with your wallet address, subaccount, market, and details of what is not updating.
API
Do you have an API?
Yes. Synthetix provides REST and WebSocket APIs.
Learn more: API Overview
How do I authenticate API requests?
Synthetix API requests use EIP-712 signatures.
Learn more: Authentication
Still Need Help?
If your question isn't answered here, see Contact Support to learn how to contact Support, speak with a human agent, and manage your support conversations. Alternatively, get straight to it and hit the chat icon in the bottom-right corner.
When contacting Support, include the following where applicable:
- Your wallet address
- Your subaccount
- The network you're using
- The market involved
- Transaction hashes
- A clear description of the issue
- Screenshots or screen recordings
Security Reminder
Synthetix Support will never ask for:
- Your seed phrase
- Your private keys
- Wallet credentials or other information that could give access to your wallet.
Always verify that you're communicating through the official Support conversation.
See Official Links to verify official Synthetix websites and resources.