Getting Started
Welcome to the Rate Swap Protocol! This guide will help you understand how to start trading interest rate swaps on Solana.
What You'll Need
- Solana Wallet - A compatible wallet (Phantom, Solflare, etc.)
- Collateral - Supported collateral assets (e.g., USDC)
- Basic Understanding - Familiarity with interest rate swaps (see Understanding Swaps)
Quick Start
Step 1: Connect Your Wallet
Connect your Solana wallet to the Rate Swap Protocol interface. Ensure you're on the correct network (mainnet/devnet).
Step 2: Deposit Collateral
Before trading, you need to deposit collateral to your margin account:
- Navigate to the Margin section
- Select your collateral type (e.g., USDC)
- Enter the amount to deposit
- Confirm the transaction
Step 3: Open a Position
To open an interest rate swap position:
- Select a market (defined by rate index, asset, and maturity)
- Choose your position:
- Pay Fixed / Receive Floating: Profit when rates rise (positive notional)
- Receive Fixed / Pay Floating: Profit when rates fall (negative notional)
- Enter your notional amount
- Review the margin requirements
- Execute the swap
Step 4: Monitor Your Position
Track your position's performance:
- Mark-to-Market (MTM): Real-time unrealized P&L
- Funding Settlement: Periodic funding index updates
- Health Factor: Position health relative to margin requirements
Step 5: Close or Manage Position
You can:
- Close: Execute an opposite swap to exit
- Add Collateral: Improve health factor
- Partial Close: Reduce position size
Important Concepts
Margin Requirements
- Initial Margin: Required to open/increase position
- Maintenance Margin: Minimum to keep position open
- Liquidation: Position closed if health falls below maintenance
Position Signs
notional > 0: Pay fixed, receive floating (long rates)notional < 0: Receive fixed, pay floating (short rates)
Next Steps
- Trading Basics - Learn core trading concepts
- Understanding Swaps - Deep dive into IRS mechanics
- Risk Management - Protect your positions
Getting Help
- Join the community Discord
- Review Business Documentation for protocol economics